Lake Victoria Gold posts 580,000-ounce Tembo gold resource in Tanzania

Lake Victoria Gold has published a maiden NI 43-101 Mineral Resource Estimate for its 100%-owned Tembo Gold Project in northwestern Tanzania, outlining 480,100 ounces of inferred gold and 99,700 ounces of indicated gold across three near-surface deposits. The estimate totals 13.33 million tonnes at 1.12 g/t gold in the inferred category and 2.69 million tonnes at 1.16 g/t gold in the indicated category at a 0.25 g/t cut-off, with Ngula 1 holding the majority of both inferred and indicated ounces. At a 1.00 g/t cut-off, Tembo retains 331,700 inferred ounces at 2.15 g/t and 68,600 indicated ounces at 2.00 g/t, highlighting a higher-grade component that the company said strengthens the case for focused follow-up work. Lake Victoria Gold plans a 4,000-5,000 metre close-spaced drilling program at Ngula 1 on roughly 20 metre by 20 metre spacing to support resource conversion and future mine planning, while also advancing a previously announced toll-milling initiative with Nyati Resources (T) Limited tied to a 500-tonne-per-day processing plant on a Tembo licence. The project sits on four granted Mining Licences adjacent to Barrick's Bulyanhulu Mine, and the company said the current resource covers only three target areas within a broader property where 39 exploration targets have been identified.

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