11:58 AM EDT, 10/24/2024 (MT Newswires) -- TRX Gold ( TRX ) on Thursday reported "its best drill result ever" and the discovery of a new gold mineralization shear zone at the Buckreef gold project in Tanzania.

A drillhole intersected 35.5 meters at 5.48 grams per tonne (g/t) gold from 64 meters about 200 meters east of the Buckreef Main Zone.

The newly discovered Stamford Bridge Zone yielded drill results that revealed geological characteristics and mineral alterations similar to that at the Buckreef Main Zone. The highlight drill result is located along the Stamford Bridge Zone.

"To have an over 50% success rate at this early stage of drilling a newly discovered shear zone is very exciting," said Isaac Bisansaba, manager of technical services at Buckreef Gold. "Thus far, from four drillholes, two returned remarkable results and the two other holes still show evidence of strongly mineralized shear structure."

The company has planned an expanded diamond drill program to test for further mineralization along this newly developing trend.

TRX Gold ( TRX ) shares were last seen up $0.02 to $0.57 on the Toronto Stock Exchange.

Price: 0.57, Change: +0.02, Percent Change: +3.64