Tanzanian Gold Corporation

11/30/2019 | Press release | Distributed by Public on 11/30/2019 01:32

Tanzanian Gold Corporation Announces 2019 Year End Results

Tanzanian Gold Corporation Plans to Start Mining At Buckreef Property; Continues Focus on the Development of the Buckreef Shear Zone; Announces 2019 Year End Results:

Buckreef Project

The Company is executing its plan to begin gold production at the Buckreef Project. The Company will begin with the mining and processing of high grade oxide reserves at or close to surface at the location of the open pit defined in the 43-101 Pre-Feasibility Study. An oxide open pit and a monthly production schedule has been defined. The Company expects to start a grade control drilling program on this oxide open pit in the next week. SGS/Bateman from South Africa is visiting the site to finalize a design for a 15tph plant to process the oxide reserves. Requests for bids have been published seeking Expressions of Interest for both the mining of the oxide open pit and for the construction of the oxide treatment plant. It is anticipated that the winning mining contractor will be mobilizing to site at the end of January 2020 to start mining. The material extracted will be added to an existing ore and waste stockpiles until the plant construction is completed.

191129 TNX News Release