Tanzanian Royalty Exploration Corporation is pleased to report that diamond drilling at Eastern Porphyry prospect at the Buckreef Gold Project in Tanzania has recorded a significant new intersection of gold mineralization in drill hole BMDD202. This drill hole intersected four new mineralization zones on the target area.
The best intercept from that hole includes 12.22m @ 6.20g/t Au from 99.78m, including 2m @ 31.75g/t Au; 6m @ 1.46g/t Au from 103m; 3m @ 6.74g/t Au from 165m, including 2m @ 9.67g/t Au and 11m @ 9.82g/t Au from 186m, including 3m @ 28.53g/t Au.
The Eastern Porphyry target is located approximately 800m east of Buckreef Main Zone. Gold mineralizations at Eastern Porphyry occur in a sequence of fine grained basalts to medium grained dolerites. This mafic package has been intruded by a series of porphyritic felsic dykes. The dykes are typically pink in colour and possess both quartz and feldspar phenocrysts phases in a fine-grained ground mass. The target area has been partially drilled and drilling continues at this zone.
The intersection reported here is a core down - holes length and may not represent true width but the true width is estimated to be 50 – 60%."The latest assays indicating the discovery of additional gold mineralized veins at the Eastern Porphyry system continue to reinforce our belief that the prospect has significantly more potential as we continue to discover high grade gold mineralized vein systems near surface and at depth. Not only are the grades at the vein system significant but their NE-SW orientation is new, opening up the potential for other veins of similar strike," commented Mr. Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania). "The Eastern Porphyry vein system is one of the potentially significant discoveries made this year in terms of gold grade, intercept width, strike length and the potential for extensions with further drilling".
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts