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Tanzanian Royalty Announces High Grade Assay Results From Drilling Program At Buckreef Project In Lake Victoria Goldfields Of Tanzania

Stocks in this article: TRX

Tanzanian Royalty Exploration Corporation is pleased to report additional high grade assay results from the ongoing reverse circulation and diamond drilling program at its Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania.

Diamond drill hole BMDD108 returned 16m grading 2.23 g/t gold from 149m, including a high grade section of 2.0m averaging 7.03 g/t from 163m. In addition, the hole contained 5.0m grading 1.04 g/t from 170m, including 1.0m @ 3.86 g/t from 170m in sheared and altered felsic porphyry.

Diamond drill hole BMDD109 included 35.35m grading 2.75g/t gold from 131.65m, including 6.35m @ 5.75 g/t from 131.65m, 4.7m @ 4.33 g/t from 158.3m; 1.0m @ 3.91 g/t from 104m; and 2.0 m @ 0.55 g/t from 212m.

Hole BMDD110 was drilled in the Hanging Wall Zone of the Main Buckreef deposit and included 4.0m grading 1.08 g/t from 16m, including 1.0m @ 3.16g/t from 17m in sheared dolerite with sulphides. In addition, the hole reported 2.0m @ 1.09 g/t from 107m.

Hole BMDD110 also targeted the down dip potential in the Main Zone, returning 30m grading 2.66 g/t gold at 145m, including 2.0m @ 6.5g/t from 169m, including 5.0m @ 4.06g/t from 153m. The deepest segment of this hole returned 2.0m @ 1.77g/t from 197m in sheared, altered dolerite intercalated with felsic porphyry and milky white late quartz veins.

Several deep holes were drilled in the vertical to sub-vertical Buckreef Main ore shoot by previous operators, some of which extended up to 400m down-dip in depth. Most of these holes serve to define existing resources in the Inferred resource category. The currently planned down dip test holes are intended to upgrade some of the Inferred resource at Buckreef to the Indicated category.

Approximately 10 more holes remain to be drilled at Buckreef Main to test the zone’s down dip potential which ranges in depth from 200m to 400m. The zone appears to increase in thickness at depth, with high grade gold values reported in several intercepts. Holes BMDD109 and BMDD 110 are specifically intended to test this depth potential. The holes above are estimated to be approximately 60% of true width.

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