TRX Gold's business strategy is to utilize cash flow generated from production at its Buckreef Gold Project, to pursue value-accreditive activities such as exploration, infill and expansion drilling. One of the priorities that the Company has had over the last 24 months has been to focus drilling efforts on the Buckreef Main Zone, where the property’s 2M ounce gold Mineral Resource1 is located.

gold exploration

2022 Drill Results

In 2022, ongoing work in the Main Zone area returned positive results to the northeast (“NE”) from step-out drilling. As a result, the Buckreef Main Zone was extended by 300 meters to a total strike length of 2.0km.

Drill highlights include:

  • Hole BMDD246 intersected 12.27 m grading @ 1.90 g/t Au from 191.7 m, on northernmost section line. Deposit is open to north and up-dip towards surface.
  • Hole BMDD244 intersected 4.50 m grading @ 1.96 g/t Au from 129.5 m.
  • Hole BMDD243 intersected 7.46 m grading @ 1.76 g/t Au from 101.5 m.

Table 1: Buckreef Main Zone North-East Extension (NEE) Assay Results (June – August 2022)

Table 1: Buckreef Main Zone North-East Extension (NEE) Assay Results (June – August 2022)

Figure 1: Map Showing Mineralization Extension and Location of Drill Results at Buckreef Main Zone NEE

Figure 1: Map Showing Mineralization Extension and Location of Drill Results at Buckreef Main Zone NEE

2023 Drill Results

In early 2023, the Company reported another significant development at the Buckreef Main Zone, announcing another extension of the known mineralization trend of approximately 200 meters, this time to the southwest and deeper under the historical South Pit. These results, combined with historical and shallow artisanal mine workings, located nearly an additional kilometer along trend to the southwest, are in the opinion of the Company’s geologists, strong evidence that economic gold mineralization could extend well beyond the known mineral resources.

Highlights include:

  • Hole BMDD250 intersected 34.80 m grading @ 1.26 g/t Au from 87.2 m, including 10.0 m grading @ 3.08 g/t from 89.9 m; and
  • Hole BMDD275 intersected 16.5 m grading @ 2.01 g/t Au from 53.7 m, including 7.0 m grading @ 3.28 g/t from 56.0 m.

Table 2: Buckreef Main Zone South Drill Hole Sample Results Summary

Table 2: Buckreef Main Zone South Drill Hole Sample Results Summary

Figure 2: Map Showing Location of Buckreef South Drill Holes and Their Result Highlights

Figure 2: Map Showing Location of Buckreef South Drill Holes and Their Result Highlights

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