Business
Tembo Gold Adds 70 km2 Adjoining Bulyanhulu and Provides Prospecting Licence Update
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2020) - Tembo Gold Corp. (TSXV: T...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Tembo Gold Adds 70 km2 Adjoining Bulyanhulu and Provides Prospecting Licence UpdateVancouver, British Columbia--(Newsfile Corp. - December 3, 2020) - Tembo Gold Corp. (TSXV: TEM) (\"Tembo\" or the \"Company\") is pleased to announce that it has secured, under license, an additional 70km2 including 30km2 directly adjoining Barrick's Bulyanhulu Mine. The Company's prospecting licence holding in Tanzania's Lake Victoria goldfield, encompassing the Tembo Project, now total 181km2.HighlightsTembo Gold formerly held 38 prospecting licences covering an area of 110km2 that constituted the Tembo Project area.The Tembo Project area has been consolidated into 7 prospecting licenses totaling 181km2, significantly reducing the administrative burden and costs associated with licenses.Importantly, this increase of ~70km2 includes additional highly prospective greenstone belt extending immediately to the north from Bulyanhulu.The most important new area hosting favorable greenstone geology includes the immediate northern extension of the Bulyanhulu Mine greenstone stratigraphy and structure which trends to the northwest into Tembo's new license area.Recently, artisanal miners have been extremely active working in the Bulyanhulu special mining license area which extends over a strike of ~1.5km in a northwesterly extension and close to the Bulyanhulu-Tembo boundary and the newly acquired license area.This working consists of a linear series of vertical artisanal shafts to bedrock that were active for the past five years.These greenstone lithologies are the host to gold mineralization encountered to date on the Tembo Project, at Bulyanhulu along strike to the southeast and in the goldfield regionally, as seen at other significant Tanzanian greenstone deposits such as Tulawaka.Property Location MapTo view an enhanced version of this map, please visit:https://orders.newsfilecorp.com/files/2214/69422_32d12663d43b0be8_002full.jpgDavid Scott, President & CEO, stated, \"The addition of these new licences will allow the Company to continue and expand on the exploration conducted to date. Furthermore, it will allow us to expand our work programs aimed at discovering and developing a mine on one or more deposits. The quality of the Bulyanhulu deposits and the proximity of Tembo's licence holding is a strong indicator of the potential of the licence are...