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Tuesday, 27th November 2007 (2592 views)

A discovery of "record high values" has been made during a Phase Four reverse-circulation drilling programme on the Kigosi project in Tanzania, according to Tanzanian Royalty.

The company noted that the high-grade gold had a peak value of 101.26 grams of the precious metal per tonne, which was found over more than one metre in a hole drilled on the site's Bateleur gold shoot.

"In our view, Kigosi has the potential to become a world-class gold discovery and we intend to make it the most aggressively explored precious metals project in Africa over the next few years," said Tanzanian Royalty's chairman and chief executive officer, Jim Sinclair.

He added that the company is currently investigating its financing options for further exploration on the site, where a fifth phase of drilling is currently underway.

Tanzanian Royalty has an exploration office located in Mwanza Tanzania, where some staff members, including specialist consultants, are fluent in Swahili.

 

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