This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tanzanian Royalty Reports More Positive Results From Phase 2 Drilling Program In Footwall Zone On Eastern Porphyry Prospect At Buckreef Project

Stocks in this article: TRX

Tanzanian Royalty Exploration Corporation is pleased to announce the receipt of further positive assay results from the ongoing Reverse Circulation (RC) drilling program in the Footwall Zone at the Company's Buckreef Project in the Lake Victoria Goldfields of Tanzania.

The latest results include values that are among the best reported to date by any operator at Buckreef, notes Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania). Drill-hole BMRC512 returned 3.0m averaging 1.29 g/t gold from 38m; BMRC523 included 6.0m averaging 2.67g/t from 13m; BMRC536 returned 5.0m averaging 2.62g/t from 60m; BMRC537 returned 6.0m averaging 4.87g/t from 76m while BMRC538 returned 6.0m averaging 1.63g/t from 37m. True widths are estimated to be 60% of the apparent widths. The RC drilling program has so far seen the completion of 29 RC holes aggregating 1,183metres.

The Main mineralized shear zone at Buckreef includes the Buckreef Main Zone, Buckreef North Zone and Buckreef South Zone which are constrained between two cross-cutting faults. Buckreef Footwall and Hanging wall zones are developed on either side of the Buckreef Main Zone as fault splays from the main Buckreef fault shear zone. These splays were probably developed during the reactivation of the main Buckreef northeast shear. The near surface intercepts on the Hanging wall and Footwall zones are developed in the oxide zone and within quartz-carbonate-pyrite altered zones of basaltic and dolerite rock units. These particular units offer the best opportunity to increase the size of the proposed open pit at Buckreef.

The Footwall Zone is located 50-100m in the immediate vicinity of the Buckreef Main zone while the Hanging wall Zone is located approximately 75m in the Hanging wall of the Buckreef Main zone. As part of the ongoing resource definition drilling program at Buckreef, the Company commenced a Phase 2 RC drilling program on the Buckreef Main Zone and its northern strike extension to verify previous drilling results and establish the strike and down-dip continuity of mineralization identified in previous drilling.

1 of 3

Select the service that is right for you!

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.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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