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Lake Victoria Gold Launches Multi-Purpose Drill Program at Imwelo Area C to Support Mine Readiness
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Lake Victoria Gold Ltd. (TSXV: L...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Lake Victoria Gold Launches Multi-Purpose Drill Program at Imwelo Area C to Support Mine ReadinessVancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) (\"LVG\" or the \"Company\") is pleased to announce a 7,750 metre, multi-purpose drilling campaign at the Area C zone of its fully permitted Imwelo Gold Project in northwestern Tanzania. The program is designed to support short-term production readiness, resource conversion, and final pit design optimization, with completion targeted for Q3 2025. This campaign forms a key component of LVG's strategy to initiate a low-capex open-pit operation at Imwelo, with future underground development to be evaluated as part of ongoing high-grade exploration and resource growth.Strategic ContextThe Imwelo Project, located just 12 km from AngloGold Ashanti's Geita Gold Mine, is fully permitted under a 10-year mining license. Backed by a simple development plan and metallurgical recoveries >90%, the Company is targeting first gold within 12 months of commencement of construction.Area C is the first zone planned for production and has an average grade of 3.7 g/t Au. It also represents one of the highest-grade zones within the Imwelo historical resource envelope. Previous intercepts include:2m @ 5.06 g/t Au from 15m and; 6.8m @ 14.6 g/t Au from 33.2m (IMWRC-037)7m @ 3.22 g/t Au from 27m (IMRC-014)2m @ 7.5 g/t Au from 22m (IMWRC-038)Reported intercepts are downhole lengths; true widths are unknown. (Source: MEASURED GROUP PTY LTD (MG) Geology and Resource Estimate Report - Imwelo Project, Tanzania, May 2017Marc Cernovitch, President & CEO of Lake Victoria Gold, commented: \"We've designed this program to maximize Imwelo's short-term production readiness while extending the upside case. The drill data will help us finalize early mine scheduling, validate pit design, and potentially unlock high-grade extensions. With Area C now fully defined as our initial production zone, we're making meaningful progress toward becoming Tanzania's next gold producer.\"Program Highlights:Grade Control Drilling (3,750m RC):Designed on a 10x10 metre grid to a vertical depth of 20 metres, this work will define the initial ore/waste interface across the planned Area C open pit. The results will provide critical input for the early-stage mine p...