Tanzanian Gold announces SGS-Lakefield metallurgical testing

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Tanzanian Gold announces SGS-Lakefield metallurgical testing will confirm design of larger sulphide plant following previous announcement doubling Mineral Resources

Tanzanian Gold announces SGS-Lakefield metallurgical testing

Tanzanian Gold announces SGS-Lakefield metallurgical testing

FOR IMMEDIATE RELEASE

April 24, 2020

Tanzanian Gold announces SGS-Lakefield metallurgical testing

TORONTO, April 24, 2020, (GLOBE NEWSWIRE) – Tanzanian Gold Corporation’s, (TSX:TNX) (NYSE American:TRX) (the “Company’s”) Board of Directors is pleased to announce that SGS Canada (SGS) Lakefield will soon be starting comprehensive metallurgical testing on the primary or “sulphide” gold mineralization in order to finalize a flow-sheet for the design of a large gold processing plant that will be the basis for the Final Feasibility Study of the Buckreef Project.

The company has shipped fresh core from three metallurgical test holes drilled last year to the SGS Lakefield site to confirm a conceptual flow-sheet that includes either Gravity Separation with Gravity Tailing Cyanidation, or Gravity Separation, followed by sulphide Flotation of the gravity tailing, with regrinding and cyanide leaching of reground sulphide concentrate along with possible leaching of flotation tailing. These flowsheets constitute low cost and attractive alternatives for the Buckreef Project. The current round of testing is expected to take approximately five to six months, following which some additional sampling and variability testing may be required that would arise from the design of a new open pit which will be initiated shortly. Mr. James MacDonald, Senior Metallurgist from SGS has reviewed historical reports and recommends the flowsheet testing options based on that historical review.

On March 17, 2019 the Company announced a doubling of Mineral Resource. In view of this robust increase, the Company has proposed a preliminary design criteria for the sulphide plant to treat up to 3.0 million tonnes per year, which is approximately three times more than the amount processed by the plant that was the basis of the 43-101 Pre-Feasibility Study of June 26, 2018. The Company believes that the new sulphide processing plant could produce in the range of 150,000 to 175,000 ounces of gold per year.

States Mr. James E. Sinclair, Executive Chairman of the Company “Today’s announcement that one of the world’s premier metallurgical facilities will be confirming a new flow sheet is a direct result of our prior announcement that the Company has more than doubled its Mineral

Resources.” Mr. Sinclair goes on to state that “with the addition of the new sulphide plant, the Buckreef Project could have two ore treatment plants producing at the same time.”

Respectfully Submitted, “James E. Sinclair”

James E. Sinclair Executive Chairman

 

Tanzanian Gold announces SGS-Lakefield metallurgical testing

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