Vancouver — An ongoing drill program by Tan Range Explorations (TNX-V) continues to yield encouraging values from the company’s wholly owned Luhala gold property in Tanzania.
Located east of the Rwamagaza greenstone belt, the 55-sq.-km property hosts the Kisunge Hill zone, where 250 rotary air blast holes outlined a preliminary resource of 9.4 million tonnes grading 1 gram gold per tonne.
Results are in for the first four holes of the drill program.
Two holes were drilled at Kisunge Hill. One returned up to 5.7 grams gold over 14.4 metres from 30 metres down-hole. The other returned 2.7 grams gold over 2 metres from 15.7 metres down-hole.
At the Shilalo South Hill target, which has never before been drill-tested, the first hole returned 29.5 grams gold over 1 metre from 20 metres down-hole. The second cut 2.75 grams gold over 2 metres from 20 metres down-hole.
Tan Range expects to drill another 1,000 metres during this program.
The junior has announced a private placement consisting of 162,000 units priced at 55 each. A unit holds one share and one warrant which is exercisable into a share at 60 for a two-year period.
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