02/15/2020 | Press release | Distributed by Public on 02/15/2020 00:46
Tanzanian Gold announces 4,291,000 ounces of gold contained in unclassified resources at the conclusion of its Phases 1 & 2 Resource Upgrade drilling along the 1.2km Buckreef Shear Zone.
Tanzanian Gold Corporation's, (TSX:TNX) (NYSE American:TRX) (the 'Company's') Board of Directors is pleased to announce Unclassified Mineral Resources for the 1.2km long Buckreef Shear Zone that amount up to 4,291,000 ounces contained in 242.4 million tons grading at 0.57 g/t Au at a block cutoff grade of 0.1 g/t Au. The Unclassified Mineral Resources are from an unconstrained block model using all the drilling results to date. Results at higher cut-off grades are shown in the table below.
As a consequence of the drilling program the Company completed in 2019, the largest drilling campaign in the Company's history amounting to over 17,650m in 60 holes during which a significant number of exploration targets were identified which require further drilling to upgrade the gold mineralization encountered in these exploration areas to the Inferred category.