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Tanzanian Royalty Exploration Corp
Symbol C : TNX
Shares Issued 134,584,333
Close 2019-03-25 C$ 1.24
Recent Sedar Documents

Tanzanian drills three m of 25.17 g/t Au at Buckreef

2019-03-25 18:05 ET - News Release

Mr. James Sinclair reports

TANZANIAN ROYALTY ANNOUNCES NEW RESULTS FROM UPGRADE DRILLING AT BUCKREEF

Tanzanian Royalty Exploration Corp. has released further assay results from its continuing infill reverse circulation (RC) drill program at its Buckreef project, aimed at upgrading the known mineral resources within the open pit and to better define potential mineralized zones below the open pit as reported and published in the June, 2018, prefeasibility National Instrument 43-101 technical report.

Significant intercepts reported from two additional drill holes targeting the Buckreef Main zone include highlights as follows:

  • Hole PBR05 intersected 28 metres of gold mineralization grading 4.23 grams per tonne gold from 48 m to 76 m, including:
    • 16 m grading 6.72 g/t gold from 60 m to 76 m, including:
    • Three m grading 25.17 g/t gold from 69 m to 72 m;
  • Hole PBR07 intersected 30 m grading 1.27 g/t gold from 142 m to 172 m, including:
    • Three m grading 2.32 g/t gold from 151 m to 154 m;
    • Eight m grading 1.84 g/t gold from 155 m to 163 m.

In addition, assay results for six drill holes, PBR06, PBR08, PBR024, PBR025, PBR028 and PBR029, drilled to target the strike and downdip extension of gold mineralization associated with a hangingwall zone, one of two major splays associated with the Buckreef main shear, returned wide but low-grade gold values with assay highlights, including:

  • 132 m of gold mineralization in 33 narrow stringer zones; including:
    • Hole PBR08 intersected two m grading 1.32 g/t gold from 115 m to 117 m;
    • Hole PBR06 intersected several narrow zones, including:
      • One m grading 1.07 g/t gold from 59 m to 60 m;
      • Two m grading at 1.46 g/t gold from 62 m to 64 m;
    • One m grading 1.09 g/t gold from 76 m to 77 m;
  • All other zones intersected gold mineralization of less than 1.0 g/t gold.

The intersections reported herein are a downhole length and may not represent true width, but the true width is estimated to be 50 to 60 per cent.

Jim Sinclair, chairman, commented, "We are pleased with the new results from our ongoing RC drilling program within the limits of the open pit, as well as with the new emphasis, to better define more robust mineralized zones that may extend below the pit bottom."

Mr. Sinclair noted: "In addition to the two RC drill rigs, we now have a third diamond drill rig at the site that is capable of drilling to depths of approximately 600 metres. This rig has completed approximately 200 metres and expects to hit its main target at around 300 to 350 metres."

Sample protocol and quality assurance/quality control

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 (0.01 part per million 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 QA/QC 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, 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 (registration No. 400028/08).

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