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Tanzanian Royalty Reports More Positive Drill Results From The Ongoing Diamond And Reverse Circulation Drilling Program At Its Buckreef Main And Tembo Prospects

Stocks in this article: TRX

Tanzanian Royalty is pleased to announce the receipt of more positive assay results from the ongoing Diamond (DD) and Reverse Circulation (RC) drilling program in the Buckreef Main and Tembo prospects at the Company's Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania.

The latest results represent a continuation of the positive results that the Company has been obtaining from various targets being tested in the ongoing drilling program which started in October 2011.

According to Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania), “The amazing consistency of the drill results we are reporting across the broader Buckreef property suggests plenty of room for resource growth which can only enhance the Preliminary Economic Assessment that is currently being finalized.”

The recent drill results from the Buckreef Main and Tembo prospects are summarized below:

BMDD112 returned 2.13m @ 2.92g/t gold including 1.0m @ 10.8g/t gold;

BMDD114 returned 6.0m @ 1.05g/t gold and 5.7m @ 1.57g/t gold;

BMDD115 returned 5.47m @ 2.0g/t gold and 27m @ 2.7g/t gold;

BMDD116 returned 4.0m @ 3.2g/t gold, 3.0m @ 3.16g/t gold and 7.0m @ 3.47g/t gold;

BMDD119 returned 3.3m @ 2.53g/t gold and 13m @ 2.86g/t gold;

BMDD120 returned 3.0m @ 4.06g/t gold;

BMDD121 returned 4.0m @ 1.0g/t gold and 2.0m @ 1.1g/t gold;

BMDD122 returned 7.0m @ 1.23g/t gold, 2.0m @ 1.24g/t gold and 6.0m @ 1.28g/t gold;

BMDD123 returned 13m @ 1.71g/t gold, 7.0m @ 1.63g/t gold and 4.0m @ 1.29g/t gold;

TMRC113 returned 3.0m @ 14.75g/t gold and 6.0m @ 3.38g/t gold;

TMRC114 returned 3.0m @ 2.62g/t gold;

TMRC115 returned 2.0m @ 1.92g/t gold;

The diamond drill holes BMDD112 through BMDD119 were aimed at investigating the Northeast Extension of the Buckreef Main Zone while BMDD120 to BMDD123 were directed at evaluating and upgrading the current Inferred Resource to the Measured and Indicated category between depths of 150m and 200m below surface. The holes above are estimated to be approximately 60% of true width.

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