This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Tanzanian Royalty Receives Approval For Enlargement Of Special Mining License At Buckreef Gold Project

Tanzanian Royalty Exploration is pleased to announce that the government of Tanzania has approved the application for the expansion of the area covered by the Special Mining License for the Company’s Buckreef Gold Project. As a result, the mining license for Buckreef has been expanded from 3.45 square kilometres to approximately 16.04 square kilometres - almost five times its original size.

The Special Mining License now covers the entire Buckreef property and gives the Company the exclusive right to prospect and mine minerals for a period of 25 years, with an option to renew for a similar period of time.

According to James E. Sinclair, President and CEO of Tanzanian Royalty, “Ministerial decisions of this nature assume there is a reasonable expectation that sufficient deposits or reserves of minerals are available to justify their commercial exploitation.”

“We have every reason to believe that the current resources established at Buckreef are economically viable and that ongoing exploration and the incorporation of satellite deposits in the region into our production plans will positively impact our operations.”

Tanzanian Royalty is currently in the process of completing a Preliminary Economic Assessment (PEA) for the Buckreef Project which is due out early in the New Year. Following the completion of a Pre-feasibility study, the Company intends to fast track the open pit development process at Buckreef in order to facilitate the ramp-up to mining and full commercial production.

The Buckreef Project contains National Instrument 43-101 compliant gold resources at a 0.5 g/t cutoff grade in the following categories: Measured, 5.176 million tonnes grading 2.05 g/t (341,000 oz); Indicated, 24.97 million tonnes averaging 1.19 t/g (954,000 oz); Inferred, 17.173 million tonnes grading 1.51 g/t (835,000 oz).

The geological continuity and grade distribution of the Buckreef mineralization is well constrained and the upside potential to define additional Mineral Resources in extensions of known deposits is presently being confirmed by drilling, the Company reports.

Stock quotes in this article: TRX 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs