The Tembo Gold Project Maiden Resource Development Goal
The detailed review of the historical drill database, reinforced by the new information generated by the most recent drill campaign (2023), has positioned Lake Victoria Gold to undertake its first resource estimation with a high degree of confidence.
PRIMARY EXPLORATION TARGETS
Ngula 1, Nyakagwe Village and Nyakagwe East
From the substantial and comprehensive body of work that has been developed, the Company has focused on three targets: Ngula 1, Nyakagwe Village and Nyakagwe East.
HIGH-GRADE GOLD INTERSECTIONS
All three targets have returned significant high-grade, and in places wide, gold intersections
- 22.18g/t Au over 15.00m from 299.00m;
- 6.55g/t Au over 7.46m from 370.46m;
- 12.96g/t Au over 5.54m from 89.01m;
- 16.58g/t Au over 3.55m from 43.88 and
- 27.88g/t Au over 3.00m from 65.90m.
MAIDEN RESOURCE DEVELOPMENT TIMELINE
TARGET GENERATION AND PRIORITISATION
GoldSpot study, target generation and results evaluation | Confirm and prioritise existing and new targets | Drill programme design and budget estimation | Commence government compliance local procurement process for drilling contractor and invite tender submissions
FOLLOW-UP DRILL PROGRAMME
Extend drilling along strike and downdip, follow-up exceptional intersections, e.g. TDD0041: 22.81g/t Au/15.00m/from 299.00m
FIRST PASS RESOURCE DRIILL PROGRAMMES
Commence drilling on new targets using diamond drilling to determine structure and geology and progress the programs close-spaced RC and DD resource drilling as results warrant
ORE RESOURCE DRILL PROGRAMMES
Develop wireframe models and commence resource determination as drill results justify
INTERPRETATION & WIREFRAMING
interpretation of the host-rock and structural controls of gold distribution within the mineralized shear zones has been undertaken and preliminary wireframes have been created
A contiguous geology with Barrick’s Bulyanhulu Mine
Host structures at the mine trending directly into LVG’s ground
The Tembo Project shares a contiguous geology with Barrick’s Bulyanhulu Mine and the project boundary is within 5km of the mine’s shaft, with the host structures at the mine trending directly into Tembo’s ground. An important conclusion of the most recent drill program is that aside from the immediate extension of the Bulyanhulu Mine host structural zone extending into the Tembo ground, numerous parallel and oblique gold bearing structures host gold on the Tembo Project.
All activities subject to financing, permitting and change without notice. See forward looking statements disclaimer. DISCLAIMER