Tajiri Resources Corp. (TSXV: TAJ) is pleased to announce results of the relogging of historic shallow scout drill holes and the release of previously un-reported drill intersections from the K5NW prospect, Reo Project, Burkina Faso (Figure 1). Relogging of historic drill holes utilizing multielement XRF data to discriminate lithologies, combined with visual logging has revealed a high-grade zone of shallow, folded, mostly sub-horizontal gold mineralization situated at the contact of a graphitic shale unit that is at least 200m wide and open in all directions (Figure 2).

Better historic shallow intersections (never previously reported) include:

• 4m @ 12.2g/t Au
• 2m @ 8.0g/t Au
• 3m @ 4.5g/t
• 13m @ 3.0g/t
  • including 4m @ 8.2g/t Au
• 24m @ 1.4g/t Au
  • including 8m @ 3.2 g/t Au

Presently true widths of mineralization are unknown, and a table of drill intercepts is given in the Appendix.

Features of the drilled mineralized zone are:

• Gold mineralization, which has been intersected between 40 to 80 metres below surface, is associated with the contacts of a folded graphitic shale unit within coarser grained dacitic volcaniclastics and volcanogenic sediments (Figure 2);
• Gold mineralization is folded in concert with the contacts of the graphitic shale;
• Both upper and lower contacts of the graphitic shale appear to be mineralized, but the lower contact because of its greater depth is largely untested by drilling; [1]
• In the area where drilling encountered better grades the disposition of the graphitic shale is largely sub-horizontal but becomes sub-vertical on its southern flank where MRRB0412 intersected 4m @ 12.2g/t Au was intersected on the “lower” contact of the graphitic shale unit.
• Depth extensions of this 4m @ 12.2g/t Au intersection are untested by present drilling (Figure 3);
• A fold nose, inferred to be located between the near vertically dipping graphitic shale fold limb in the south and the sub-horizontal limb in the north has not been intersected by drilling but presents a prime structural target (Figure 3);
• The unidirectional drill orientation (all holes drilled north), makes for an inadequate test for folded mineralization which is expected to be of varied orientation and north of hole MRRB1625 is north dipping (Figure 3);
• Width of the zone is at least 200m and it remains open to the north (Figure 3);
• Up and down plunge extensions to mineralization remain completely open but artisanal workings and saprolite auger gold anomalism are suggestive that the zone may be of large size (Figures 4 & 5);
• The mineralized zone lies at the south-west corner of large (450 x 260m) area of surface artisanal workings and is thus likely the shallow down plunge extension of what was mined at surface (Figure 4 & 5). Thus, the zone presents potentially favourable geometry for the definition of significant volumes of near-surface oxide gold mineralization;
• The western edge of the artisanal workings where they are most intense appears to follow a folded magnetic contact (Figure 4 & 5) ;
• Mineralization is not associated with significant quartz veining, but with the variable development of silicification and sericite, sulphide, epidote, chorite and carbonate alteration and an enrichment of up to ~ 1,000ppm zinc and 30ppm silver[2] ;
• Six and four hundred metres distal to the high-grade zone, scout drilling also intersected broad lower grade mineralization (e.g. 24m @ 1.43g/t) at the contacts of graphitic sediments (Figures 4,5 & 8);
• Of these wider lower grade intersections, one zone, the closest (~ 400m away), appears to be hosted by a graphitic sediment in a similar stratigraphic position to the high-grade zone and the other, 600m to the northeast appears to be hosted by a different graphitic unit: interpreted to be interflow sediments within andesites and andesitic volcaniclastics (Figure 8).
• Given the occurrence of drilled gold mineralization associated with potentially two different graphitic units, located 400 & 600m there is clear potential for K4NW to be a deposit of considerable scale that to date has only seen very wide spaced drill testing.
• The entire ~ 4km strike length of the K5 prospect is poorly tested by existing scout drilling (Figure 7) where drilling has been either on lines parallel to the NW gross strike of the prospect or on NS lines with interline spacing 300-1,000m and in places spacing between drill collars on lines of ~ 100m.

Significance of the results

The results reported today are of great significance to the interpretation of the larger K4-5 prospect where the Company believes all evidence points to K4-5 being a giant (11km x 7.5km geochemical footprint) poly-folded gold system.  The results reported today lend great weight to that interpretation with gold mineralization appearing to be folded and early stage in style:

• It is disseminated and no quartz veining is associated with the K5NW gold mineralization;
• There is no association with long strike length, through-going shear zones, only with contacts that are folded and potentially locally sheared;
• Mineralization at K5NW is contact related and hosted by a similar stratigraphy to the nearby zinc-silver dominated Perkoa VMS deposit (syn-depositional mineralization). The weak zinc and silver enrichment that accompanies gold mineralization at K5NW is suggestive that K4NW is both early stage and is at a similar stratigraphic position to Perkoa.

As a consequence of gold mineralization being likely early stage, it explains why it would be folded by later deformation events.

