African Barrick Gold raises resources estimates in Tanzania

FTSE 250 gold miner African Barrick Gold has hiked its previous resources estimates for the Tusker deposit at the Nyanzaga Project in Tanzania. The updated in-pit resource is in excess of four million ounces (Moz) of gold (Au), consisting of 3.481Moz at a grade of 1.47g/t Au indicated and 0.598Moz at 2.05g/t Au inferred, a fourfold increase on the initial estimates of 0.313Moz indicated and 0.650Moz inferred.