Emerging Gold Producer with Substantial Growth Potential
NYSE: TRX | TSX: TNX
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 and Indicated Mineral Resources now stand at 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 635,540oz. The Company is actively investigating and assessing multiple exploration targets on its property.
Tanzanian Gold is advancing on three value-creation tracks:
- Strengthening its balance sheet from expanding near-term production to 15,000 – 20,000 oz. of gold per year from the processing of oxide material at an expanded oxide plant.
- Advancing the Final Feasibility Study for a stand-alone sulphide treating plant that is substantially larger than previously modelled and targeting significant annual gold production.
- Continuing with a drilling program to further test the potential of its property, exploration targets and mineral resource base by: (i) identifying new prospects; (ii) drilling new oxide/sulphide targets; (iii) infill drilling to upgrade Mineral Resources currently in the Inferred category; and (iv) a step-out drilling program in the Northeast Extension.
Proven Mining Belt:
- World-class assets located in Lake Victoria Greenstone Belt
- Adjacent to Anglogold Ashanti’s Geita mine and Barrick’s Bulyanhulu mine (which has recently restarted operations)
High Grade Open Pit Resource:
- M&I mineral resource of 35.88Mt @ 1.77 g/t for 2.04 Moz Au
- Ongoing drilling to expand and upgrade mineral resource
- Buckreef Main Zone open in all directions
- New discovery in Buckreef West Zone
- Exploration “triangle” being developed
- Special Mining License in place; No major permits required to start production
- 45% Tanzanian Government interest held through STAMICO
- Strong relationships with government and local communities
- Partnership with reputable consultants
- Executive highly experienced in ESG, with credible track record
- Senior team has significant proven global mining leadership
- On-site managers and executives have significant experience in Africa
- Attractive on P/NAV and EV/Resource
- De-risking Buckreef project through oxide test plant
- Expanding oxide gold production targeting 15-20k ozs/year
- Feasibility Study of sulphides underway