These observations are highly significant for several reasons:

1. If the gold mineralization at K4NW and the larger K4-5 prospect is folded / fold controlled, then because exploration has been conducted on broad spaced unidirectional grids (searching for linear NE striking shear hosted mineralization) exploration to date has been completely inadequate to properly explore K4-5 or to even locally test extensions to mineralization where it has been found;
2. Poly- folded gold systems, tend to have large to giant gold endowments (>10Moz).  They tend to host both extensive anomalous to lower grade gold mineralization emplaced at an early-stage of their history and later mineralization, remobilized from earlier gold, into small footprint, fold controlled/ fold related high grade shoots.  Global examples are Homestake > 40Moz & Telfer ~ > 30moz and within the Birimian of West Africa the 13Moz Wassa Gold Deposit.
3. A near universal feature of the poly-folded gold deposit style is that most of the gold endowment is hosted within the smaller footprint, fold controlled, higher-grade shoots.  These shoots typically have small areal dimensions but long plunges e.g. the 20Moz Main Ledge at Homestake- hosted in the nose of a syncline which has a surface footprint of 600 x 20-40m and a plunge extent of   >2,500m.  Similarly, at Wassa the B & F shoots, which collectively host ~ 8.55 Moz of gold, are located within early and parasitic folds, within the south limb of a larger fold.  B & F shoots have a discontinuous surface expression of ~ 800m x 10-20m but a down plunge extent of at least 2,100m (Figure 9).

Given the above, all known gold mineralization at K4-5 is poorly tested to date though the scale of the system at 11 x 7.5km appears very large (Figure 1). Late folding appears to be around NW to NNW striking fold axes which orientation is near parallel to auger and early drill orientations.

Further, given the typically small footprint of the high-grade shoots, which host most of the gold in poly-folded gold deposits, sampling at K4-5 being broad and poorly oriented could have easily missed such high grade shoots.

Nevertheless, as documented today and in the Company’s past press releases (October 26, 2022;  March 7 & April 18, 2023), enough work has been conducted to locate three areas with high potential to host shoots of better gold mineralization:

• The main K4 North artisanal working- A 320 x 120m wide zone of deep artisanal shaft mining which has been ongoing for ~ 14 years, which has not yet been drill tested but where drilling outside of the working has returned numerous good shallow gold intercepts (e.g. 48m @ 1.4g/t incl 12m @ 4.1g/t; 4m @ 16.2g/t; 56m @ 1.3g/t incl 12m @ 5g/t);
• K4 South; where auger drilling to sample top of saprolite was conducted by the Company at close enough spacing (25 x 25m), to delineate continuous zones of potentially fold controlled mineralization. The auger defined mineralization at K4S underlies a large 800 x 500m artisanal working, where artisanal miners appear to have followed folded mineralization. At K4S the Company’s Auger sampling returned a peak value of 9.2g/t Au and multiple > 0.5g/t Au values from samples of the top metre of saprolite, while poorly oriented historic drilling returned ( 10m @ 3.5g/t; 3m @ 7.7g/t; 4m @ 8.5g/t & 36m @ 1.3g/t Au/.)
• K5NW as documented today.

Further work at K5NW

The orientation of mineralization at K5NW remains poorly constrained, which makes it difficult to immediately plan a large follow-up drill program.  Given the potential complexity of mineralization the company intends to undertake the following to better define mineralization in preparation for a major drilling campaign:

• Close spaced auger drilling on a 25 x 25m triangular grid i.e. isotropic and not prejudiced to test mineralization of only one particular strike;
• Trenching of the surface workings aligned E-W and N-S for sampling, mapping and structural measurements;
• Close spaced square gridded magnetic and VLF surveys (current magnetic survey is on 100m spaced north-south lines). The VLF survey has a high chance of detecting a strong response from the graphitic sediments and by conducting the survey on a square grid, with as many cross lines as survey lines, the survey should accurately define expected strike and dip changes of the host graphitic sediments;
• A limited < 2,000m of oriented diamond core drilling to gather structural data and to immediately test the following potential extensions to mineralization;
  • Depth extension of the 4m @ 12.2g/t Au drill intersection;
  • Test the lower contact of the graphitic shale;
  • Test for a potential continuation of the zone to the north and under the granitoid sill and test define the thickness of the sill.
  • Test the near up and down plunge extent of the zone to the northeast and southwest of the present drill section.

Technical details to accompany this press release are provided in the Appendix.

Executive Chairman Dominic O’Sullivan Commented:

“Tajiri is not just a one trick pony.  We are following a two prong strategy – near term we have a potentially very saleable asset- the recently acquired  Yono Property in Guyana, where recent grab sampling returned ~800 g/t from within a few hundred metres of the  7.9 Moz Oko and Oko West deposits and  where mining at Oko West is slated to commence in 2028. 

We further believe Yono, irrespective of any gold endowment it may or may not contain, will be a “must have piece of ground” as its’ boundary is located within 90m of the edge of the resource constraining Oko West pit shell and within 170m of the outcrop of the centrally located Ghanie deposit.  Furthermore, Yono controls the catchment area of one of two major streams in the area, which stream debouches immediately from Yono onto the central part of the Oko resource area.  To our minds control of Yono might just be necessary to implement surface water control of monsoonal high flow events across or into any open pit in the central part of the combined Oko and Oko West deposits.   

