VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 10, 2013) - Tajiri Resources Corp. (the "Company")(TSX VENTURE:TAJ) is pleased to announce the discovery of a significant new lode gold system during drilling at the Company's wholly-owned Kaburi PL Gold Project, Mazaruni District, Guyana, South America; and to provide this summary of results from the over 3,100 metres of Reverse Circulation ("RC") drilling completed during the Spring 2013 exploration campaign.
Best results returned from the 2013 program were achieved in holes KRC-13-13 which intercepted 22 metres of 2.69 g/t Au from 8 metres to 30 metres, including 10 metres of 5.13 g/t Au from 8 to 18 metres; KRC -13- 25 which intersected 8 metres at 6.48 g/t Au from 6 metres to 14 metres, including 2 metres at 25.50 g/t Au from 6 metres to 8 metres; and hole KRC-13-32 with 11 metres grading 1.08 g/t Au from 2 metres to 13 metres including 1 metre of 7.94 g/t Au from 2 metres to 3 metres and 11 metres of 1.37 g/t Au from 32 metres to 43 metres including 2 metres of 5.19 g/t Gold from 39 to 41 metres. The above holes were located on three separate drill fences spaced approximately 100 metres from one another which would indicate a mineralized strike in excess of 300 metres associated with presumed contact of the Aurora-Gem Creek Shear Zone where it transects the Kaburi PL. The 2013 drilling program was successful in identifying and testing the interpreted gold mineralized trend on the Kaburi PL and this trend remains open on strike for follow up exploration.
Mr. Graham Keevil, President and CEO stated, "The Company is extremely pleased with the results from our first ever drill campaign at the 100%-owned Kaburi PL Gold Project. These results represent the newest gold discovery within the West Omai Gold Camp, an area quickly becoming one of the most exciting gold exploration districts in recent memory. Not only has the existence of substantial near surface gold been proven as a result of our efforts, but the locality is such that it is immediately adjacent to Troy Resources West Omai Gold deposits, where both Smarts/Hicks are subject to planning for immediate mine development."
"In addition to being in and of itself an impressive first pass drill effort, our higher grade intersections appear to be consistent with those discovered at the Smarts Deposit, some 2.5 km to the Kaburi PL's south-east, where 1.02 million ounces are inferred* at an impressive 4.02 g/t Au and represent part of the West Omai assets recently acquired by Troy Resources for approximately US$200 million. Tajiri was able to take the Kaburi PL from a grassroots, greenfield exploration asset as of July 2012 to a significant gold discovery in less than one calendar year, and considers it a testament to its ability to efficiently deploy capital to projects of merit in order to add optimal value for all stakeholders. Having now achieved this level of exploration success at such an early stage in the Company's existence the Board looks forward to continued drill efforts at Kaburi as well as this summer's drilling at our highly prospective OGK Copper-Gold Project in British Columbia" Mr. Keevil added.
Highlighted Mineralization Table - Kaburi 2013 Drill Holes
|Drill Hole||From (m)||To (m)||Length (m)||Au (g/t)|
|NB: Above intercepts include runs >0.10 g/t Au reported above a 0.3 g/t Au threshold of > 2 metres -|
|*||The Company was unable to verify the above information, which is available publicly on Azimuth Resources ASX and TSX filings (including the March 2013 Omai Technical Report) and from within Azimuth's public disclosures.|
|Reported intersections are drilled intersections, as true widths have not yet been determined.|
|*||Maps showing drill hole locations will be posted to the Company's website shortly at http://www.tajiricorp.com/.|
The 2013 Kaburi RC drilling program totaled 3,103 metres of RC drilling, in 33 holes, laid out in a 5 fence pattern designed to target the interpreted northwest-southeast and east-west structural mineralization trends the Company had identified through 2012 geochemical sampling programs. The drilling covered approximately 800 metres of strike length within the 2x4 km Seer gold-in-soil anomaly as defined by the Company during its 2012 exploration work and served to provide proof to the existence of a lode gold system associated with the Aurora-Gem Creek Regional Shear similar in nature to Troy Resources neighbouring Omai-Hicks-Kaburi Corridor Deposits of Smarts and Hicks. Given the recent acquisition of Azimuth Resources by Troy Resources management determined that moving forward with the drill campaign as quickly as possibly was pertinent to the creation of optimal value for stakeholders of the Kaburi PL asset, as both the Smart and Hicks deposits are planned for production within the next four years. The Company also is of the opinion that additional ounces will be required to ensure a long term and profitable operations in the West Omai Region and hopes to contribute to the ongoing development through this discovery. Given the location of the long intervals containing gold mineralization as seen in holes 13, 25, and 32 a mineralization trend(s) has been identified and remains open along strike, a more focused follow-up drilling program is now warranted and Company management expects a substantially higher hit ratio from any such program that in turn will define additional zones of potentially mineable material.
All samples collected during the Kaburi 2013 Drill program were analyzed by Acme Analytical Labs of Vancouver, B.C., utilizing a 50 gram G6 fire assay finish for gold. All samples were collected by Tajiri geological personnel and shipped to Acme Analytical Labs preparation facility in Georgetown, Guyana, where samples were sorted and crushed to appropriate particle size (pulp) and representatively split to a smaller size for shipment to Acme's Vancouver and/or Santiago, Chile analysis facilities. RC samples were collected and catalogued on 1 metre intervals at the Kaburi drill site and shipped to ACME's Georgetown preparation facility as such. At the Company's direction, certain sections of the 2013 RC drilling sampling were composited into 2 metre samples intervals for final assay. A system of standards, blanks and duplicates sampling was implemented in the 2013 drilling program and monitored by Company management throughout the program.
Due to the high grades of gold reported from the 2013 Kaburi drilling program, a comprehensive coarse metallic screening study is currently underway to better constrain the high gold grades encountered during this program. Additionally, selected high grade composited intervals returned from first pass analyses will be subject to individual assays from the maintained "B-Splits" to more accurately ascertain gold grades. Germane data from these studies will be released as it becomes available.
Paul D. Gray, PGeo, is the company's qualified person with respect to the Kaburi Gold Project and has reviewed and approved this press release.
On Behalf of the Board,
Tajiri Resources Corp.
Graham Keevil, President, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
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