Business
Tembo to Generate Maiden Resource Estimate
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2023) - Tembo Gold Corp. (TSXV: TEM) ...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Tembo to Generate Maiden Resource EstimateVancouver, British Columbia--(Newsfile Corp. - May 25, 2023) - Tembo Gold Corp. (TSXV: TEM) (FSE: T23A) (OTCQB: TBGPF) (\"Tembo\" or the \"Company\") - David Scott, President & CEO, is pleased to announce that the Company has initiated a maiden resource estimate on its Tembo property, and provides an update on the Company's strategy for its Tembo project in 2023, focusing initially on resource evaluation and new target testing.HighlightsThree targets, Ngula 1, Nyakagwe Village and Nyakagwe East, have returned a significant number of both high-grade, and in places wide, gold intersections: 22.18g/t Au over 15.00m from 299.00m; 6.55g/t Au over 7.46m from 370.46m; 12.96g/t Au over 5.54m from 89.01m; 16.58g/t Au over 3.55m from 43.88 and 27.88g/t Au over 3.00m from 65.90m.The work has begun. These intersections and the improved geological understanding from recent drilling have provided confidence that there is the potential for a substantial resource at all three targets that warrants modeling and quantification.The Tembo Project shares a contiguous geology with Bulyanhulu Mine and the project boundary is within 5km of the mine's shaft, with the host structures at the mine trending directly into Tembo's ground.An important conclusion of the most recent drill program is that aside from the immediate extension of the Bulyanhulu Mine host structural zone extending into Tembo's ground, numerous parallel and oblique gold bearing structures host gold on the Tembo Project.Ongoing surface exploration activities on the remainder of the project area are underway to improve target prioritization, identifying those that are mineralized and that will warrant drilling in the future. Maiden Resource EstimateThe detailed review of the historical drill database, reinforced by the new information generated by the most recent drill campaign, has now positioned Tembo to undertake its first resource estimation with a high degree of confidence. In-house interpretation of the host-rock and structural controls of gold distribution within the mineralized shear zones has been undertaken and preliminary wireframes have been created.It is expected that a resource statement will be released within six to eight weeks.The next steps will then be to implement the drill programs to upgrade the confidence levels of thes...