Bezant Resources PLC Regulatory News (BZT)

30 Mar 2007 14:01

Tanzania Gold PLC30 March 2007 30 March 2007 Tanzania Gold Plc ("Tanzania Gold") Drilling Update for the Mkurumu Project, Tanzania Highlights: •First phase drilling campaign completed within budget and timescale •Individual sample grades up to 2.82g/t gold returned in core drill samples •First phase drilling programme has significantly increased geological understanding of the project •Board remains highly confident in the Mkurumu gold project Tanzania Gold (TZG.L), the AIM listed exploration and development company, ispleased to announce the results of the first phase of the geological coredrilling of its Mkurumu joint venture gold project (PL 3048/2005), Tanga region,Tanzania. The Board believes that the Mkurumu deposit represents the firstdocumented occurrence of an exhalative gold deposit in Tanzania. The goldmineralization typical of this type of deposit is characterised by the bimodalnature of the gold distribution, consisting of a low-grade high tonnage primarygold component as well as the occurrence of multiple high-grade secondary goldveins. The main purpose of the first phase of drilling was to investigate thegeological model as outlined in the Competent Persons Report ("CPR") ofSeptember 2006, through the examination of the various geological quantities,including structure, lithologies and grades associated with the low-grade buthigh tonnage syngenetic strataform gold component of the deposit. The board ofTanzania Gold remains confident that the geological model outlined in the CPRhas to date been proven to be accurate. Twelve diamond drill holes (including one collar re-drill) resulting in a totalof 1,041m of core were drilled within the 43.35 sq/km licence area and along the10km strike extent of the deposit. Due to technical difficulties drill holeSEDD002 had to be re-drilled. All the holes intersected the gold mineralization.More than 10 per cent. of the total core drilled yielded an average grade of0.28g/t gold, with the highest value of 2.82g/t gold seen in 1.9 per cent. ofthe core drilled. The highest individual sample result obtained was 2.82g/t fromhole VUDD003 over a 1m sample length. Over 13 samples, an average calculatedgold concentration of 1.13g/t was recorded. The results of the Mobile Metal Ions (MMI) analyses as well as the preliminaryresults of the first phase of the high grade epigenetic gold mineralizationinvestigations are expected to be available in the second quarter of 2007. Chief Executive, Clive Sinclair-Poulton said, "I am delighted with the progress on the Mkurumu project and the fact that theCompetent Persons Report has to date been shown to be accurate. The first phasedrilling programme has significantly increased our geological understanding ofthe deposit and identified various high-grade secondary enriched gold veins. Weare excited about the next phase of the evaluation which will include additionaltrenching, MMI analyses, soil sampling and drilling. We remain highly confidentin the Mkurumu project and look forward to reporting further progress in thenear future." Mkurumu Project Drill Campaign Highlight Statistics: Hole No Depth From To Width (m) g/tAuMKDD001 140.0 41.50 42.00 0.50 0.76 78.43 82.00 3.57 0.30 80.53 81.34 0.81 0.75 91.37 97.22 5.85 0.20MKDD002 156.2 25.00 26.00 1.00 0.22 39.00 40.00 1.00 0.20 52.00 53.00 1.00 0.28 86.00 87.06 1.06 0.53 95.40 96.18 0.78 0.24 123.00 123.50 0.50 0.24 125.50 125.83 0.33 0.28 126.92 127.12 0.20 0.28SEDD001 85.9 15.00 15.50 0.50 0.37 57.20 59.90 2.70 0.47SEDD002 42.5 Re-drilled - therefore not assayedSEDD002B 113.3 15.40 15.84 0.44 0.98 43.40 45.00 1.60 0.34 80.00 81.00 1.00 0.35SEDD003 65.3 No significant intersection >0.19g/tAuSEDD004 89.3 No significant intersection >0.19g/tAuVUDD001 60.00 25.50 26.00 0.50 0.33VUDD002 78.1 56.90 57.70 0.80 0.29VUDD003 59.1 19.50 26.00 6.50 0.23 41.10 48.00 6.90 0.99 45.00 47.00 2.00 1.93 50.00 51.00 1.00 0.21VUDD004 77.8 3.00 4.40 1.40 0.22 36.40 42.85 6.45 0.60 39.50 40.00 0.50 1.96 55.83 56.48 0.65 0.24VUDD005 73.3 29.40 31.60 2.20 0.21 61.83 62.52 0.69 0.24 Brian Varndell has reviewed and approved the technical information containedwithin this press release in his capacity as a competent person, as requiredunder the AIM rules. Brian Varndell, Senior Geologist, is a Fellow of theAustralasian Institute of Mining and Metallurgy and co-author of the CPRpublished in September 2006. For further information, please contact: Clive Sinclair-Poulton, Chief ExecutiveTanzania Gold PlcTel: +353 (0) 85 739 2674Email: clive@tanzgold.com James HarrisStrand Partners LimitedTel: +44 (0) 20 7409 3494 Gary MiddletonSt Swithins PR LimitedTel: +44 (0) 20 7929 4391Email: gary@swithins.com This information is provided by RNS The company news service from the London Stock Exchange