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Tanzanian Royalty Exploration Corp. Message Board

  • warriormasai warriormasai Aug 23, 2011 11:48 AM Flag

    Drilling Underway at Buckreef

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    • "Any potential expansion of the existing Buckreef resource along established geological trends would enable us to optimize production rates with a subsequent improvement in operating costs," Mr Sinclair said.

    • "The statement further noted that a contractor has been engaged to drill 58 holes totaling 7,000 metres with an objective of probing and corroborating significant gold mineralization in the area not reported by Iamgold Corporation a decade ago."

    • nice thread...Thanks for posting this.

    • Tanzania Daily News (Dar es Salaam)

      Tanzania: Drilling Starts At Joint Stamico, Trec Buckreef Project in Mwanza
      22 August 2011

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      DRILLING has commenced at a Bauckreef project in Mwanza in which the State Mining Corporation entered into joint venture with Tanzanian Royalty Exploration Corporation earlier this year to implement.

      In a statement on Monday, TREC Chairman and Chief Operating Officer, Joseph Kahama said exploration for gold has reached an advanced stage while drilling for diamond is also under way.

      Mr Kahama said in the statement that the Buckreef project has an estimated measured, 5.176 million tonnes grading 2.05 grams per ton with an indicated 24.97 million tonnes averaging 1.19 grams per ton and an inferred, 17.173 million tons grading 1.51 grams per ton.

      Quoting the company's President and Chief Executive Officer, James Sinclair, the statement said the project will help improve earnings.

      "Any potential expansion of the existing Buckreef resource along established geological trends would enable us to optimize production rates with a subsequent improvement in operating costs," Mr Sinclair said.

      The statement further noted that a contractor has been engaged to drill 58 holes totaling 7,000 metres with an objective of probing and corroborating significant gold mineralization in the area not reported by Iamgold Corporation a decade ago.

      "The second phase of this drilling program will include both infill and step-out strike extension exploration drilling targeting the eastern extension of the near surface mineralization at the Tembo prospect and the north-east extension of the main Buckreef prospect," the statement added.

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      In addition, an infill diamond drilling program consisting of 6000 metres of initial 12 diamond drillholes is planned for the first week of next September 2011 to investigate the down-dip extension of the high grade shoots below the previously projected economic final depth of the pit design by Iamgold, the statement added.

      If warranted by the results of the drilling program, the statement said the Canadian based company intends to prepare a revised mineral resource estimate for the Buckreef gold project in accordance with the requirements of regulations.

      "In addition to the resource and exploration drilling program, 360 metres of metallurgical drilling are planned at Bingwa and Tembo to collect samples for additional metallurgical test-work and bulk density determination," Kahama's said in the statement.

 
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