TRE announces HIGH GRADE GOLD On the Surface Quartz Rubble
Tanzanian Royalty Announces High Grade Gold Results From 1.2 Mile Long Quartz Rubble Bed on Lunguya Mining Licenses
Press Release Source: Tanzanian Royalty Exploration Corporation On Friday November 19, 2010, 1:03 pm
SOUTH SURREY, British Columbia--(BUSINESS WIRE)-- Tanzanian Royalty Exploration Corporation is pleased to announce that extremely positive results have been received from laboratory test work on surface gravels collected from its recently acquired Lunguya Primary Mining Licenses (PMLs) in northern Tanzania.
The laboratory test work was intended to establish the mineralogical (physical) characteristics of gold contained within an extensive auriferous (gold bearing) quartz rubble bed identified at Lunguya, along with suitable gravity-based recovery methods to extract gold from the gravels which are essentially broken and fractured surface rock.
6000 ft X 600 ft X 60 ft (depth?)divided by 27 cu ft per ton X 3.7 grams per ton divided by 32 grams per ounce equals approx. 1 million ounces ((1.35 billion dollars) - excludes significant P/E factoring.