Tanzanian Royalty Exploration Corporation is pleased to announce that it has received further assays from its ongoing deep drilling program at the Buckreef Gold Project in Tanzania. This hole is part of a program of drilling designed to extend and confirm the mineralisation potential at depth.
- Highlight is 12 metres grading 5.22g/t gold from 336 metres in drill hole BMDD158 which include 5 metres grading 7.31g/t gold from 341 metres. This is the best result from deep drilling sampling at Buckreef.
- The intersected gold zone is characterized by brecciated quartz vein and strong silica-sericite-carbonate-pyrite alteration.
- The deep drilling program has provided the first opportunity to sample the deep mineralisation at Buckreef and confirmed the width and grade of gold mineralization at depth.
The intersection reported here is a core length and may not represent true width but the true width is estimated to be 50 – 60%.
The gold mineralization at the Buckreef is hosted in shear zones emplaced along the fine grained basaltic sequence, medium grained dolerite and strongly altered felsic porphyry units, associated with gold-bearing quartz-sericite-carbonate-pyrite alteration assemblages. The best gold grades are confined within brecciated and altered dolerite with felsic porphyry intercalation and grey quartz vein with fine disseminated pyrite.“We are pleased with this higher grade assay results from core drilling at Buckreef,” commented Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania). “These results show that our drilling has been successful and has provided the first opportunity to sample the deep mineralisation at Buckreef." He further added, "This drill intercept has confirmed the width and gold grade of greater than 12m wide hydrothermal veined mineralized system with a well developed silica-sericite-carbonate-pyrite alteration. This will serve to further increase our level of confidence associated with the Buckreef Gold Project and, we expect, increase our resource base meanwhile, all mineralized zones below a vertical depth of 350m below surface remain largely untested.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV