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Buckreef Main Metallurgy samples

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TORONTO, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Tanzanian Gold Corporation (TSX:TNX) (NYSE American:TRX) (TanGold or the Company) (operating through its wholly endemic accessory in Tanzania) and its collective adventure partner, The State Mining Aggregation (STAMICO), announces that it has accustomed antecedent and awful favourable metallurgical analysis after-effects from the sulphide basic of the Buckreef Gold Abundance (Buckreef) mineral resource.

SGS Canada Inc. (SGS) was retained to complete antecedent metallurgical analysis assignment at their Lakefield adeptness on the sulphide basic of the mineral resource. SGS flowsheets will be a cornerstone of the achievability abstraction and advice prove the activity of the activity to financiers and stakeholders as Buckreef progresses appear abounding operation. SGS has brash the advice in the columnist release.

The antecedent metallurgical analysis assignment is now concluding. SGS has now been commissioned to undertake the metallurgical airheadedness appearance for Buckreef.

Highlights

Three design assignment bulk samples were taken from the beginning bedrock (‘sulphide’ mineral resource) of the Buckreef drop for the purposes of metallurgical analysis work. The afterward intercepts and gold accretion ante were empiric (see bulk on the consecutive page):

MC01: 0.54 g/t over 78.88m – 94.1%

MC02: 19.4 g/t over 27.99m – 95.4%

MC03: 1.71 g/t over 52.53m – 85.3%

SGS acquire brash that a flowsheet consisting of crush/grind and abutment followed by regrinding of the rougher apply and cyanidation at site, alternating with cyanidation of the abutment tailing is currently the metallurgically optimal comminute circuit. Dore will be produced at site.

Test assignment is advancing on the MC03 sample, for the purpose of convalescent the gold accretion rate. The aforementioned analysis assignment can be activated to the MC01 and MC02 samples.

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SGS acquire now been commissioned to complete achievability akin metallurgical testing that will focus on the aboriginal 5-7 years of assembly at Buckreef.

Mr. Stephen Mullowney, CEO (TanGold) commented, “the antecedent metallurgical after-effects from a acclaimed and celebrated alignment (SGS Lakefield) acquire adumbrated that a acclaimed and simple flowsheet for our ample high-grade drop and bulb is best likely. The antecedent recoveries are excellent, and I attending advanced with aplomb to the after-effects of the airheadedness testing."

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Mr. Andrew Cheatle, COO (TanGold) added, “the antecedent metallurgical accretion after-effects are accomplished and archetypal of Archean microburst area blazon hosted gold deposits. These after-effects additionally durably accentuate our all-embracing plan to acquire two plants with two altered flowsheets; one bulb to amusement gold address oxides and a added bulb to amusement gold address sulphide or primary materials. We attending advanced to continuing to assignment with SGS on the metallurgical study.”

Further Capacity of Analysis Work

In 2020, three design assignment holes were completed for the purposes of initial, avant-garde era metallurgical analysis work. Design assignment aperture capacity are archival below:

The Buckreef Main Metallurgy samples table can be begin at https://www.globenewswire.com/NewsRoom/AttachmentNg/a11a04ab-4961-43a1-a73b-0ec3d0d17727

The samples were extracted as beginning assignment bulk samples from areas/zones with accepted lithologies from aural the accepted projects accessible pit limit. The samples were called by TanGold and accepted by the SGS geological casework accumulation that formed calm accomplishing the metallurgical sample selection. The analysis included ore characterization, comminution, mineralogy, arch analyses, and abeyant for gold preg robbing, and evaluated the acquiescence of the three samples to two primary processing flowsheet options, that absorb comminution (crushing and grinding), force separation, abutment and cyanidation assemblage operations. A high-level arbitrary of the analysis assignment is provided below:

Bond brawl comminute assignment basis ethics were 18.3 and 18.5 in MC01 and MC02 respectively. MC03 was hardly softer at 17.1. The blind bank (HW) atone was at 17.1 and the bottom bank (FW) was 18. All of these comminution samples are classified as “Hard” back compared to the SGS comminution database. All of these samples are somewhat softer than the ethics adumbrated for Buckreef ore as apparent in the absolute documentation.

Gravity break testwork completed to date by SGS has adumbrated poor gold recoveries, averaging aloof beneath 5%. This seems to battle somewhat with break in the absolute testwork annal which adumbrated abeyant gold recoveries of >30%.

Direct cyanide leaching of the force break tailing adumbrated that composites MC01 and MC02 yielded ~80% gold abstraction at a bullwork admeasurement of ~150 μm (P80). The softer material, MC03, yielded 72% gold abstraction at the aforementioned almost bullwork size. Cutting decidedly finer, to ~75 μm (P80), resulted in 8-9% added gold abstraction (to 88-89%) from MC01 and MC02 material. MC03 gold abstraction added to 79% with the aforementioned abridgement in bleed augment size. Tests were run over 48 hours and gold abstraction had more-or-less accomplished afterwards 24 hours, with alone accessory added gold abstraction up to 48 hours assimilation time.

Rougher abutment tests were conducted on force tailing at bullwork admeasurement P80’s of ~150, ~120 and ~90 μm. Mass pulls of ~13-20% were observed. Sulphide accretion was absolute abiding (97-98%) and showed no appulse from coarser/finer grinding. Gold recoveries bigger alone slightly, in MC01 and MC02 tests, with bigger grinding, from ~87-90%. MC03 gold accretion remained rather abiding at ~90% beyond the augment admeasurement analysis series.

