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True Zone Resources Inc. Options Gold Property in Highly Prospective Area in Tanzania

30.03.2015  |  The Newswire
Vancouver, March 30, 2015 - True Zone Resources Inc. (TAZ - CSE) announces that it has acquired an option on the Magambe Gold Property (MGProperty) south of Handeni Tanzania. The Company will pay $250,000 and issue 4.5 million shares to acquire an 80% interest over the next 3 years.

The MG Property has multiple element and gold geochem anomalies across the of the property, associated with a structure and continuity of trace amounts of gold and other pathfinder elements on trend northeast from the Canaco Magambazi zone in similar amphibolitic rocks. These zones are part of the overall trend that Canaco is following up and have potential.

The outcrops and rocks seen to date, exhibits a complex structure of brecciated, sheared, fractured, foliated, folded and faulted deformed rock with alteration of silica, chlorite, sulphide and epidote.

With the discovery of significant placer gold immediately south "down stream" from of the anomalous area - the area is very low relief and the gold is very coarse and pristine- is indicative of a local source. The company is incorporating all this information into the proposed exploration program.

The zone on Canaco's property which has been defined by their magnetics proceeds NW from Magambazi and then swings to the NE and enters the MG property. The zone constitutes a major structure that has been identified as having gold deposits (Magambazi) on it. This is analogous to the Kirkland Break or other well established Canadian structural gold trends that host the major gold mines of Canada. Here in Tanzania we are a little over 2 years into discovering and understanding the feature. Further work is warranted.

In conjunction with the planed work additional funds will be required and the Company announces a non-brokered private placement offering of up to 6,000,000 Units. The Units will be offered at $0.05 per unit for proceeds of up to $300,000, each unit consists of one common share of the Company and one share purchase warrant that entitles the holder to purchase one additional common share of the Company at a price of $0.075 per share for a two year period following closing of the offering. The warrants will be subject to an accelerated expiry stating that if at any time, after the standard 4 month hold period, the closing price of the Company's common shares on the CSE Exchange exceeds $0.15 for any 10 consecutive trading days, the warrant holder will be given notice that the warrants will expire 31 days following the date of such notice.

Laurie Stephenson P.Eng. - M.B.A. B.Sc., a consultant to the Company, is the Qualified Person who has reviewed and approved the technical disclosure in this news release.


The Sediment Hosted Vein (SHV) model is proposed for this area of Tanzania due to the similarities to the region and those regions where the major SHV deposits are located.

This term is applied to a family of deposits that occur throughout the world, but are poorly known and understood. They are most prolific in both size and number in Asia.

The Sediment Hosted Vein model which has Continental shelf sediment emplacement followed by significant tectonic accretion activity related to continental collision and subsequent extension related to continental break up enables the emplacement of mineralizing magmas along regional structures, have typically low grade gold (1-3 grams per ton) with some high grade veins. As indicated above, they represent some of the largest deposits in the world, with common characteristics, of Late Proterozoic to early Paleozoic passive-margin shale-siltstone host rocks, extended crust as basement to the host rocks, multiple episodes of deformation Au?As, Sb, W metal suite, neutral, low to moderate salinity hydrothermal fluid chemistry, minimal to moderate grade metamorphism, active granitic magmatism in the crust and occurrence in association with large placer fields.

Evidence in favour of the SHV model in Tanzania, is seen in the presence of significant carbonate and the amphibolite and biotite garnetiferous units as probable continental shelf marine sediments +/- volcanic with potential intrusive equivalents. The association of significant fields of prolific placer gold with SHV as identified throughout the Handeni area. suggest the area geology conforms to the SHV depositional model.

About True Zone Resources Inc.

True Zone Resources Inc. is focused on enhancing shareholder value through astute acquisitioning of exceptional projects in perceived undervalued situations.

The Company has been involved in Tanzania since 2009 which has seen over $300 million in junior capital financing as well as mine development by Barrick Gold Corp. and Anglo Ashanti (two of the world's largest gold mining companies).

Although the "luster" appears to be off the gold market in recent years, it is still priced at all-time highs as opposed to the first part of the 20th century (Gold price US $20-$35 per ounce) and the latter part including the initial years of the current 21st century (Gold Price US $250 - $400 with a few spikes to the US $500 and US $800 level).

This lack of "luster" has contributed to few new gold discoveries and/or new gold mine developments, yet the demand for the "metal" remains high, suggesting a potential supply/demand imbalance (Supported by the fact that the price remains relatively high).

The company is positioned to take advantage of this opportunity.

On Behalf of the Board:

For further information, please contact:

True Zone Resources Inc.
Souhail Abi-Farrage : CEO, President and Director
Telephone: 778-891-2701
Email :

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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