Drilling by Tan Range Exploration (TNX-A) at its Itetemia gold property in the Lake Victoria gold district of Tanzania continues to return encouraging results.
Five core-holes drilled on the Golden Horseshoe Reef, a quartz-pyrite exhalative horizon discovered last March, returned gold values ranging from a low of 1.22 grams per tonne over 1.5 metres in hole 20, to a high of 14.78 grams over 6 metres in hole 24. The highest gold values were recovered from hole 23, which intersected 17.7 metres of 4.66 grams, including 4.9 metres of 7.99 grams.
The Golden Horseshoe Reef is characterized by an induced-polarization anomaly, which has been traced over 2.2 km. Thirteen diamond drill holes have tested the anomaly for 300 metres along strike, whereas reverse-circulation drilling has tested an additional 500 metres.
Diamond drilling has intersected mineralization to a depth of 100 metres, across a similar width. In addition, a fence of reverse-circulation drill holes sunk 60 and 440 metres further east and west, respectively, of the latest core-holes intersected the gold-bearing quartz reef. Drilling there will resume once heavy rainfall ends.
The 181-sq.-km Itetemia property adjoins Sutton Resources’ Bulyanhulu gold deposit. The property is held 90% by Tan Range and 10% by the government of Tanzania.
Elsewhere, Tan Range has canceled a deal with JCI of South Africa to acquire the Wyldsdale gold property in southern Africa. The deal, which was signed last June, required the junior to issue 3 million shares to JCI.
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