This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Tanzanian Royalty Reports High Grade Gold Assays From Buckreef Project And Significant Expansion Of Gold Bearing Horizon At Depth

Stocks in this article: TRX

The Company is pleased to announce the receipt of additional assay results from the ongoing drill program at its Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania.

The latest drill results include the highest grade gold values reported to date from the Buckreef Main Zone where drilling continues to confirm an increase in grade and thickness at depth, leaving open the possibility of expanding open pit mining and of underground mining to compliment open pit production.

Hole BMDD127 returned an intercept of 19.0 metres grading 10.58g/t gold from 155 metres which included 9.0 metres averaging 19.06 g/t gold from 156 metres and 5.0 metres grading 25.97g/t gold from 160 metres. The gold mineralization occurs within sheared mafic rocks intercalated with felsic porphyry with strong quartz-carbonate-pyrite alteration which is the main control of high grade gold mineralization.

Joseph K Kahama, Chairman and Chief Operating Officer (Tanzania) describes Hole BMDD127 as “exceptional and certainly beyond anything we have encountered before at Buckreef.” In addition, he confirms that the drilling has intersected “a number of mineralized zones of significant thicknesses at vertical depths down to 200m along with the presences of several gold-bearing structures.”

“With the current exploration program focused on testing the upside potential in the deeper levels of the Buckreef deposit, we expect to increase our knowledge regarding the continuity and grade of these zones,” he adds. “We also expect to further increase the confidence level we have in the Buckreef gold project, lending support to increasing our resource base and leaving additional potential in mineralized zones below a vertical depth of 200m which remains largely untested.”

Three additional holes from the Buckreef Main Zone also returned excellent gold values over good thicknesses:

Hole BMDD124 encountered an intercept of 14.0 metres grading 1.75g/t gold which included 3.0 metres averaging 3.72g/t gold from 206 metres;

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

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