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Tanzanian Gold Corp.
Summary
| Project: | Buckreef Mine | |
|---|---|---|
| Deposit: | Buckreef Mine | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 5/4/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 4-5-2017: Tanzanian Gold Corp. announces a Feasibility Study report for its Buckreef Mine deposit at the Buckreef Mine project. Updated mineral reserves and feasibility study results. MaSS Resources (Pvt.) Ltd was commissioned by Tanzam2000, a subsidiary | |
| Resources: | ||
| CP/QP: | [Resources]: Alistides S. Ndibalema, Benjamin C. Safi, Charles S. Mihayo (MaSS Resources Ltd.) | |
| ABSTRACT: | MaSS Resources (Pvt.) Ltd was commissioned by Tanzam2000, a subsidiary to Tanzanian Royalty Exploration Corporation to produce an independent NI43-101 compliant mine design and costing Feasibility Study on the Buckreef Gold Mine Project located in the Lake Victoria Goldfields, Geita District, in North Central Tanzania. This report provides a technical updated reserve estimate, open pit mine design and financial model Feasibility Study on the gold mineralization at the Buckreef Project, incorporating historical recommendations from previous studies as well as current and future projected economic considerations. This study was completed during November 2016 to April 2017. The Buckreef Project is comprised of four mineral deposits, namely the Buckreef, Eastern Porphyry, Tembo, and Bingwa which are located on a single special mining license. Buckreef deposit may be divided into three contiguous deposits South, Main and North stretching over a combined total strike length of 1,500m. Tanzanian Royalty Exploration Corporation (TRX) through its subsidiary company Tanzam2000 holds a 55% interest in the Buckreef Project the rest is held by the government of Tanzania through its State Mining Company (STAMICO). The Buckreef Project is in north-western Tanzania, near the town of Geita, approximately 110 km south-west of Mwanza city, the second largest city of Tanzania. Mwanza, the city is serviced by domestic air flights. This mining feasibility study indicates a robust project and MaSS recommends that the project advance to detailed engineering in support of the construction of a mine and process facility at Buckreef. It recommends that the Buckreef project is financially positive and mining operations can be executed after approval. | |
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