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Tanzanian Gold Corp.
Summary
| Project: | Buckreef Mine | |
|---|---|---|
| Deposit: | Buckreef Mine | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 5/30/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 30-5-2019: Tanzanian Gold Corp. announces an Exploration/Drilling Update report for its Buckreef Mine deposit at the Buckreef Mine project. Drilling results incl. 89.6m @ 1.5g/t Au from 147m. TORONTO, May 30, 2019 (GLOBE NEWSWIRE) -- Tanzanian Gold Corpor | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Peter Zizhou (Internal) | |
| ABSTRACT: | TORONTO, May 30, 2019 (GLOBE NEWSWIRE) -- Tanzanian Gold Corporation (TSX:TNX) (NYSE American:TRX) (the "Company”) is pleased to announce results from three holes that bring to an end Phase I of the in-pit drilling program. On January 10, 2019, the company announced a three Phase drilling program at the Buckreef Gold project. The primary objective of Phase I was to upgrade Inferred Resources within the open pit, as defined in the June 26, 2018 43-101 Pre-Feasibility Study, as well as to add additional ounces to the pit. In total approximately 4,700m where drilled in the Phase I pit infill drilling program. Mr. James Sinclair, Tanzanian Gold Corporation (TRX) Executive Chairman said of the Phase I results, “Our open pit and the substantive mineralized zones we are confirming both in, and below the pit continue to impress. I believe we are seeing our thesis of wider, deeper, richer being confirmed as we progress our drilling program from Phase I into Phase II. Intersecting 89.6 meters or approximately 294 feet of continuous gold mineralization outside and below the pit is spectacular and bodes well for our future”. Hole U22-1 was a diamond drill hole that went through the open pit and continued outside and below the current pit bottom. Both Hole L19-1 and PBR011 were RC holes that were in the open pit. Each of these three holes intersected significant intervals of continuous gold mineralization ranging from 89.6 m to two intersections of about 30m and to three intersections in the range of 17m - 21.0m. Also notable is the fact that many of these intersections were at an average gold grade that is significantly higher than the weighted gold grade of 1.5 g/t for the entire open pit. | |
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