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Tanga Resources soars on exceptional gold hits

Tanga Resources soars on exceptional gold hits

Shares in Tanga Resources (ASX:TRL) skyrocketed as much as 400% today on some outstanding gold drilling results at the Singida project in Tanzania including a 10-metre intercept grading higher than 100g/t gold.

Tanga was last trading 275% up at A$0.06 per share, which marks the stock’s highest level in about three years.

New drilling at Singida’s Winston area has produced 16 metres at 55.23g/t gold from 116 metres (including 9 metres at 92.78g/t gold from 117 metres) and 4 metres at 10.20g/t gold from 147 metres (including 1 metre at 22.40g/t gold from 148 metres).

Some of the highest grades, however, were recorded in re-splits with 13 metres at 86.19g/t gold from 117 metres, including 10 metres at 108.07g/t gold from 117 metres.

The high-grade gold mineralisation is the result of the first effort to drill at Winston remains open at depth and along strike.

Tanga controls more than 400 square kilometres of prospecting licences at Singida and now plans a significant upgrade in its exploration at the site.

Regional soil geochemistry at four other Singida prospects has already defined gold anomalism in laterised greenstones with grades up to 2,340ppb and visible gold in panning.

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Tanga Resources Ltd Timeline

February 27 2017
February 04 2016

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