Resource World Magazine

100th ISSUE! V10-11 November 2012

Issue link: http://resourceworld.uberflip.com/i/102869

Contents of this Issue

Navigation

Page 45 of 63

targets on the four prospecting licenses (PLs) areas to drill target status. Efforts are currently concentrated on the 200 km2 covered by PL6743 while exploration continues on its other PLs. Soil sampling results from on Target 5 are encouraging, with gold-in-soil values of up to 200 ppb with gold assay results received for 2,331 samples. The geochemical target coincides with a magnetic and electromagnetic anomaly on surface over an area of approximately 1.8 km (N-S) by 900 metres (E-W). The Mkuvia Alluvial Gold Project (see Ruby Creek data), a joint venture in which the company has a 25% carried interest, comprises four prospecting licenses covering a total area of 380 km2 and is located in the Nachingwea District of the Lindi Region. Handeni Gold is proceeding with filings for government approvals and permits, as well as environmental and mining licenses, to commence full-scale mining operations. Preliminary surveys at Mkuvia defined an inferred resource (by volume as to JORC standards) of gold-bearing recent alluvium and terrace alluvium in the range of 2.19 million loose cubic metres averaging 0.3 grams gold per loose cubic metre. Handeni Gold recently reported expanding its interests to include properties from the Lake Victoria Archaean granite-greenstone gold region of Tanzania. The company has signed agreements with various parties active in the Lake Victoria region. MDN Inc. [MDN-TSX] recently reported that following the discovery of a volcanic belt measuring 15 km in length located to the east of the Ikungu mineralized zone, the company completed a soil geochemical survey on its Ikungu East property to determine the gold potential of this underexplored belt. The gold enriched survey samples identified four zones, located in three to four consecutive lines of sampling. The lengths of these zones vary from 1.5 km to 3.0 km and were delimited with gold values varying between 25 and 1,500 parts per billion. A more detailed soil geochemical survey with 400-metre line spacings is currently underway to confirm and to bet- ter define the anomalies that will be the object of the next drilling program. Ruby Creek Resources, Inc. [RBYCOTCQB] has been test mining on its 75%-owned Mokivia GS1 alluvial mining license area which yielded recovered grades that the company estimates varied from 0.16 to 0.86 g/lcm (loose cubic metre); approximately 14 ounces of gold were recovered. Tanzanian Royalty Exploration Corp. [TNX-TSX] has received new assay results from its deep diamond drill program at the Buckreef gold project, north-central Tanzania. The Buckreef Gold Mine Re-Development Project was acquired from the Tanzanian State Mining Company (Stamico) in December 2010. Under a Heads of Agreement, concluded with the stated-owned company, Tanzanian Royalty has the right to earn a 55% interest in Buckreef with Stamico holding the remainder. Assay results confirm continuity of the wide, higher-grade gold mineralization. Highlights include hole BMDD189 which intersected 5 metres grading 2.57 Prime Gold Exploration in Tanzania, Africa TSXv: TEM FSE: T23 OTCQX: TBGPF • HIGHLY PROSPECTIVE GOLD ASSET:101km2propertylocatedadjacent toAfricanBarrick's14MozBulyanhuluMineintheprolificLakeVictoria Greenstonebelt • HIGH QUALITY MANAGEMENT TEAM:FormerAfricanBarrick ManagementwithPresident&CEOlivingincountry • XTENSIVE ARTISANAL ACTIVITY:Over2,000artisanalworkers, E miningfromover100mineshaftssometodepthsinexcessof70m alonga>10kmstrike,extractinghighgrade5to58g/tgoldmaterial • SIGNIFICANT INITIAL DRILL RESULTS: Over1,500mofmineralized strikeidentifiedintwoprojectareas • SEVERAL NEAR TERM CATALYSTS:Expeditedworkprogramunderway with~30,000ofan87,000mdrillcompletedtodate. www.tembogold.com email: info@tembogold.com 46 www.resourceworld.com tel: 416 907 4148 Suite 1001 – 67 Yonge Street, Toronto, Ontario, M5E1J8 NOVEMBER 2012

Articles in this issue

Archives of this issue

view archives of Resource World Magazine - 100th ISSUE! V10-11 November 2012