Tanzanian Gold Announces Further Results From Drilling Below Pit
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 Further Results From Drilling Below Pit
Bottom Highlights Include 63m @ 4.8 g/t Au incl 22m @ 9.3 g/t Au that
incl 2m @ 31.1 g/t Au
FOR IMMEDIATE RELEASE June 6, 2019
TORONTO, June 6, 2019 (GLOBE NEWSWIRE) -- Tanzanian Gold Corporation’s, (TSX:TNX) (NYSE
American:TRX) (the “Company’s”) Board of Directors is pleased to announce results from the third hole,
Hole L19-2, of the Phase II drilling program. The objective of Phase II is to identify gold mineralization
in the range of 50 to 200m below the pit bottom of the open pit that is the basis of the 43-101
compliant Prefeasibility Study dated June 26,2018. The two previous drill holes in Phase II are Holes
13-3 and U22-1. All three holes have encountered significant mineralized widths that include notable
intersections of high grade.
Notable intercepts in the third hole are:
Hole L19-2
63.0m grading @ 4.8 g/t Au from 357m to 420m; including
o 1.0m grading @ 7.4 g/t Au starting at 360m,
o 4.0m grading @ 5.9 g/t Au starting at 369m,
o 22.0m grading @ 9.3 g/t Au starting at 387m; including
6.0m grading @ 18.9 g/t Au that includes 2.0m grading @ 31.1 g/t Au
The intersections reported here are a down-hole length and may not represent true width but the
true width is estimated to be 50 – 60%.
Mr. Jim Sinclair, Chairman (TRX) commented, “ The systematic drilling we are doing below the pit
bottom has, to date, yielded exceptionally robust result s " noted Mr. Sinclair " we will be using these
results to help us formulate a Phase III program that will, in part, be directed at testing what we are
calling the Ultra-Deep." Mr. Sinclair went on to state that "We will also soon be doing a sophisticated
program of down - the - hole geophysics to expand our Resource Geological model and better
identify drill targets for Phase III."
Sample Protocol and QA/QC
The sample chain of custody is managed by the Buckreef technical team under the supervision of
Anthony Minde. Gold analyses reported in this release were performed by standard fire assay
using a 50-gram charge with atomic absorption finish (0.01ppm LLD) and a gravimetric finish for
assays greater than 10 grams per tonne. All assays were performed by Nesch Mintech
Laboratory in Mwanza. Sampling and analytical procedures are subject to a comprehensive quality
assurance and quality control program. The QAQC program includes duplicate samples, blanks
and analytical standards.
Intervals of core to be analyzed are split in half with a mechanized core cutter, with one half
sent to the Laboratory for geochemical analysis and the remaining half kept in storage for future
reference and uses.
Nesch Mintech Laboratory is ISO 90001 and 17025 accredited and employs a Laboratory
Information Management System for sample tracking, quality control and reporting.
Qualified Person
The Company’s Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of
this news release. Mr. Zizhou has a Master of Science (Exploration Geology) degree from the
University of Zimbabwe (2000) and is a registered professional natural scientist with SACNASP
(Reg. No. 400028/08).
Respectfully Submitted,
“James E. Sinclair”
James E. Sinclair
Executive Chairman
For further information, please contact Michael Martin, Investor Relations,
[email protected], 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 S ecurities and Exchange Commission limits disclosure for U.S.
reporting purposes to mineral deposits that a company can ec onomically and legally extract or produce. We use certain
terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, "measured",
"indicated", or "inferred" which may not be consistent with th e reserve definitions established by the SEC. U.S. Investors
are urged to consider closely the disclosure in our SEC filings. You can review and ob tain copies of thes e filings from the
SEC's website at http://www.sec.gov/edgar.shtml
This news release contains certain forw ard-looking statements and forward-looking in formation. All statements, other than
statements of historical fact, included herein are forward-looki ng statements and forward-looki ng information that involve vari ous
risks and uncertainties. There can be no assurance that such stat ements will prove to be accurate, and actual results and futur e 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 “forward-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 fa ctors, including risks inherent in mine ral exploration and development, which
may cause the actual results, performance, or achievements of the Company to be materially different from any projected future
results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our
description of the risk factors affecting the Company, as cont ained 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.