RLD.L Regulatory News (RLD)

19 Feb 2007 07:00

Tanzanite One Limited19 February 2007 Tanzanite One Limited ("TanzaniteOne" or the "Company") Drilling Results and Stoping Trials Update AIM quoted Tanzanite One Limited (ticker "TNZ.L"), the premier miner of thegemstone tanzanite, announces independently verified results of its 2006 deephole drilling (DHD) project, as well as promising preliminary results from itsstoping trials. Deep Hole Drilling Results The 2006 drilling programme consisted of two phases for a total of 2501m, withthe initial results of the first phase released on 13 February 2006. The first phase intersected the Lower Horizon, which hosts the economicmineralisation in the JW Zone, at a down dip extent of approximately 800m,indicating a considerable increase in the available mineralised zone from thatwhich was initially indicated in the Competent Persons Report (CPR) released tothe market at the time of the admission to AIM. The second phase of drilling went on to intersect the JW Zone at a down-dipextent of over 1400m; three times further than previously drilled. The presence of the JW Zone does not prove the presence of tanzanite, but theeconomic occurrence of tanzanite is restricted to the JW Zone and geochemicalanalysis of the zone intercepted in the drill holes shows it to be comparable tothat which is tanzanite bearing in the current mining area. The DHD project alsoindicates that the ore-zone thickens with depth. "The increase in the mineralisation width together with the intersection of themineralised zone to a depth of some 1400 metres suggests that the currentinferred resource and therefore the life of the mine at current production ratesmay be significantly increased" said Ian Harebottle, TanzaniteOne's ChiefExecutive Officer. Mine Stoping The company is pleased to announce that the results of its initial mine stopingtrials are meeting expectations. The trials are being conducted to demonstratethat the JW zone between the high grade 'pay-shoots' (highly mineralisedboudinaged areas) can be mined profitably, ensuring maximum mineral resourceutilisation. "The use of stoping in coloured gemstone mining is, I believe, a world first andthe results of the initial trials are most encouraging. Further assessments willnow be carried out to determine whether similar result can be attained on asustainable basis throughout all the old workings", comments Ian Harebottle,TanzaniteOne's Chief Executive Officer. If successful, stoping will form part of all future development thus supportinga significant ramp-up in production volumes and helping to iron out some of thefluctuations in the grade and quality profile of tanzanite mined which thecompany has experienced in the past. The company now plans to combine all of the above information with that whichwas initially provided at the time of listing, and is expecting to release aresource update in the second half the of 2007. Competent Person Information in this report relating to the drilling results is based on datareviewed by Mr Ed Nealon, who is a Fellow of the Australasian Institute ofMining and Metallurgy and qualifies as the Competent Person in accordance withthe Australasian Code for Reporting of Exploration Results, Mineral Resourcesand Ore Reserves (the JORC Code, 2004). Mr Nealon has in excess of 25 yearsexperience in mineral exploration and consents to the inclusion of theinformation in the form and context in which it appears. For further information regarding the announcement, please contact: Tanzanite One LimitedIan Harebottle Willi Boehm+255 755 600 991 +61 40 996 9955 Conduit PRLeesa Peters / Jos Simson+44 (0) 20 7429 6600/ 0781 215 9885 This information is provided by RNS The company news service from the London Stock Exchange