Tajiri Resources Corp.
TSX VENTURE : TAJ

Tajiri Resources Corp.

November 23, 2016 14:52 ET

Tajiri Resources Corp.: Drilling within 2 weeks at the Company's Kaburi Gold Project, Guyana

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 23, 2016) - Tajiri Resources Corp. (the "Company") (TSX VENTURE:TAJ) is pleased to announce that it will continue exploration at the Kaburi Project with diamond drilling at the Gussie prospect starting within 2 weeks and first results expected in January 2017.

Located in the southwestern portion of the Kaburi Project the Gussie Prospect is located 4km north of the Smarts deposit at ASX-listed Troy Resources' operating Karouni gold mine (16.7Mt @ 3.1g/t Au; 1.65 Moz Au), in central Guyana. The Smarts deposit was discovered in 2011 by drilling a vein system exposed in artisanal pits.

The Gussie prospect comprises two artisanal pits, 75m wide with a total length of 500m, where, since 2012, artisanal miners have exploited bedrock gold bearing quartz veins. Within the district the Gussie prospect, after the Smarts and White Hole pits, is reputedly the third largest artisinal gold producer from in-situ gold mineralisation, yet Gussie remains undrilled.

The Gussie gold vein zone comprises massive and sheeted quartz veins hosted by deformed subvertical northwest-trending mafic and felsic volcanics. Saprolitic volcanics are exposed below a cover of unconsolidated sand, which is up to 5m thick. Bedding and structural data indicate that mineralisation occurs on the eastern limb of an anticline plunging shallowly northwestward, similar to the structural setting of mineralisation in the Karouni Mine.

An initial drill program comprising an initial 500 metres of diamond core will explore the width and strike length of the Gussie vein systems exposed in the pits.

Previous RC drilling by Tajiri Resource Corp, 3.8km east of Gussie, intersected gold-bearing veins within a northwest-trending zone up to 50m wide. The best intersections were 22m @ 2.69g/t Au from 8m (KRC13) and 8m @ 6.48g/t Au from 6m (KRC031) intersected from 6.0m, hosted by saprolite. The zone is related to the regional northwest-trending Aurora-Gem Creek Shear, subparallel to the Smarts-Hicks Shear that houses the deposits of the Karouni Mine. Troy Resources are currently drilling the Gold Star prospect, 1km northwest and along strike from the Tajiri RC drill hole intercepts. The Gussie structure occurs between the Smarts-Hicks and Aurora-Gem Creek Shears and is yet to be drilled.

Dominic O'Sullivan, who discovered the Karouni deposits and is chairman of Tajiri Resources, declared that: "With the completion of our private placement exciting times for Tajiri have begun. We are not only commencing drilling but also embarking on building a portfolio of significant ground in Guyana with manifest drill-ready gold targets."

All information relating to geological results, drill plans, or other facts, statements of any geotechnical nature have been prepared by Mr. Dominic O'Sullivan. Mr. O'Sullivan is a professional geologis, holding a BSc (Hons) in Geology from University of Sydney and is a member in good standing with the MAusIMM. As such he is a qualified person as the term is defined by TSX Venture Exchange, and under National Instrument NI43-101 regulation and responsible for the relating contents of this release.

on Behalf of the Board,

Dominic O'Sullivan, Chairman, Director

Tajiri Resources Corp.

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.

To view "Figure: Gussie prospect drill target within the Kaburi Project boundary on regional airborne magnetics," please visit the following link: http://media3.marketwire.com/docs/1077621Figure.pdf.

Contact Information

  • Tajiri Resources Corp.
    Graham Keevil
    President/CEO
    604-642-0115 or Toll Free 866-345-0115
    604-642-0116 (FAX)
    ir@tajiricorp.com