TRX Gold Reports More High-Grade Intercepts at Stamford Bridge Zone extended another 25 meters
TRX Gold Reports More High-Grade Intercepts at Stamford Bridge
Zone extended another 25 meters
TORONTO, Jan. 14, 2025 -- TRX Gold Corporation (TSX: TRX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is
excited to announce, once again, another excellent set of drill results, with hole BMDD319 intersecting 21 metres (“m”) @
8.63 g/t Au from 81 m; BMDD320 intersecting 20.50 metres (“m”) @ 5.14 g/t Au from 125.5 m and BMDD321 intersecting 5
metres (“m”) @ 2.74 g/t Au from 157 m. These drill hole results are downdip extensions at the newly discovered and highly
prospective Stamford Bridge Shear Zone (see Figure 1). They are located approximately 250 m east of the Buckreef Main
Zone—host to Buckreef Gold’s 2M+ ounce Au Mineral Resource 1 and where current operations are ongoing in the Main Pit.
These drill hole results come following the Company’s previous drill results, dated October 24 and November 12, 2024,
whereby the Company announced the discovery of a promising new gold mineralization shear zone, named the Stamford
Bridge Zone, at which results are revealing geological characteristics and mineral alterations similar to that at Buckreef’s Main
Zone.
Significance of this latest drill intercept:
Significant intercept from Hole BMDD319 confirms downdip extension intercepted previously by BMDD310 and is 15 m further
downdip (see Figure 2). Similarly, significant intercept from BMDD320 confirms up-dip extension of previously intercepted zone
by BMDD315;
BMDD321 intercepted the mineralised shear zone further to the northeast 25 m along strike;
These intercepts continue to confirm a “bridge” or an interpreted mineralized shear zone trending 070 degrees East Northeast,
that is showing potential to extend over 1 kilometer. To date, intersections reported over the last few months cover
approximately 150 m of strike length (see Figure 1); and
The Stamford Bridge Zone is a potentially significant shear zone and geologically similar to the Buckreef Main Zone. It is
situated between the Buckreef Main Zone and the Eastern Porphyry deposit and Anfield Zone, to the Southeast (see Figure 1).
Stephen Mullowney, TRX Gold CEO continues, “The Stamford Bridge Shear Zone keeps delivering! This initial exploration work
is paying off thus far and we are eager to launch the ground geophysical survey over the next few weeks, which is expected to
support some very targeted drilling.”
Figure 1. Location of latest drill holes among previous results at the Stamford Bridge Zone
Figure 2. Cross-sections 50 metres apart; results from new drill holes BMDD319 and BMDD320 - Stamford Bridge
Zone
Table 1: Summary of Results – Stamford Bridge
Hole ID Hole
Type
Drill Holes Location
Sample
Depth Width
(m)
Assay
Grade
(gpt)
Lithology CommentEasting
(m)
Northing
(m)
RL
(m) Azimuth Dip From
(m)
To
(m)
BMGT001 DD 391,780 9,658,453 1,218 270 -
50 105.0 115.4 10.4 3.03 Msh
Stamford Bridge
Mineralised shear
zone with strong
alteration
186.6 208.0 21.4 2.42 Msh
393.0 425.8 32.8 1.70 Msh Buckreef main
shearzone
BMDD309 DD 391,676 9,658,400 1,217 334 -
60 101.8 104.5 2.7 1.65 Msh
BMDD310 DD 391,723 9,658,418 1,217 334 -
60 64.5 100.0 35.5 5.48 Msh
Mineralised shear
zone with strong
alteration
BMDD312 DD 391,685 9,658,382 1,216 335 -
60 164.6 180.8 16.2 3.14 Msh
Mineralised shear
zone with strong
alteration
BMDD315 DD 391,770 9,658,435 1,217 335 -
60 130.0 166.0 36.0 7.04 Msh
Mineralised shear
zone with strong
alteration
BMDD319 DD 391,729 9,658,404 1,217 335 -
60 76.0 79.0 3.0 1.21 Msh
Mineralised shear
zone with strong
alteration
BMDD319 DD 391,729 9,658,404 1,217 335 -
60 81.0 102.0 21.0 8.63 Msh
Mineralised shear
zone with strong
alteration
BMDD320 DD 391,765 9,658,447 1,218 335 -
60 125.5 146.0 20.5 5.14 Msh
Mineralised shear
zone with strong
alteration
BMDD321 DD 391,790 9,658,441 1,218 335 -
60 157.0 162.0 5.0 2.74 Msh
Mineralised shear
zone with strong
alteration
The sample chain of custody is managed by the Buckreef geology team on site. Reported results are from diamond drilled
core samples. Intervals of core to be analyzed are split into half using 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. Diamond drilled
core has been a HQ size and recoveries are consistently 100% across all drill holes intercept reported
Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The
QAQC program involves insertion of duplicate samples, blanks and certified reference materials in the sample stream. Gold
analyses are performed by standard fire assaying protocols using a 50-gram charge with atomic absorption (AAS) finish and
a gravimetric finish performed for assays greater than 10 grams per ton.
Sample Preparation and analysis are performed by independent SGS Laboratory in Mwanza, Tanzania. SGS Laboratory is
ISO17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and
reporting.
The results summarized in this release are from Stamford Bridge target. The intercepts confirm an interpreted mineralized
shear zone trending 070 degrees East Northeast that is over a km long. The intersections reported here has covered only
the first 150m strike length, they are down-hole lengths and may not represent true width, however the true width is
estimated to be between 50% - 60% of the length.
