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
TRX Gold Advances Larger Mine Development at Buckreef Gold. (Credit: Khusen Rustamov from Pixabay)
TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is pleased to provide an update on the advancement of the larger Buckreef Gold mine development project, in which ongoing work on a number of different fronts will allow the Company to grow the currently producing Buckreef Gold Mine to a significant operation.
The Buckreef Gold property consists of a 16 km2 land package located along the prolific Lake Victoria Greenstone Belt in the Geita region of Tanzania, approximately 110 km from the city of Mwanza and about 45 km to the west of Barrick Gold’s Bulyanhulu gold mine (196,000 oz in 2022) and nearly 35 km south from AngloGold Ashanti’s flagship Geita mine (521,000 oz in 2022).
The Buckreef Gold Mine has been operating since late 2021 and in the last 12 months, has undergone two successful mill expansions. In 2023, Buckreef Gold is expected to produce between 20,000 – 25,000 ounces at total average cash costs1 of $750 – $850 per ounce, thanks to its high margin, open-pit nature. The TRX Gold team is currently working on a third mill expansion that is aimed at doubling current processing capacity, which is expected to positively impact the number of ounces produced in fiscal 2024.
In the long-term, the Buckreef Mine Development Project described above is aimed at growing the Buckreef Gold mining operation to a significant gold producer in the Tanzanian landscape.
Source: Company Press Release