Tanzanian Gold is developing its world-class Buckreef asset beside some key assets run by large gold miners
Tanzanian Gold's neighbors are Barrick Gold, AngloGold Ashanti
Tanzanian Gold (TSE:TNX) is developing its world-class Buckreef asset beside some key assets run by large gold miners.
CEO and director Stephen Mullowney spoke to Kitco on Tuesday, July 27.
The Buckreef project is within 20 kilometers of several important mines: notably Barrick Gold's Bulyanhulu Mine and AngloGold Ashanti Geita Mine, with a combined production nearing 3/4 of a million ounces of gold annually.
Tanzanian Gold has 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 modeled 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