Tanzania Gold PLC
02 November 2006
Tanzania Gold plc
('Tanzania Gold')
Tanzania Gold signs drilling contract for its Mkurumu gold project
• Drilling contract signed and expected to commence by mid November 2006
• Results of the 1,000 metre drilling programme anticipated to be received
in Q1 2007
Tanzania Gold plc (AIM: TZG) the AIM listed gold exploration and development
company, is pleased to announce that its wholly owned subsidiary Anglo Tanzania
Gold Limited has appointed Stanley Mining Services (T) Limited to conduct a
1,000 metre drilling programme on the Mkurumu joint venture project. The drill
rig is on route to the Mkurumu site and is expected to commence drilling by mid
November with the drilling programme scheduled to continue until the year end.
The directors of Tanzania Gold expect the preliminary results to begin to be
received in the first quarter of 2007.
Clive Sinclair-Poulton, Chief Executive of Tanzania Gold, said:
'We are delighted with the progress we have made in such a short period. We have
managed to secure a cost effective drilling contract for the Mkurumu project
despite a well documented global shortage of rigs and look forward to being able
to update our shareholders as soon as possible on the results of this initial
drilling programme.'
Notes for editors:
Tanzania Gold plc (www.tanzgold.com) is focused on the discovery and
exploitation of gold projects and assets in Tanzania which is the third largest
producer of gold in Africa and is increasing its production on an annual basis.
The majority of gold production is centred around the west of the country,
whereas Tanzania Gold is concentrating its efforts in the under explored east,
an area of great potential.
Tanzania has been independent since 1964 and is in the enviable position of
having consistent political stability, holding regular democratic multi-party
elections. Western style mining laws, combined with good infrastructure, skill
levels and a supportive government have attracted a number of world class mining
companies.
This information is provided by RNS
The company news service from the London Stock Exchange