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Lake Victoria Gold Mobilizes Rigs for Sterilization Drilling at Imwelo as Project Advances Toward Production
Lake Victoria Gold Mobilizes Rigs for Sterilization Drilling at Imwelo as Project Advances Toward...
About this update from Northern Dynasty Minerals Ltd.
[{"type":"text","content":"\n\n\nLake Victoria Gold Mobilizes Rigs for Sterilization Drilling at Imwelo as Project Advances Toward Production\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nIssued on behalf of Lake Victoria Gold Ltd.USANewsGroup.com News CommentaryVANCOUVER, BC, May 7, 2026 /CNW/ -- Companies mentioned: Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), Integra Resources Corp. (NYSE-A: ITRG) (TSXV: ITR), Northern Dynasty Minerals Ltd. (NYSE-A: NAK) (TSX: NDM), Contango Silver & Gold Inc. (NYSE-A: CTGO) (TSX: CTGO).\n\n\n\n\n\n\n\nKey Takeaways:Reverse circulation drill rigs are mobilizing to site at Lake Victoria Gold's Imwelo Project this week, with a ~21-day, ~1,050-metre sterilization program scheduled to begin mid-May ahead of construction.The financing stack is structured and advancing toward close: a US$25 million gold loan facility from Monetary Metals (non-dilutive, repayable in gold) plus a fully committed C$3.8 million convertible debenture financing.Imwelo is fully permitted for mine construction and production, with metallurgical testing confirmed gold recovery rates of up to ~97% in metallurgical testwork using conventional methods.Tanzania has formally begun incorporating its 16% statutory free-carried interest in the Tembo mining licences, signalling regulatory progress on Lake Victoria Gold's second 100% owned project.Macro setup: J.P. Morgan projects gold pushing toward $5,000 per ounce by Q4 2026; State Street's April 2026 Gold Monitor reports sovereign gold reserves at an all-time high of 2,309 tonnes; the World Gold Council expects another ~850 tonnes of central bank gold purchases through 2026.When global mine output is hitting a wall and central banks are buying every available ounce, the developers that already have a permit, advancing funding, and crews on site stop looking like junior miners and start to attract increased market attention as potential contributors to future supply. That is the lane Lake Victoria Gold Ltd. (TSXV: LVG...