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Drilling In East Porphyry Area At Tanzanian Royalty’s Buckreef Project Confirms Existence Of New Gold Zone

Stocks in this article: TRX

Tanzanian Royalty wishes to report that it has received impressive assay results from the ongoing diamond and reverse circulation (RC) drilling programs on the Eastern Porphyry Prospect at its Buckreef Gold Project in the Lake Victoria goldfields of Tanzania. The drilling programs commenced in September 2011.

According to Joseph K. Kahama, Chairman and Chief Operating Officer, “The drill program has served to verify the significance of the results obtained by previous operators including IAMGOLD which were not in the public domain but were discovered during our Buckreef data review process.”

“The latest drill results not only support and enhance the earlier drill programs, they confirm the existence of a fifth gold zone at Buckreef along with the potential to enhance our production expectations for this development stage gold project.”

Highlights from the recent drill program are included in the following table:

Hole ID  

Sample Depth (m)


Width (m)*


Grade (g/t)

  From   To  
BMDD101 66.00 70.80 4.80 4.63
BMDD101 109.00 111.00 2.00 7.47
BMRC514 46.00 48.00 2.00 1.77
BMRC519 16.00 17.00 1.00 1.98
BMRC519 18.00 19.00 1.00 0.64
BMRC521 61.00 64.00 3.00 0.50
BMRC523 1.00 5.00 4.00 0.55
BMRC523 14.00 19.00 5.00 3.16
BMRC524 0.00 3.00 3.00 0.70
BMRC524 33.00 34.00 4.00 0.68

* Drill intercepts are estimated to be 70-80% of true widths DD = Diamond Drilling RC = Reverse Circulation Drilling

Past results are included in the following table:


Sample Depth (m)


Width (m)*


Grade (g/t)

From   To
NLRC013 41.00 42.00 1.00 3.75 Phase 1 RC Drilling-Ashanti
NLRC026 93.00 94.00 1.00 3.43 Phase 1 RC Drilling-Ashanti
NLRC026 116.00 120.00 4.00 2.07 Phase 1 RC Drilling-Ashanti
NLRC027 11.00 13.00 2.00 5.67 Phase 1 RC Drilling-Ashanti
NLRC028 52.00 54.00 2.00 2.06 Phase 1 RC Drilling-Ashanti
NLRC029 62.00 65.00 3.00 2.18 Phase 1 RC Drilling-Ashanti
NLRC030 53.00 55.00 2.00 8.81 Phase 1 RC Drilling-Ashanti
NLRC032 24.00 25.00 1.00 3.87 Phase 1 RC Drilling-Ashanti
NLRC033 74.00 75.00 1.00 2.51 Phase 1 RC Drilling-Ashanti
BMRC392 40.00 41.00 1.00 2.93 Phase 2 RC Drilling-IAMGOLD
BMRC393 25.00 43.00 18.00 6.58 Phase 2 RC Drilling-IAMGOLD
BMRC394 3.00 4.00 1.00 3.52 Phase 2 RC Drilling-IAMGOLD
BMRC394 17.00 18.00 1.00 3.69 Phase 2 RC Drilling-IAMGOLD
BMRC499 17.00 18.00 1.00 2.81 Phase 2 RC Drilling-IAMGOLD

The Buckreef Project consists of four prospects, namely the historic Buckreef Gold Mine at the western limit of the project area, the Tembo and Bingwa prospects, and the Buziba prospect 20km to the east. The Eastern Porphyry prospect is located some 800m in the footwall of the Main Zone of the historic Buckreef mine which operated briefly as an underground gold producer.

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