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TanGold Introduces New Discovery – Buckreef West Gold Zone Near Surface – Open at Depth & to the South

May 03, 2021

TORONTO – May 3rd, 2021 (GLOBE NEWSWIRE) – Tanzanian Gold Corporation (TSX:TNX) (NYSE American:TRX) (TanGold or the Company) operating through its wholly owned subsidiary in Tanzania (Tanzam2000), and its joint venture partner, The State Mining Company (STAMICO), is pleased to expand on TanGold’s recent MD&A filings and formally announce detailed results from its exploration program targeting the newly delineated Buckreef West Shear Zone (Buckreef West) – a splay off the well mineralized Buckreef Main Zone.

The results summarized from Buckreef West, which lies in close proximity to the Buckreef Main Zone, define a near vertical shear zone, over a strike length of 400 meters (m), with interpreted gold mineralization shallowly plunging to the northeast. The mineralized zone remains open to the south and at depth.

Highlights Include:

  • Shallow Depth: All reported intercepts are at shallow depth on a well-defined structure which is interpreted as a splay off the Buckreef Main Zone.
  • Open at Depth and Along Strike: Over 400m of strike length has been drilled to date and the deposit remains open at depth and along strike in both directions.
  • Select Intercepts:
    •  Hole BWDD017 intersected 4.57m @ 6.4 g/t Au from 44.9m
    •  Hole BWDD015, on the same line as Hole BWDD017, had two intersections: (i) 2.18m @ 1.24 g/t Au from 86.9m and (ii) 2.49m @1.3 g/t Au from 105.1m;
    • Hole BWDD012 intersected 5.57m @ 4.95 g/t Au from 98.4m and 4.0m @ 2.19 g/t Au from 92.0m;
    •  Hole BWDD013, on the same line as Hole BWDD012 intersected 1.5m @ 2.2 g/t Au from 59.5m;
    •  BWDD0018 intersected 7.0m @ 2.03 g/t Au from 44.0m and 3.85m @ 2.86 g/t from 56.0m; and
    •  BWDD0031 intersected 2.5m @ 7.29 g/t Au from 46.1m

Mr. Stephen M. Mullowney, CEO (TanGold) commented, “Wow, we are ecstatic with these near surface exploration results as they have confirmed a new discovery at Buckreef!  We will continue with exploration and seek expansion of both the oxide and sulphide potential down-dip and along strike at Buckreef West.  On the exploration front, the Company continues to evaluate the widespread gold potential across the entire Buckreef property and is currently evaluating multiple additional targets while developing an exploration triangle for the property.”

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