TanGold Makes New Discovery In Tanzania

Near Surface Buckreef West Gold Zone Open at Depth And To The South

Tanzanian Gold Corporation (TSX:TNX) has had near surface drilling success from its exploration program targeting the newly delineated Buckreef West Shear Zone (Buckreef West) – a splay off the well mineralized Buckreef Main Zone in Tanzania.

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

Highlights Include:

Select intercepts include:

o Hole BWDD017 intersected 4.57m @ 6.4 g/t Au from 44.9m

o 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;

o Hole BWDD012 intersected 5.57m @ 4.95 g/t Au from 98.4m and 4.0m @ 2.19 g/t Au from 92.0m;

o Hole BWDD013, on the same line as Hole BWDD012 intersected 1.5m @ 2.2 g/t Au from 59.5m;

o BWDD0018 intersected 7.0m @ 2.03 g/t Au from 44.0m and 3.85m @ 2.86 g/t from 56.0m; and

o BWDD0031 intersected 2.5m @ 7.29 g/t Au from 46.1m.

“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,” CEO Stephen Mullowney, said.

“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.”

During 2020 and into early 2021 the company identified and pursued drilling at Buckreef West. The goal of the programme was to define additional oxide mineral resources and define a new mineralised shear zone. During the past two quarters, a total of 2,903m from 31 drillholes have been drilled at Buckreef West to conclude the current phase.

The drilling has consistently intersected a well pronounced sheared meta-basalt, with variable sulphide mineralisation, and mild to strong quartz-carbonate-sericite-pyrite alteration typical of the Buckreef Main Zone.

The company will continue to evaluate the drill results and geology and prioritise the most prospective areas for infill drilling, with the explicit aim of upgrading the target to indicated mineral resource and ultimately into the mine plan.

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