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 Announces Awarding Of Contract For RC Drilling Program At Buckreef Gold Project In Tanzania

Stocks in this article: TRX

Tanzanian Royalty is pleased to announce that Aqua Drill Tech (U) Ltd. has been awarded a contract to complete 7,200 metres of Reverse Circulation (RC) drilling at the Company’s Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania.

Aqua Drill will utilize a SuperRock 1000 with a high pressure Sullair 900 cfm/350 psi trailer-mounted compressor for the drill program which is expected to begin in early March. The objective of the RC drilling program is to define, delineate and upgrade resources at Buckreef in support of an updated 43-101 compliant resource report.

“We are pulling out all the stops to build on our recent successes at Buckreef,” said Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania), who also noted that “The Company’s ability to expand resources along strike and at depth can only enhance the long term viability of Buckreef and the benefits accruing to all stakeholders including the people of Tanzania with whom we have entered into an historic partnership.”

The main focus of this RC drilling program is to confirm the significant gold mineralization encountered in four recent diamond drill holes in the Eastern Porphyry prospect. (See January 10, 2012 News Release). These diamond drill holes were completed in December 2011 and were designed to establish and understand the structure controlling mineralization at Eastern porphyry target. The diamond drilling program was also designed to investigate the down-dip extension of previously confirmed high grade mineralization to a vertical depth of 200m which is expected to be the final depth of the open pit at commercial production and the lateral extension of footwall and hanging wall zones of the Buckreef deposit.

The second phase of the RC drill program will include infill drilling and step-out drilling to test the strike extension of the Buckreef North and the NE extension of the Tembo mineralization.

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 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

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