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Tembo Reports the Commencement and Progress of Barrick's Exploration Program on Licences Recently Acquired from Tembo
Vancouver, British Columbia--(Newsfile Corp. - November 10, 2022) - Tembo Gold Corp. (TSX...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Tembo Reports the Commencement and Progress of Barrick's Exploration Program on Licences Recently Acquired from TemboVancouver, British Columbia--(Newsfile Corp. - November 10, 2022) - Tembo Gold Corp. (TSXV: TEM) (FSE: T23A) (\"Tembo\" or the \"Company\") is pleased to report that Bulyanhulu Gold Mine Limited (\"Buly\"), a subsidiary of Barrick Gold Corporation (\"Barrick\"), has provided the Company with the first Quarterly Report on work carried out on the licenses which Tembo recently sold to Buly.This follows the sale by Tembo of six non-core licenses to Buly through the Asset Purchase Agreement (APA) signed on December 7, 2021, between Mineral Industry Promotion and Consulting Company Limited (a Tembo Gold Corp subsidiary), Tembo Gold Corp, Bulyanhulu Gold Mine Limited, and Barrick Gold Corporation. The transaction closed on April 22, 2022, fieldwork by Buly has commenced and Buly has provided the first report of exploration activities to date. HighlightsThe Buly exploration team have completed field validation of the licenses and preliminary reconnaissance mapping.Community issues regarding access to the area have been resolved.Inlier-wide data integration and camp scale geological model update has been completed.Growth opportunities have been identified along structural trends associated with favorable host lithology (See Figure 1).Prioritization for follow up is based on potential impact on the businessExtensive alluvium preserves near surface discovery potential, geophysics and geochemical drilling is planned to advance blind satellite opportunities.Geophysics surveys are to be carried out using a Tanzanian service provider.Detailed regolith analysis over the greenstone inlier has been completed.Planning of future activities and work programmes to generate targets for geophysical and targeted drilling programmes, and improve confidence in these, have been advanced.The work demonstrated the high-grade potential, with results of samples of quartz veins from artisanal dumps giving values of 39.5g/t Au and 38.7g/t Au, and with numerous variable and lower grade samples as low as 1.5g/t and <0.4g/t also present.The Buly geological team has visited the Tembo camp and core yard and reviewed some of the recent core drilling being carried out by Tembo.  Figure 1:  Barrick Gold Growth Opportunities Identified Along S...