Tanzanian Gold Confirms that Buckreef Zone Still Open to N.E.
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 Confirms that Buckreef Zone Still Open to N.E.
Intercept of 31.0m @ 2.5 g/t; including 1.0m @ 11.9 g/t and 1.0m @ 15.5 g/t Au
FOR IMMEDIATE RELEASE October 11, 2019
TORONTO, October 11, 2019 (GLOBE NEWSWIRE) -- Tanzanian Gold Corporation’s, (TSX:TNX) (NYSE
American:TRX) (the “Company’s”) Board of Directors is pleased to announce further assay results from
its ongoing Phase II dr ill program at its Buckreef Project to define potential mineralized z ones
below the open pit as reported and published in the June 2018 Pre-Feasibility National
Instrument 43-101 Technical Report, and to extend the mineralization to the Northeast.
The significant intercepts reported today are outside the open pit on the last grid line and indicate
that the Buckreef Mineralized Zone is still open to the Northeast.
Hole L25-1 intersected 42.0 m of gold mineralization grading @ 2.0 g/t Au from
649 including
31.0 m grading @ 2.5 g/t Au from 650m including:
3.0m grading @ 2.32 g/t Au from 650m
6.0m grading @ 2.0 g/t Au from 654m
2.0m grading @ 6.9 g/t Au from 662m including
1.0m grading @ 11.9 g/t Au at 663m
7.0m grading @ 4.0 g/t Au from 668m including
1.0m grading @ 15.5 g/t Au at 670m
2.0m grading @ 4.4 g/t Au from 679m including
1.0m grading @ 6.8 g/t Au at 680m
4.0m grading @ 1.6 g/t Au from 687 m
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, “We are pleased with these results as they have
confirmed our prior belief that the Buckreef Mineralized Zone is still open to the Northeast. Once we
complete the last stage of Phase II that is currently targeting the high grade core below the open pit
bottom we will be coming back to the Northeast Extension to test how far the Buckreef Mineralized
Zone extends beyond hole L 25-1".
Sample Protocol 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 regist ered professional natural scientist with SACNASP
(Reg. No. 400028/08).
Respectfully Submitted,
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 Securities and Exchange Commission
limits disclosure for U.S. reporting purposes to mineral deposits that a company can
economically 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 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 copies of these filings from the SEC's website at
http://www.sec.gov/edgar.shtml
This news release contains certain forward-looking statements and forward-looking information. All
statements, other than statements of historical fact, included herein are forward-looking statements
and forward-looking information that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate, and actual results and future 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 factors, including risks inherent in mineral exploration and development,
which may cause the actual results, performance, or achievements of the Company to be materially
different from any projected future results, perfo rmance, or achievements expressed or implied by
such forward-looking statements. Investors are referred to our description of the risk factors
affecting the Company, as contained 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.