A $450,000 private placement has been completed by Tan Range Exploration (ASE), which plans to begin exploration on several recently granted concessions in northern Tanzania.
One concession covers the extension of the Bulyankhula deposit, the company says, where small-scale mining operations have previously recovered gold. Tan Range says Bulyankhula has reported 2.3 million tonnes grading 11.8 grams gold per tonne, plus silver values, across widths averaging 4.5 metres to a depth of 250 metres.
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