Business
Lake Victoria Gold Plans Strategic Resource Drilling Campaign at Ngula 1 to Support Processing JV
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Lake Victoria Gold Ltd. (TSXV: LV...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Lake Victoria Gold Plans Strategic Resource Drilling Campaign at Ngula 1 to Support Processing JVVancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) (\"LVG\" or the \"Company\") is pleased to announce that will undertake a 3,000m reverse circulation (RC) drilling program within a recently granted mining licence (April 9, 2025) at Ngula 1, to delineate and evaluate a shallow resource. The goal is to establish sufficient resource to provide mineralized material to feed the recently announced (May 1, 2025) opportunity to process near-surface material in a third party processing facility located within 3.5km of this prospect. Ngula 1 has returned numerous promising gold intersections in several previous drilling campaigns (January 31, 2023). Selected shallow intersections include*:TDD0004: 3.13g/t Au over 25.89m from 41.00m, including 4.46g/t Au over 2.60m, 5.05g/t Au over 0.50m, 2.02g/t Au over 0.50m, and 9.38g/t Au over 6.30m.TRC0013: 17.23g/t Au over 4.00m from 19.00m.TRC0003: 3.76g/t Au over 2.00m from 21.00m; 28.57g/t Au over 3.00m from 54.00m; and 5.28g/t Au over 4.00m from 72.00m.TDD0160: 5.22g/t Au over 1.93m from 107.18m and 2.73g/t Au over 1.54m from 116.39m.TRC0001: 2.87 g/t Au over 3.00m from 27.00m, 1.76 g/t Au over 3.00m from 46.00m, and 12.87 g/t Au over 3.00m from 84.00mTDD0133: 2.37g/t Au over 1.00m from 35.00m.TDD0161: 1.64g/t Au over 3.07m from 54.43m.TRC0002: 2.58g/t Au over 2.00m from 8.00m; 2.74g/t Au over 1.00m from 36.00m; and 1.29g/t Au over 5.00m from 52.00m.TDD0158: 17.60g/t Au over 1.48m from 31.12m.TDD0126: 1.80g/t Au over 6.46m from 25.00m.TDD0157: 1.59g/t Au over 1.15m from 40.34m.TRC0014: 1.62g/t Au over 1.00m from 52.00m.David Scott, Pr. Sci. Nat., Managing Director Tanzania & Director of Lake Victoria Gold: \"Ngula 1 demonstrates strong geological continuity and consistent high-grade mineralization over multiple campaigns. The structural complexity, folding patterns, and repeated shear-hosted zones are exactly the kind of setting we associate with significant gold systems in the Lake Victoria Goldfield. This close-spaced RC program will give us the data density needed to move from exploration success toward a resource, and potentially, production.\"Strategic ContextWhile the proposed small-scale mining joint venture at...