HomeEast AfricaTangold announces expansion plan for Buckreef Gold

Tangold announces expansion plan for Buckreef Gold

Tanzanian Gold has provided an update on Buckreef Gold Company procurement and construction plan for a 1,000+ tpd processing plant.

After analyzing various options to construct a 1,000+ tpd processing plant at Buckreef Gold, including an EPC build, it was determined that the most cost effective and timely approach to building a 1,000+ tpd processing plant was to self-construct this operation as an expansion to the 360 tpd processing plant. This revised cost effective plan supersedes the previously released plan.

The anticipated increase in cash flow from the 1,000+ processing plant will fund value enhancing activities at Buckreef Gold including, but not limited to, a robust exploration program in the Buckreef Main Zone, Buckreef West and the newly discovered Anfield Zone.

The Company and Buckreef Gold have developed a robust mine plan for the expanded mining operations and have confidence in the execution of the expanded operations and its potential for high financial returns. Buckreef Gold will operate the 360 tpd operation while simultaneously advancing construction on the 1,000+ tpd processing plant expansion.

The 1,000+ tpd operation is expected to be capable of production 15,000 – 20,000 ounces of gold per year based on the initial mine plan and grade profile.