Lake Victoria Gold Ltd. (TSXV:LVG) (OTCQB:LVGLF) (FSE:E1K) has released the maiden National Instrument 43-101 (NI 43-101) Mineral Resource Estimate for its wholly owned Tembo Gold Project in northwestern Tanzania, outlining an initial resource of nearly 580,000 ounces of gold…
ross three deposits.Lake Victoria Gold Ltd. has outlined its first NI 43-101 compliant mineral resource at the Tembo Gold Project in Tanzania, establishing nearly 580,000 ounces of contained gold and giving the company a second defined development asset alongside its fully permitted Imwelo project.The resource is centered on the Ngula 1, Nyakagwe Village, and Nyakagwe East deposits, all located on four granted mining licences covering approximately 34 square kilometers within the Lake Victoria Goldfield. The project borders Barrick Gold’s Bulyanhulu Mine, one of Tanzania’s largest underground gold operations, although mineralization on adjacent properties is not necessarily indicative of mineralization at Tembo
Gold bars. Photo by Zlaťáky.cz on PexelsAmong the three deposits, Ngula 1 represents the most advanced target, accounting for approximately 331,000 ounces, or roughly 57% of the project’s total resource and nearly two-thirds of the Indicated ounces. According to the company, the deposit extends for approximately 600 metres along strike, remains open at depth and along strike, and will serve as the focus of a planned 5,000-metre infill drilling program designed to improve geological confidence and support future mine planning.Beyond the headline resource estimate, the company highlighted the presence of a higher-grade component within the deposit.
Using progressively higher cut-off grades, the resource estimate outlines 400,400 ounces grading 2.13 grams per tonne at a 1.0 g/t cut-off and 280,500 ounces grading 3.08 g/t at a 1.5 g/t cut-off. These figures are reported as grade-tonnage sensitivities within the same conceptual open-pit shells as the mineral resource estimate and do not…