Connecticut Office Toronto Office:
CONNECTICUT OFFICE TORONTO OFFICE:
PO Box 577 Bay Adelaide Centre, East Tower
U.S.A. 06784 22 Adelaide Street West, Suite 3400
Sherman, CT Toronto, Ontario M5H 4E3 Canada
U.S.A. 06784 Toll Free (844) 364-1830
[email protected] www.tangoldcorp.com
Tanzanian Gold announces SGS-Lakefield metallurgical testing will
confirm design of larger sulphide plant following previous announcement
doubling Mineral Resources
FOR IMMEDIATE RELEASE April 24, 2020
TORONTO, April 24, 2020, (GLOBE NEWSWIRE) - Tanzanian Gold Corporation’s, (TSX:TNX)
(NYSE American:TRX) (the “Company’s”) Board of Directors is pleased to announce that SGS
Canada (SGS) Lakefield will soon be starting comprehensive metallurgical testing on the primary
or “sulphide” gold mineralization in order to finalize a flow-sheet for the design of a large gold
processing plant that will be the basis for the Final Feasibility Study of the Buckreef Project.
The company has shipped fresh core from three metallurgical test holes drilled last year to the
SGS Lakefield site to confirm a conceptual flow-sheet that includes either Gravity Separation with
Gravity Tailing Cyanidation, or Gravity Separation, followed by sulphide Flotation of the gravity
tailing, with regrinding and cyanide leaching of reground sulphide concentrate along with possible
leaching of flotation tailing. These flowsheets constitute low cost and attractive alternatives for the
Buckreef Project. The current round of testing is expected to take approximately five to six months,
following which some additional sampling and variability testing may be required that would arise
from the design of a new open pit which will be initiated shortly. Mr. James MacDonald, Senior
Metallurgist from SGS has reviewed historical reports and recommends the flowsheet testing
options based on that historical review.
On March 17, 2019 the Company announced a doubling of Mineral Resource. In view of this
robust increase, the Company has proposed a preliminary design criteria for the sulphide plant to
treat up to 3.0 million tonnes per year, which is approximately three times more than the amount
processed by the plant that was the basis of the 43-101 Pre-Feasibility Study of June 26, 2018.
The Company believes that the new sulphide processing plant could produce in the range of
150,000 to 175,000 ounces of gold per year.
States Mr. James E. Sinclair, Executive Chairman of the Company “Today’s announcement
that one of the world’s premier metallurgical facilities will be confirming a new flow sheet is a
direct result of our prior announcement that the Company has more than doubled its Mineral
Resources.” Mr. Sinclair goes on to state that “with the addition of the new sulphide plant,
the Buckreef Project could have two ore treatment plants producing at the same time.”
Respectfully Submitted,
“James E. Sinclair”
James E. Sinclair
Executive Chairman
For further information, please contact Michael Martin, Investor Relations, via email at
[email protected], direct line 860-248-0999, or visit the Company website at www.tangoldcorp.com
The Toronto Stock Exchange and NYSE MKT LLC have not reviewed and do not accept responsibility for the adequacy or accuracy
of this release
Cautionary Note to U.S. Investors - The United States Securitie s and Exchange Commission limits disclosure for U.S.
reporting purposes to mineral deposits that a company can econo mically and legally extract or produce. We use certain
terms on this news release, such as “reserves”, “resources”, “g eologic resources”, “proven”, “probable”, "measured",
"indicated", or "inferred" which may not be consistent with the reserve definitions established by the SEC. U.S. Investors
are urged to consider closely the disclosure in our SEC filings . You can review and obtain c opies of these filings from the
SEC's website at http://www.sec.gov/edgar.shtml
This news release contains certain forward-looking statements a nd forward-looking information. All statements, other than
statements of historical fact, included herein are forward-look ing statements and forward-looki ng information that involve var ious
risks and uncertainties. There can be no assurance that such st atements will prove to be accurate, and actual results and futu re events
could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially
from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia,
Alberta and Ontario provincial securities regulatory authorities.
Certain information presented in this release may constitute “f orward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known
and unknown risks, uncertainties and other factors, including r isks inherent in mineral explor ation and development, which
may cause the actual results, performance, or achievements of t he Company to be materially different from any projected future
results, performance, or achievements expressed or implied by s uch forward-looking statements. Investors are referred to our
description of the risk factors affecting the Company, as conta ined in our SEC filings, including our annual report on Form 20 -F and
Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.