June 1, 2021 Lake Victoria Gold

Tembo Gold Corp. Announces Positive Preliminary Outcomes of the GoldSpot Collaboration Project

Vancouver, British Columbia — June 1, 2021 – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company”) is pleased to announce the initial results of the work being conducted by GoldSpot Discoveries Corp. (“GoldSpot“), in conjunction with the Tembo geological team. The Company announced the collaboration agreement with GoldSpot on August 20th, 2020 (https://lakevictoriagold.com/2020/tembo-gold-technical-collaboration-agreement/). GoldSpot is applying the broad experience and knowledge of their multidisciplinary team of geoscientists and data scientists, coupled with artificial intelligence computing technology to re-interpret the Tembo data and any other available data that is relevant to the Tembo project area, to generate structural targets for ongoing gold exploration.

Highlights of the Outcomes to Date

  • GoldSpot has primarily focused on geophysics (airborne magnetics and ground induced polarization), soil and rock geochemistry, satellite imagery (ASTER data), structural interpretation, LithoLens (analysing core photography), gold distribution modeling and regional prospectivity mapping using the Random Forrest algorithm.
  • The data analysis and interpretation has provided an updated geophysical interpretation and improved structural understanding.
  • The work has resulted in confirmation of multiple targets on the Tembo property and, most importantly, has facilitated the spatial definition and prioritisation of the targets that is now the basis for planning a programme of systematic and focused exploration with a high degree of confidence.
  • In total, the GoldSpot Smart targeting approach was able to identify and rank 54 new targets on the property (Figure 1).
  • Arising out of this a number of recommendations regarding further work programmes have been provided.
  • The Company has prepared an initial drilling programme to provide further intersections of newly prioritized zones of mineralization with particular focus on generating detailed structural information.
  • Wider exploration activity has also been recommended, including geochemical and geophysical surveys, and will be prioritized after evaluation of all lithological, structural, and assay data generated from this initial drill programme.
  • The budget for this drilling will provide for 2,000m of diamond drilling, 5,500m of reverse circulation drilling and 7,500m of RAB/Aircore.

Smart Targeting Approach

The GoldSpot team of experts undertook the interpretation and analysis of each individual type of dataset available. Systematic evaluation of the various geophysical (magnetic and IP) datasets, in conjunction with high resolution LIDAR orthophotography and the detailed digital elevation model has led to the recognition of two important deformation events that appear to have played critical roles in the localization of many of the targeted zones of mineralization. Numerous northwest-southeast trending structures, the same orientation of those hosting the 20M oz Bulyanhulu gold deposit, together with northeast-southwest and east-west structural were identified by the GoldSpot study.

Key path-finder elements were identified from the existing Tembo geochemical database, and, together with the Muscovite Saturation Index, were demonstrated to be of potential value in highlighting structural zones of interest in drill core and will play an important role in the evaluation of the new drill programme.

The integration of all these variables and the resulting new interpretations have led to a greatly enhanced geological understanding of the area. Importantly, this Smart geological model has not only demonstrated strong similarities with the adjacent Bulyhanhulu gold deposits but also highlighted the additional mineralized structural trends and multiple targets within the Tembo Project area.

David Scott, President & CEO, stated, “This collaborative re-interpretation and enhancement of the technical consideration of the Tembo data has greatly improved the overall understanding of the geological setting within this greenstone fragment, has identified invaluable characteristics that are interpreted to accompany gold mineralization, and allowed us to identify what the future work programmes will consist of and prioritise these programmes on each of the targets to be tested. The work has confirmed our prior view that the Tembo project contains many targets characterized by structural attributes that may host gold mineralization. The detailed work programmes and budgets are now under preparation and will be launched shortly.”

A stringent QA/QC practice is being applied to all sample batches. A Verified Reference Material standard is inserted in every 20th sample, a known blank or blank standard every 20th sample and all samples with assays greater than 0.5g/t are re-assayed. 1% of all samples are submitted to an alternative laboratory for check analysis. In addition to this practice, the laboratory adheres to an internal QA/QC procedure, including standard samples and repeats and blanks inserted independently.

The above information has been prepared under the supervision of David Scott, Pr. Sci. Nat., who is designated as a “Qualified Person” with the ability and authority to verify the authenticity and validity of the data.

About Tembo Gold Corp.

Tembo is a Canadian publicly listed mineral exploration company with a 100% interest in the Tembo Gold Project. Tembo’s focus is the discovery and development of gold projects in Africa. The Company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa. The Company’s exploration strategy is to discover mineral resources as well as continue to look for additional opportunities that can bring value to the Company and shareholders.

The above information has been prepared under the supervision of David Scott, Pr. Sci. Nat., who is designated as a “Qualified Person” with the ability and authority to verify the authenticity and validity of the data.


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