Tanzanian Gold Corporation to Participate in Fireside Chat with Alliance Global Partners on Thursday, May 13th, 2021 at 10am ...
May 12 2021 - 5:50PM
Tanzanian Gold Corporation (NYSE American: TRX) (TSX:TNX) (TanGold
or the Company), operating through its wholly owned subsidiary in
Tanzania (Tanzam2000), and its joint venture partner, The State
Mining Company (STAMICO), is developing the Buckreef Gold Project
in Tanzania, moving forward with expanding production, advanced
development and accelerating exploration. TanGold is pleased to
announce today that senior management is scheduled to participate
in a virtual fireside chat hosted by Alliance Global Partners’
Managing Director and Head of Metals and Mining Research, Jake
Sekelsky, on Thursday, May 13, 2021 at 10:00 am EDT.
To register for the free live broadcast of the
virtual event visit:
https://us02web.zoom.us/webinar/register/WN_DNCNeokVSM2_vjt81hADUw
Requests to watch a replay can be made by
emailing agpevents@allianceg.com.
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:
- Strengthening its balance sheet by
expanding near-term production to 15,000 - 20,000 oz. of gold per
year from the processing of oxide material from 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.
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
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
The Toronto Stock Exchange and NYSE American
have not reviewed and do not accept responsibility for the adequacy
or accuracy of this release.
U.S. Investors are urged to consider closely the
disclosure in our SEC filings. You can review and obtain copies of
these filings from the SEC's website at
http://www.sec.gov/edgar.shtml
Forward-Looking StatementsThis
press release contains certain forward-looking statements as
defined in the applicable securities laws. All statements, other
than statements of historical facts, are forward-looking
statements. Forward-looking statements are frequently, but not
always, identified by words such as “expects”, “anticipates”,
“believes”, “hopes”, “intends”, “estimated”, “potential”,
“possible” and similar expressions, or statements that events,
conditions or results “will”, “may”, “could” or “should” occur or
be achieved. Forward-looking statements relate to future events or
future performance and reflect Tanzanian Gold management’s
expectations or beliefs regarding future events and include, but
are not limited to, statements with respect to the estimation of
mineral reserves and resources, recoveries, subsequent project
testing, success and viability of mining operations, the timing and
amount of estimated future production, and capital expenditure.
Although TanGold believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance. The actual achievements of TanGold or other
future events or conditions may differ materially from those
reflected in the forward-looking statements due to a variety of
risks, uncertainties and other factors. These risks, uncertainties
and factors include general business, legal, economic, competitive,
political, regulatory and social uncertainties; actual results of
exploration activities and economic evaluations; fluctuations in
currency exchange rates; changes in costs; future prices of gold
and other minerals; mining method, production profile and mine
plan; delays in exploration, development and construction
activities; changes in government legislation and regulation; the
ability to obtain financing on acceptable terms and in a timely
manner or at all; contests over title to properties; employee
relations and shortages of skilled personnel and contractors; the
speculative nature of, and the risks involved in, the exploration,
development and mining business. These risks are set forth under
Item 3.D in Tanzanian Gold’s Form 20-F for the year ended August
31, 2020, as amended, as filed with the SEC.
The information contained in this press release
is as of the date of the press release and TanGold assumes not duty
to update such information.
Note to U.S. Investors
US investors are advised that the mineral
resource and mineral reserve estimated disclosed in this press
release have been calculated pursuant to Canadian standards which
use terminology consistent with the requirements CRIRSCO reporting
standards. For its fiscal year ending August 31, 2021, and
thereafter, the Company will follow new SEC regulations which uses
a CRIRSCO based templet for mineral resources and mineral reserves,
that includes definitions for inferred, indicated, and measured
mineral resources.
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