Tanzanian Gold Corporation and its joint venture partner, The State Mining Company (STAMICO), announces that it has received initial and highly favourable metallurgical test results from the sulphide component of the Buckreef Gold Mine (Buckreef) mineral resource.
SGS Canada Inc. (SGS) was retained to complete initial metallurgical test work at their Lakefield facility on the sulphide component of the mineral resource. SGS flowsheets will be a cornerstone of the feasibility study and help prove the viability of the project to financiers and stakeholders as Buckreef progresses towards full operation. SGS has reviewed the information in the press release.
The initial metallurgical test work is now concluding. SGS has now been commissioned to undertake the metallurgical variability phase for Buckreef.
Highlights
Mr. Stephen Mullowney, CEO (TanGold) commented, “the initial metallurgical results from a reputable and prestigious organization (SGS Lakefield) have indicated that a well-known and simple flowsheet for our large high-grade deposit and plant is most likely. The initial recoveries are excellent, and I look forward with confidence to the results of the variability testing.”
Mr. Andrew Cheatle, COO (TanGold) added, “the initial metallurgical recovery results are excellent and typical of Archean shear zone type hosted gold deposits. These results also firmly underscore our overall plan to have two plants with two different flowsheets; one plant to treat gold bearing oxides and a second plant to treat gold bearing sulphide or primary materials. We look forward to continuing to work with SGS on the metallurgical study.”
Further Details of Test Work
In 2020, three diamond drill holes were completed for the purposes of initial, modern era metallurgical test work. Diamond drill hole details are tabulated below:
The samples were extracted as fresh drill core samples from areas/zones with known lithologies from within the current projects open pit limit. The samples were selected by TanGold and confirmed by the SGS geological services group that worked together doing the metallurgical sample selection. The investigation included ore characterization, comminution, mineralogy, head analyses, and potential for gold preg robbing, and evaluated the amenability of the three samples to two primary processing flowsheet options, that incorporate comminution (crushing and grinding), gravity separation, flotation and cyanidation unit operations. A high-level summary of the test work is provided below:
About Tanzanian Gold Corporation
Tanzanian Gold Corporation along with its joint venture partner, STAMICO is building a significant gold project at Buckreef in Tanzania that is based on an expanded Mineral Resource base and the treatment of its mineable Mineral Reserves in two standalone plants. Measured Mineral Resource now stands at 19.98MT at 1.99g/t gold containing 1,281,161 ounces of gold and Indicated Mineral Resource now stand at 15.89MT at 1.48g/t gold containing 755,119 ounces of gold for a combined tonnage of 35.88MT at 1.77g/t gold containing 2,036,280 ounces of gold. The Buckreef Project also contains an Inferred Mineral Resource of 17.8MT at 1.11g/t gold for contained gold of 635,540 ounces of gold. The Company is actively investigating and assessing multiple exploration targets on its property. Please refer to the Company’s Updated Mineral Resources Estimate for Buckreef Gold Project, dated May 15, 2020, for more information.
Tanzanian Gold Corporation is advancing on three value-creation tracks:
Andrew M. Cheatle, P.Geo. is the Company’s Qualified Person as defined by the NI 43-101 who has verified the data disclosed in this news release and has otherwise reviewed and assumes responsibility for the technical content of this press release.
About SGS
SGS is the world’s leading inspection, verification, testing and certification company. They are recognized as the global benchmark for quality and integrity. With more than 89,000 employees, SGS operates a network of more than 2,600 offices and laboratories around the world. Bankable flowsheets help prove the viability of a gold mining project to financers and stakeholders. SGS has, in this regard, earned a global reputation as a proven leader in the development of transparent, bankable flowsheets for a wide range of mineral and metal extraction operations.
For further information, please contact Michael Martin, Investor Relations, m.martin@tangoldcorp.com, 860-248-0999, or visit the Company website at www.tangoldcorp.com