News

Tanzania Gold signs Mkurumu drill deal

02 November 2006 13:18:00

AIM listed Tanzania Gold jumped today after it said it has signed a drilling contract for its Mkurumu gold project which is expected to start by mid November.

The gold explorer said its subsidiary Anglo Tanzania Gold has appointed Stanley Mining Services to conduct a 1,000 metre drilling programme on the joint venture.

The drill rig is on route to the site and is expected to commence drilling by mid November with the drilling programme scheduled to continue until the year end.

Preliminary results should begin to be received in the first quarter of 2007, say bosses.

"'We are delighted with the progress we have made in such a short period," said Tanzania Gold CEO Clive Sinclair-Poulton.

"We have managed to secure a cost effective drilling contract for the Mkurumu project despite a well documented global shortage of rigs."

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