Tanzanian Royalty Has Retained Venmyn Rand Limited to Prepare Mineral Resource Block Models And Updated Mineral Resource Statements For Tanzanian Royalty’s Buckreef Project In Tanzania
Venmyn Rand (Pty) Ltd. (Venmyn) has been retained by Tanzanian Royalty Exploration Corporation to prepare Canadian National Instrument (NI 43-101) compliant Mineral Resource block models and Mineral Resource estimates for its Buckreef Project in Tanzania. Venmyn has previously prepared NI43-101 Independent Technical Reports (ITR) and a Preliminary Economic Assessment (PEA) on the Buckreef Project, which have been published on the System for Electronic Document Analysis and Retrieval (SEDAR). The PEA has formed the basis of a planned Preliminary Feasibility Study (PFS).
The previous ITRs were based on original Hellman and Schofield (2007) resource estimates using Multiple Indicator Kriging (MIK) techniques and in-house modeling programmes. Venmyn utilised the 2007 resource estimates as the basis for the PEA and recommended that new Datamine™ block models be constructed for the Buckreef Project to eliminate any incompatibility with mine design scheduling programmes going forward into the PFS and ultimately the "Definitive Feasibility Study” (DFS). In addition, new exploration data from a recently completed Mineral Resource drilling programme is available and will be incorporated into a new and updated Mineral Resource estimate for the project.
James E. SinclairPresident and Chief Executive Officer For further information, please contact Investor Relations at 1-800-811-3855 Visit our website: www.TanzanianRoyalty.com The Toronto Stock Exchange and NYSE MKT LLC have not reviewed and do not accept responsibility for the adequacy or accuracy of this release Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, "measured", "indicated", or "inferred" which may not be consistent with the reserve definitions established by the SEC. U.S. Investors are urged to consider closely the disclosure in our SEC filings. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.
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