Tanzanian Gold Corporation (TanGold), an Africa-focused gold miner, has completed the first phase of the oxide mill expansion of 360 tonnes per at the now fully commissioned Buckreef Gold Project in Tanzania, saying it is on track to increase ore production rates to 1,000 tonnes per day by Q2 2022.

The company said the Buckreef Gold project broke its gold pouring record in January 2022 with 764 ounces. Additionally, it processed a total mill feed of 9,725 tonnes and achieved an average monthly processing plant utilisation of 97%.

The company officially commissioned the plant in January 2022.

Stephen Mullowney, chief executive officer of TanGold, described the monthly production record as "a significant milestone" for the Buckreef Gold Project.

Mullowney said the proceeds of the sale of the expanded production would be used to "fund value-enhancing activities, including exploration in the Buckreef Main Zone, Buckreef West and the newly discovered Anfield Zone," as well as the further upgrade to the processing plant.

Andrew Cheatle, chief operating officer of TanGold, said the company would now accelerate its target to reach 1,000 tonnes of gold per day at the Buckreef Gold Project.

TanGold also said that it has entered into a refining agreement with Argor Heraeus, a gold refiner based in Switzerland, and has successfully completed its first export of dorè for refining in February 2022.