About Tanzanian Gold Corporation

Tanzanian Gold Corporation alternating with its collective adventure partner, STAMICO is architecture a cogent gold activity at Buckreef in Tanzania that is based on an broadcast Mineral Adeptness abject and the analysis of its mineable Mineral Affluence in two standalone plants. Abstinent Mineral Adeptness now stands at 19.98MT at 1.99g/t gold absolute 1,281,161 ounces of gold and Adumbrated Mineral Adeptness now angle at 15.89MT at 1.48g/t gold absolute 755,119 ounces of gold for a accumulated burden of 35.88MT at 1.77g/t gold absolute 2,036,280 ounces of gold. The Buckreef Activity additionally contains an Accepted Mineral Adeptness of 17.8MT at 1.11g/t gold for independent gold of 635,540 ounces of gold. The Aggregation is actively investigating and assessing assorted analysis targets on its property. Amuse accredit to the Company’s Updated Mineral Assets Estimate for Buckreef Gold Project, anachronous May 15, 2020, for added information.

Tanzanian Gold Corporation is advancing on three value-creation tracks:

Strengthening its antithesis area by accretion near-term assembly to 15,000 - 20,000 oz. of gold per year from the processing of oxide absolute from an broadcast oxide plant.

Advancing the Final Achievability Abstraction for a stand-alone sulphide alleviative bulb that is essentially beyond than ahead modelled and targeting cogent anniversary gold production.

Continuing with a conduct affairs to added analysis the abeyant of its property, Analysis Targets and Mineral Adeptness abject by: (i) anecdotic new prospects; (ii) conduct new oxide/sulphide targets; (iii) infill conduct to advancement Mineral Assets currently in the Accepted category; and (iv) a step-out conduct affairs in the Northeast Extension.

Andrew M. Cheatle, P.Geo. is the Company’s Qualified Person as authentic by the NI 43-101 who has absolute the abstracts appear in this account absolution and has contrarily brash and assumes albatross for the abstruse agreeable of this columnist release.

About SGS

SGS is the world’s arch inspection, verification, testing and acceptance company. They are accustomed as the all-around criterion for affection and integrity. With added than 89,000 employees, SGS operates a arrangement of added than 2,600 offices and laboratories about the world. Bankable flowsheets advice prove the activity of a gold mining activity to financers and stakeholders. SGS has, in this regard, becoming a all-around acceptability as a accurate baton in the development of transparent, bankable flowsheets for a advanced ambit of mineral and metal abstraction operations.

For added information, amuse acquaintance Michael Martin, Investor Relations, m.martin@tangoldcorp.com, 860-248-0999, or appointment the Aggregation website at www.tangoldcorp.com

The Toronto Stock Barter and NYSE American acquire not brash and do not acquire albatross for the capability or accurateness of this release.

U.S. Investors are apprenticed to accede carefully the acknowledgment in our SEC filings. You can analysis and access copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml

Forward-Looking StatementsThis columnist absolution contains assertive advanced statements as authentic in the applicative balance laws. All statements, added than statements of absolute facts, are advanced statements. Advanced statements are frequently, but not always, articular by words such as “expects”, “anticipates”, “believes”, “hopes”, “intends”, “estimated”, “potential”, “possible” and agnate expressions, or statements that events, altitude or after-effects “will”, “may”, “could” or “should” action or be achieved. Advanced statements chronicle to approaching contest or approaching achievement and reflect Tanzanian Gold management’s expectations or behavior apropos approaching contest and include, but are not bound to, statements with account to the admiration of mineral affluence and resources, recoveries, consecutive activity testing, success and activity of mining operations, the timing and bulk of estimated approaching production, and basic expenditure.

Although TanGold believes the expectations bidding in such advanced statements are based on reasonable assumptions, such statements are not guarantees of approaching performance. The absolute achievements of TanGold or added approaching contest or altitude may alter materially from those reflected in the advanced statements due to a array of risks, uncertainties and added factors. These risks, uncertainties and factors accommodate accepted business, legal, economic, competitive, political, authoritative and amusing uncertainties; absolute after-effects of analysis activities and bread-and-butter evaluations; fluctuations in bill barter rates; changes in costs; approaching prices of gold and added minerals; mining method, assembly contour and abundance plan; delays in exploration, development and architecture activities; changes in government legislation and regulation; the adeptness to access costs on adequate agreement and in a appropriate address or at all; contests over appellation to properties; agent relations and shortages of accomplished cadre and contractors; the abstract attributes of, and the risks complex in, the exploration, development and mining business. These risks are set alternating beneath Item 3.D in Tanzanian Gold’s Form 20-F for the year concluded August 31, 2020, as amended, as filed with the SEC.

The advice independent in this columnist absolution is as of the date of the columnist absolution and TanGold assumes not assignment to amend such information.

Note to U.S. Investors

US investors are brash that the mineral adeptness and mineral assets estimated appear in this columnist absolution acquire been affected pursuant to Canadian standards which use analogue constant with the requirements CRIRSCO advertisement standards. For its budgetary year catastrophe August 31, 2021, and thereafter, the Aggregation will chase new SEC regulations which uses a CRIRSCO based arrangement for mineral assets and mineral reserves, that includes definitions for inferred, indicated, and abstinent mineral resources.

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