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Tanzanian Gold's Final Feasibility Study of Buckreef Project

The Board of Directors of Tanzanian Gold Corporation takes pleasure in offering an update on the company’s Buckreef Project, following the press release dated March 17th, 2020.

Schematic longitudinal long-hole stope. Image Credit: Tanzanian Gold Corporation.

The press release reported the results of the 2019 drilling campaign—more than double the predicted Mineral Resource for the Buckreef Shear Zone in the Measured + Indicated categories of 2.3 million contained ounces of gold.

Continuous drilling has been carried out in the Tanzanian Gold’s Phase III (Ultra-deep) program launched on February 26th, 2020. The company recently announced the following further updates on the Buckreef Project:

  1. First bucket: The first bucket was excavated on April 6th, 2020, from the Buckreef Open pit, indicating the start of mining for ores to be processed by Tanzanian Gold’s new Oxide Plant. Firstly, topsoil from the oxide open pit will be cleared and stored on a seperate topsoil pad. Once the topsoil is cleared, oxide ore will be stored in various stockpiles on a separate Run-Of-Mine pad for mixing as feed to the Oxide Plant.
  2. Cold commissioning: Tanzanian Gold’s contractor has made an announcement that they intend to start cold commissioning of the Oxide Plant before the end of the month. A cold commissioning test involves running all the parts of the plant without any processing of ore.
  3. Conceptual underground stope: Tanzanian Gold’s Advisor, SGS Canada Inc., has finished a geotechnical evaluation of the Buckreef Deposit at depths below the planned open pit. The report offers suggestions to guide stope, underground infrastructure, and crown pillar designs, with the following main recommendations:
    1. A crown pillar with a thickness of at least 15 m between underground workings and the open pit
    2. Unsupported longitudinal long-hole stopes have been evaluated for widths of 7.5, 10, and 12.5 m for single as well as double, 25-m sub-level intervals heights, with the help of Q′ median values. Now, these Level 1 or conceptual underground stope designs will be advanced to the subsequent level of mine design as the foundation for a prospective underground operation below the scheduled Buckreef open pit. This open pit is the foundation for the 43-101 Pre-Feasibility Report dated June 26th, 2018.
  4. Metallurgical testing started on primary ore: SGS Canada Inc. has commenced the testing of various huge samples at its Lakefield, Ontario, Canada facilities. These samples were gathered from holes drilled recently in the Pre-Feasibility Study open-pit region to obtain critical flow sheet and design information for a huge plant. This plant will process the primary ore found underneath the oxide ore being mined at present and will be the foundation for Tanzanian Gold’s Final Feasibility 43-101 Report.

Following the announcement of a doubling of our highest quality resources we are now well placed to complete our oxide ore project and then proceed to Final Feasibility study as evidenced by today’s updates. We still have several drills on the property as our testing of the ultra-deep potential and the possible extension of the Buckreef Shear Zone continues.

Mr James E. Sinclair, Executive Chairman, Tanzanian Gold Corporation


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