In Burkina, where exploration has unfortunately been at a hiatus, while we awaited permit renewals and an improved security and political situation to attract investment, K4-5 is shaping up to be a long-term exploration play of large to giant scale with potential to host multiple gold mineralized zones.     

Accordingly, we look forward to expeditiously commencing exploration at Yono and recommencing exploration in Burkina.”

Qualified Person

The Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects for this news release is Dominic O’Sullivan a geologist, member of the AusIMM, Executive Chairman of Tajiri and who has reviewed and approved its contents.

About Tajiri

Tajiri Resources Corp. is a junior gold exploration and development Company with exploration assets located in two of the worlds least explored and highly prospective greenstone belts of Burkina Faso, West Africa and Guyana, South America. Lead by a team of industry professionals with a combined 100 plus years’ experience the Company continues to generate shareholder value through exploration.

A Table of all drill intercepts reported today is given in the below table:

• MRRB prefix denotes a Middle Island RAB hole
• NAC – Newmont Aircore
• MRRC -Middle Island RC drill hole.

All Assay intervals calculated at a 0.2g/t cutoff and contain a maximum internal dilution of 2m @ < 0.2g/t for RC intervals and a maximum internal dilution of 4m

No top cap to intervals applied.

Relogging of drillholes and discrimination of lithologies from XRF data was conducted by utilizing major and trace elements abundances from XRF analyses. and their derived ratios, along with binary and ternary plots of the data.  Ratios and plots used were: Ti-Zr-Y;    Ti-Zr-Sr;   Ti-Zr;  Ti-V;  Ti-Cr;   Sr-V;    Fe-Ti;   These ratios enabled the division of lithologies into rhyolites, dacites, andesites and basalts  and the further discrimination of lithologies into MORB and IAB basalts and andesites.  In addition, use of V-Sr and Ti-Cr was utilized to further sub divided compositions into volcanic or sediments/ volcaniclastics.

XRF analyses were performed with a handheld Olympus DP6,000 on pulp rejects of assayed material.

The XRF method cannot determine intrusive from extrusive rocks, which requires visual logging of textures, and furthermore cannot detect carbon, so determination of graphitic sediments is based on visual logging only.   As a result of the XRF analysis it appears most of the compositionally dacitic lithologies at K5NW are either volcaniclastics or volcanogenic sediments, whereas the more mafic andesitic compositions may be either true volcanics or sediments derived from volcanics.

Gold mineralization is associated contacts of a Relogging has utilized XRF multielement discrimination of lithologies combined with visual logging.

In addition, the company has relogged and re-interpreted historic wide spaced scout drilling, by combining historic logging and a new lithological discriminate analysis based on XRF multielement data.  The new interpretation shows, inter alia, a zone of shallow, flat lying high-grade mineralization, located at the contracts of a folded graphitic shale.  The zone is situated on the southern margin of K5 and open in all directions (See Figures 6 & 7).  Anomalous auger values and artisanal workings along strike are suggestive of potential for significant of extensions to the drilled mineralization.  Better values from this zone include:

Of importance, the re-interpretation of drilling shows:

1. The style of gold mineralization at this part of K5 is contact related and is not associated with quartz veining but the variable
2. Mineralization is folded along with stratigraphy.
3. Gold mineralization is mostly situated in volcanoclastic (dacitic) sediments at their contact with the graphitic shale and extends into the graphitic shale.   Within the graphitic shale immediately below gold mineralization there is a weak enrichment in Zn (up to 1,000ppm).  This is significant as located 12km to the SW of K4-5 is the Zinc dominated Perkoa, volcanogenic massive sulphide “VMS” deposit.  VMS deposits are strata bound and the stratigraphy at Perkoa is similar to that drilled at K5  with graphitic shists in the structural hangingwall but stratigraphic footwall of mineralization which is hosted within volcanogenic (dacitic) sediments.  Based on these noted similarities to Perkoa it is a possibility that the K5 mineralization is syn volcanogenic / sedimentary.

The above is thus prima facie support for the Company’s contention that K4-5 is a poly folded deposit of potentially giant scale and that further due to the complex nature of folding previous sampling programs on unidirectional grids have inadequately tested potential.

Furthermore, the folded higher-grade mineralization is relatively flat lying and situated at shallow depths (~ 40-60m below surface).  The zone is located on the south-western tip of a large (420m X 260m) area of surface artisanal workings (Figure 6).  As such the zone is most likely the shallow down plunge extension of what was mined at surface, thus a favourable geometry and potential to define significant volumes of near-surface oxide gold mineralization is presented.

To Date drill testing of K5 is very limited (Figure 5) and sub-optimally oriented to test the prospect.  Early Aircore was drilled on NW-SE lines and is nearly parallel to strike and is thus a very poor test for mineralization.  Later RAB with limited follow-up by 5 RC drill holes was all drilled on N-S lines.  As such drill holes were oriented at ~ 30°- 45° to strike and is a sub optimal orientation.  Furthermore, all holes at K5 were drilled at 55° to the north.  As Shown in Figure 7 because mineralization is folded and its dip direction is expected to change across strike north directed drilling will likely to have missed north dipping mineralization