- 13.01.2005, 22:37:41
- /
- OTE0007
Tan Range Announces Sample Results from Kibara Project in Tanzania
Vancouver, British Columbia (ots/PRNewswire) - The Company is
pleased to announce preliminary sampling results from the Nyakona
Hill area on its Kibara project in the Lake Victoria goldfields of
northwest Tanzania.
Following up on gold anomalies previously recognized by regional
BLEG sampling and on high copper and gold values from one grab
sample in March and June of 2004, field crews collected 12 grab
samples, mostly as float, which were submitted for analysis. Many of
these samples were noted in the field to have high copper
concentrations.
In addition, a 100m x 100m grid was established over the initial
copper- gold anomaly and soil samples were collected for
multi-element analysis. Assessment of this multi-element data is
still in progress but maximum values of 0.198 ppm and 2760 ppm were
observed for gold and copper respectively.
The grab sampling yielded the following assay results:
---------------------------------------------
Sample No Gold Copper
(grams per tonne) (%)
---------------------------------------------
J-6733 3.33 18.15
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J-6734 2.20 less than 1%
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J-6735 1.45 1.25
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J-6736 0.73 less than 1%
---------------------------------------------
J-6737 2.80 17.15
---------------------------------------------
J-6738 1.25 less than 1%
---------------------------------------------
J-6739 0.03 less than 1%
---------------------------------------------
J-6740 3.44 6.61%
---------------------------------------------
J-6741 3.27 5.70%
---------------------------------------------
J-6742 0.15 less than 1%
---------------------------------------------
J-6743 0.02 less than 1%
---------------------------------------------
J-6744 0.09 less than 1%
---------------------------------------------
According to the Company's President, John Deane, "the occurrence
on Nyakona hill would appear to be structurally-hosted rather than
stratigraphic," while observing that a copper-gold association occurs
at Barrick's Bulyanhulu mine and Chocolate Reef deposit.
Jim Sinclair, the Company's Chairman and CEO, described the
results as "highly encouraging" while noting that follow-up work
will include a biogeochemistry survey and drilling.
"This is one of many high potential targets that we intend to
aggressively evaluate immediately after our new drill rig arrives in
early 2005," he said.
Qualified Person
The Company's Qualified Person is Mr. Peter Chadwick, M.Sc.
University of Cape Town (1993), a registered scientist with SACNASP
(Reg. No. 400082/93) and a Fellow of the Society of Economic
Geologists. A geologist with 21 years post graduate experience,
which includes 5 years in technical support at the University of
Cape Town, 3 years in base metal exploration in northern Namibia, 9
years in mining and exploration in the Archaean terranes of
Zimbabwe, and 4 years as an Independent Consultant in East and
Southern Africa. Mr. Chadwick has reviewed this press release, and
all analytical results.
Analysis
All rock samples were analyzed by fire assay with an ICP-MS
finish, with ore grade values undergoing fire assay with an AA
finish. Soils were analyzed for gold by fire assay with an ICP-MS
finish, and up to 34 elements using AR and ICP-AES. All analyses
were undertaken by ALS Chemex in Brisbane, Australia.
On Behalf of the Board of Directors
"James E. Sinclair"
Chairman and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities
and Exchange Commission permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or produce. We use
certain terms on this news release, such as "measured", "indicated",
and "inferred" "resources" that the SEC guidelines strictly prohibit
U.S. registered companies from including in their filings with the
SEC. U.S. Investors are urged to consider closely the disclosure in
our Form 20-F, File No. 0-50634, which may be secured from us, or
from the SEC's website at http://www.sec.gov/edgar.shtml.
Rückfragehinweis:
For further information: please contact Investor Relations at
+1-800-811-3855. Visit the Tan Range website: www.tanrange.com; To
request a free copy of this organization's annual report, please go
to http://www.newswire.ca and click on reports@cnw
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