Qualified Person
Mr. William van Breugel, P.Eng, BASc (Hons), technical Advisor to TRX Gold Corporation, is the Company’s Qualified Person
under National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”) and has reviewed and assumes
responsibility for the scientific and technical content in this press release.
Sample Protocol QA/QC
The sample chain of custody is managed by the Buckreef geology team on site. Reported results are from diamond drilled
core samples. Intervals of core to be analyzed are split into half using 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. Diamond drilled core
has been a HQ size and recoveries are consistently 100% across all drill holes intercept reported.
Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QAQC
program involves insertion of duplicate samples, blanks and certified reference materials in the sample stream. Gold analyses
are performed by standard fire assaying protocols using a 50-gram charge with atomic absorption (AAS) finish and a
gravimetric finish performed for assays greater than 10 grams per tonne.
Sample Preparation and analysis are performed by independent SGS Laboratory in Mwanza, Tanzania. SGS Laboratory is
ISO17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and
reporting.
The results summarized in this release are from Stamford Bridge target. The intercepts confirm an interpreted shear zone
trending 070 degrees East Northeast that is over a km long. The intersections reported here has covered only the first 150m
strike length, they are down-hole lengths and may not represent true width, however the true width is estimated to be between
50% - 60% of the length.
About TRX Gold Corporation
TRX Gold is rapidly advancing the Buckreef Gold Project. Anchored by a Mineral Resource published in May 2020, the project
currently hosts a Measured and Indicated Mineral Resource of 35.88 MT at 1.77 g/t gold containing 2,036,280 oz of gold and
an Inferred Mineral Resource of 17.8 MT at 1.11g/t gold for 635,540 oz of gold. The leadership team is focused on creating
both near-term and long-term shareholder value by increasing gold production to generate positive cash flow. The positive cash
flow will be utilized for exploratory drilling with the goal of increasing the current gold Resource base and advancing the
Sulphide Ore Project which represents 90% of current gold Resources. TRX Gold’s actions are led by the highest ESG
standards, evidenced by the relationships and programs that the Company has developed during its nearly two decades of
presence in Geita Region, Tanzania.
For investor or shareholder inquiries, please contact:
Investor Relations
Christina Lalli
Vice President, Investor Relations
TRX Gold Corporation
+1-438-399-8665
www.TRXgold.com
Forward-Looking and Cautionary Statements
This press release contains certain forward-looking statements as defined in the applicable securities laws. All statements,
other than statements of historical facts, are forward-looking statements. Forward-looking statements are frequently, but not
always, identified by words such as “expects”, “anticipates”, “believes”, “hopes”, “intends”, “estimated”, “potential”, “possible”
and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved.
Forward-looking statements relate to future events or future performance and reflect TRX Gold management’s expectations or
beliefs regarding future events and include, but are not limited to, statements with respect to continued operating cash flow,
expansion of its process plant, estimation of mineral resources, ability to develop value creating activities, recoveries,
subsequent project testing, success, scope and viability of mining operations, the timing and amount of estimated future
production, and capital expenditure.
Although TRX Gold believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance. The actual achievements of TRX Gold or other
future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of
risks, uncertainties and other factors. These risks, uncertainties and factors include general business, legal, economic,
competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations;
fluctuations in currency exchange rates; changes in costs; future prices of gold and other minerals; mining method, production
profile and mine plan; delays in exploration, development and construction activities; changes in government legislation and
regulation; the ability to obtain financing on acceptable terms and in a timely manner or at all; contests over title to properties;
employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the
exploration, development and mining business. These risks are set forth in reports that TRX Gold files with the SEC and the
various Canadian securities authorities. You can review and obtain copies of these filings from the SEC's website at
http://www.sec.gov/edgar.shtml and the Company’s profile on the System for Electronic Document Analysis and Retrieval
(“SEDAR+”) at www.sedarplus.ca.
The disclosure contained in this press release of a scientific or technical nature relating to the Company’s Buckreef Project
has been summarized or extracted from the technical report entitled “The National Instrument 43-101 Independent Technical
Report, Updated Mineral Resource Estimate for the Buckreef Gold Mine Project, Tanzania, East Africa for TRX Gold” with an
effective date (the “Effective Date”) of May 15, 2020 (the “2020 Technical Report”). The 2020 Technical Report was prepared
by or under the supervision Mr. Wenceslaus Kutekwatekwa (Mining Engineer, Mining and Project Management Consultant)
BSc Hons (Mining Eng.), MBA, FSAIMM, of Virimai Projects, and, Dr Frank Crundwell, MBA, PhD, a Consulting Engineer,
each of whom is an independent Qualified Person as such term is defined in NI 43-101. The information contained herein is
subject to all of the assumptions, qualifications and procedures set out in the 2020 Technical Report and reference should be
made to the full details of the 2020 Technical Report which has been filed with the applicable regulatory authorities and is
available on the Company’s profile at www.sedarplus.ca. The Company did not complete any new work that would warrant
reporting material changes in the previously reported Mineral Resource (“MRE”) and Mineral Reserve statements during the
prior reporting period. The 2020 Technical Report follows the CIM Definition Standards on Mineral Resources and Mineral
Reserves (“CIM Definition Standards”) and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice
Guidelines (“CIM Guidelines”).
The information contained in this press release is as of the date of the press release and TRX Gold assumes no duty to
update such information.
The TSX and NYSE America have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents
of this press release, which has been prepared by the management of TRX Gold.
______________________
1 See Forward-Looking and Cautionary Statements
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