The Prospector News

Stamford Bridge Delivers Again – Another Best Drill Intercept New Stamford Bridge shear zone extended another 50 Meters

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Stamford Bridge Delivers Again – Another Best Drill Intercept New Stamford Bridge shear zone extended another 50 Meters

 

 

 

 

 

TRX Gold Corporation (TSX: TRX) (NYSE American: TRX) is excited to announce, once again, another best drill results ever, on a gram x tonne x meters basis with hole BMDD315 intersecting 37 metres @ 6.86 g/t Au (253.82 gtm) from 130 m. This drill hole result is approximately 250 m east of the Buckreef Main Zone—host to Buckreef Gold’s 2M+ ounce Au Mineral Resource1 and where current operations are ongoing in the Main Pit—and is located at the project’s newly discovered Stamford Bridge Shear Zone (see Figure 1).

This drill hole result comes following the Company’s previous drill results, dated October 24, whereby the Company announced the discovery of a promising new gold mineralization shear zone, named the Stamford Bridge Zone, at which results are revealing geological characteristics and mineral alterations similar to that at Buckreef’s Main Zone.

On the heels of this exciting new discovery, the Stamford Bridge shear zone has quickly become the Company’s exploration priority. An exploration program is underway to uncover the area’s true gold mineralisation potential. Over the next few weeks, the Buckreef Gold team will be preparing for the kick-off of a geophysical survey campaign, which will focus on the Stamford Bridge trend line, as well as an area covering up to 500 meters to both the North and South sides of the trend line. Following the results of this campaign, a strategic drill campaign will resume on newly defined, high-priority targets.

Significance of this latest drill intercept:

1. Hole BMDD315 intersected 37 m @ 6.86 g/t Au from 130 m; including 23 m @ 9.31 g/t Au from 139 m. This is the best drill hole result ever in the history of Buckreef Gold’s database, and is 50 meters further along the bridge than the last hole (see Figure 2);

2. This intercept continues to confirm a “bridge” or an interpreted mineralized shear zone trending 070 degrees (ENE) that is showing potential to extend to over 1 kilometer. To date, intersections reported over the last few weeks cover approximately 150 meters of strike length (See Figure 1);

3. The Stamford Bridge Zone is a potentially significant shear zone and geologically similar to the Buckreef Main Zone. It bridges the gap between the Buckreef Main Zone and the Eastern Porphyry deposit and Anfield Zone, to the Southeast (see Figure 1).

Isaac Bisansaba, Manager of Technical Services at Buckreef Gold, explains, “We are eager to begin the detailed ground geophysics work, as results should enable us to plan very strategic drill targets, and ultimately help us to define the direction and length of this new shear structure.”

Stephen Mullowney, TRX Gold CEO continues, “This is a very exciting blue-sky potential-type of drill result! We’ve confirmed this new shear structure to another 50 meters along strike. Although this is early in the drill campaign, results to date are very encouraging. The Buckreef Gold Project still has very good discovery potential built-in to its underexplored 16km2 land package and we intend to unlock that value and ultimately grow the Mineral Resource of the project beyond its current 2 million ounces”, commented Stephen Mullowney, TRX Gold Chief Executive Officer.

Figure 1. Buckreef Gold Property Showing Location of Latest Drill Hole BMDD315 Among Previous Results Along Stamford Bridge Zone

 

 

 

Figure 2. Cross-section results for new drill hole BMDD315 – Stamford Bridge Zone

 

Table 1: Summary of Results – Stamford Bridge

 

Qualified Person

Mr. William van Breugel, P.Eng, BASc (Hons), technical Advisor to TRX Gold Corporation, is the Company’s Qualified Person under National Instrument 43-101 “Standards of Disclosure for Mineral Projects” and has reviewed and assumes responsibility for the scientific and technical content in this press release.

Sample Protocol QA/QC

The sample chain of custody is managed by the Buckreef geology team on site. Reported results are from diamond drilled core samples. Intervals of core to be analyzed are split into half using a mechanized core cutter, with one half sent to the Laboratory for geochemical analysis and the remaining half kept in storage for future reference and uses. Diamond drilled core has been a HQ size and recoveries are consistently 100% across all drill holes intercept reported.

Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QAQC program involves insertion of duplicate samples, blanks and certified reference materials in the sample stream. Gold analyses are performed by standard fire assaying protocols using a 50-gram charge with atomic absorption (AAS) finish and a gravimetric finish performed for assays greater than 10 grams per tonne.

Sample Preparation and analysis are performed by independent SGS Laboratory in Mwanza, Tanzania. SGS Laboratory is ISO17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting.

The results summarized in this release are from Stamford Bridge target. The intercepts confirm an interpreted mineralized shear zone trending 070 degrees (ENE) that is over a km long. The intersections reported here has covered only the first 100m strike length, they are down-hole lengths and may not represent true width, however the true width is estimated to be between 50% – 60% of the length.

About TRX Gold Corporation

TRX Gold is rapidly advancing the Buckreef Gold Project. Anchored by a Mineral Resource published in May 2020, the project currently hosts an NI 43-101 Measured and Indicated Mineral Resource of 35.88 MT at 1.77 g/t gold containing 2,036,280 oz of gold and an Inferred Mineral Resource of 17.8 MT at 1.11g/t gold for 635,540 oz of gold. The leadership team is focused on creating both near-term and long-term shareholder value by increasing gold production to generate positive cash flow. The positive cash flow will be utilized for exploratory drilling with the goal of increasing the current gold Resource base and advancing the Sulphide Ore Project which represents 90% of current gold Resources. TRX Gold’s actions are led by the highest ESG standards, evidenced by the relationships and programs that the Company has developed during its nearly two decades of presence in Geita Region, Tanzania.

Posted November 12, 2024

Share this news article

MORE or "UNCATEGORIZED"


Newmont Announces Agreement to Divest CC&V for up to $275 Million

Newmont Corporation (NYSE: NEM)(TSX: NGT)(ASX: NEM)(PNGX: NEM) announced today that it has agreed t... READ MORE

December 6, 2024

Allied Gold Announces $175 Million Streaming Agreement with Wheaton Precious Metals International Securing Financing for its Kurmuk Project

Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) is pleased to announce that it has entered into... READ MORE

December 6, 2024

Outcrop Silver Expands High-Grade Silver Resource Potential at The Jimenez Target Intercepting 5.08 Metres Grading 336 Grams Per Tonne Silver Equivalent

Outcrop Silver & Gold Corporation (TSX-V: OCG) (OTCQX: OCGSF) (DE: MRG) is pleased to announc... READ MORE

December 5, 2024

Emerita Intersects 13.15m Grading 1.1% Copper, 1.1% Lead, 3.3% Zinc, 54.63 g/t Silver and 2.71 g/t Gold in Massive Sulphides at El Cura

Emerita Resources Corp. (TSX-V: EMO) (OTCQB: EMOTF) (FSE: LLJA) continues to intersect significant m... READ MORE

December 5, 2024

NexGold Intersects 6.3 metres of 50.81 g/t Au including 635 g/t Au over 0.5 Metres from Visible Gold Core Sample at the C Zone East

NexGold Mining Corp. (TSX-V: NEXG) (OTCQX: NXGCF) is pleased to provide high-grade results from th... READ MORE

December 5, 2024

Copyright 2024 The Prospector News