Also Takes Reigns As Managing Director Of Wholly-Owned Subsidiary
Tanzanian Gold Corporation (TSX:TNX) has confirmed Khalaf Rashid as Senior Vice President, Tanzania and as Managing Director of the company’s wholly-owned subsidiary in Tanzania (Tanzam2000).
Mr Rashid is a Tanzanian citizen and resident and joins the TanGold Executive Team bringing a wealth of experience and family history in Tanzanian business, politics and Government that dates back to the formation of the country. He is highly respected and recognized in the business community having held senior executive positions in multiple sectors including industrials, education and marketing communications.
He has worked with the Government of Tanzania on implementation of various development projects and assisted in an advisory capacity on several policy matters. He has a deep understanding of the business and Government working environment and is passionate about private investment, with a focus on creating a positive socio-economic impact for low-income households.
He joins the TanGold Executive Team having assisted the corporation in successfully aligning its Tanzanian operations to comply with the revised laws and regulations governing mining in Tanzania. He will be instrumental in driving business growth and in working with the Executive Team to identify future investment opportunities to expand the Company’s portfolio and value.
CEO, Stephen Mullowney, said establishing a successful business requires a multitude of skill sets.
“Khalaf exhibits a strong business acumen and awareness of Government policy. He will work closely with our joint venture partner STAMICO, and our exceptional technical team in Tanzania, including our COO, Andrew Cheatle and Co-General Managers at Buckreef, Isaac and Gaston, in the development of Buckreef,” Mr Mullowney said.
Tanzanian Gold Corporation along with its joint venture partner, STAMICO is building a significant gold project at Buckreef in Tanzania that is based on an expanded Mineral Resource base and the treatment of its mineable Mineral Reserves in two standalone plants. Measured Mineral Resource now stands at 19.98MT at 1.99g/t gold containing 1,281,161 ounces of gold and Indicated Mineral Resource now stand at 15.89MT at 1.48g/t gold containing 755,119 ounces of gold for a combined tonnage of 35.88MT at 1.77g/t gold containing 2,036,280 ounces of gold.
The Buckreef Project also contains an Inferred Mineral Resource of 17.8MT at 1.11g/t gold for contained gold of 635,540 ounces of gold. The company is actively investigating and assessing multiple exploration targets on its property.
