Press Release: Tanzanian Royalty – 2 hours 4 minutes ago
SOUTH SURREY, British Columbia--(BUSINESS WIRE)-- Tanzanian Royalty wishes to report that it has received impressive assay results from the ongoing diamond and reverse circulation (RC) drilling programs on the Eastern Porphyry Prospect at its Buckreef Gold Project in the Lake Victoria goldfields of Tanzania. The drilling programs commenced in September 2011.
According to Joseph K. Kahama, Chairman and Chief Operating Officer, “The drill program has served to verify the significance of the results obtained by previous operators including IAMGOLD which were not in the public domain but were discovered during our Buckreef data review process.”
“The latest drill results not only support and enhance the earlier drill programs, they confirm the existence of a fifth gold zone at Buckreef along with the potential to enhance our production expectations for this development stage gold project.”
Highlights from the recent drill program are included in the following table:
WOW...On the message board it says "42 replies" however when I click on the thread there are only 14 replies excluding this one...There must be a bunch of replies by those I've put on my ignore list!
All the drill program has served to verify is the never ending drilling that helps delay actually producing anything. Hey, Kahama, instead of peppering a PR with rosy exaggerated adjectives that don't amount to squat in the final analysis until there's some objective analyisis, maybe load up on TRX shares instead, gasbag. See, this drilling drama has been sooooooooooooooo played with zero production to date.
Pretty much reamed out the equity market, now the shareholders will get DP'd with debt.
Tanzanian Royalty is well financed and has approximately $30 million in cash. This will allow for the completion of a full feasibility study, leaving excess capital available for the time the Company begins debt financing negotiations with international lenders for mine development.