Lake Victoria Gold (TXV LVG / WKN A3E4WC) reports new high-grade gold content of up to 35.45 g/t gold from sampling in artisanal mining sites on the 100% owned Tembo project in northwest Tanzania!
The results come from a recent grab sampling program on active pits operated by local gold miners and are intended to refine the target definition for the planned drilling program in the first quarter of 2026. At the same time, Lake Victoria Gold is specifying the development planning with a view to possible processing via an existing processing plant in the immediate vicinity of the project.
Lake Victoria Gold identifies new high-grade zones on the Tembo project
As part of the campaign, Lake Victoria Gold visited a total of eight active mining sites of local gold miners within the approved mining licenses of the Tembo project. The grab samples taken come from both exposed mineralized material on the surface and from shallow mining floors. Two areas were newly identified, and two more correspond to already known targets from previous drilling programs, which, however, have so far only been explored to a limited extent and sometimes unsystematically.
The results from several core zones of the project are particularly striking:
- Ngula 1 delivered samples with grades of up to 35.45 g/t gold and 12.94 g/t gold. These values confirm the classification of Ngula 1 as Lake Victoria Gold’s primary drilling target and underscore the continuity of high-grade structures on the surface.
- Ngula 2 achieved grab samples of 35.21 g/t, 10.27 g/t and 10.30 g/t gold, thus building on historical results from mining and exploration.
- At the Mgusu target, which has so far only been drilled to a limited extent, 5.90 g/t gold was detected – an indication of further potential outside the previous core zones.
- The newly mapped Nyangomango zone delivered samples with 7.86 g/t and 8.50 g/t gold.
- On Nyakagwe East, renewed activity by local gold miners confirmed grades of 22.68 g/t and 3.16 g/t gold, suggesting possible northwestern extensions of already known mineralization.
Lake Victoria Gold points out that grab samples are selective samples. They serve to confirm the presence of gold mineralization and to sharpen drilling targets, but are not representative of the average grade of a deposit.
Structural geology and drilling targets of Lake Victoria Gold on Tembo
The geological observations made during the sampling provide additional evidence of the structural control of gold mineralization on the Tembo project. The higher gold grades are typically bound to smoky-gray quartz veins that occur in sheared basalts and contain visible sulfides such as pyrrhotite and pyrite.
The active artisanal mining sites follow several structural trends, including northeast, northwest, and east-west trending structures. These orientations are consistent with Lake Victoria Gold’s existing structural interpretation for the entire Tembo license area and are supported by linear magnetic anomalies that also occur along these directions.
Another feature of the project area is a 4 to 10 meter thick cover layer of transported alluvial sediments that overlies the primary rocks. The artisanal mining sites locally cut this overburden and provide selective insights into the underlying mineralization. For Lake Victoria Gold, it can be deduced from this that further concealed zones with gold potential could exist along the identified structural trends, which have not yet been or have only been insufficiently tested with boreholes.
Based on the current results, the company has defined three priority drilling targets, which have so far not had sufficient drilling coverage and will therefore be the focus of the planned program. The focus here is on the detailed exploration of Ngula 1, supplemented by systematic tests on other structural corridors such as Ngula 2, Mgusu, Nyakagwe East and Nyangomango.
Development strategy of Lake Victoria Gold: From exploration to potential production
In parallel with the technical work, Lake Victoria Gold is pushing ahead with plans for a possible rapid production start-up on the Tembo project. The central element here is an already communicated, non-binding letter of intent (Letter of Intent or LOI) with Nyati Resources (T) Limited regarding potential processing agreements.
Nyati operates a Carbon-in-Pulp (CIP) processing plant with a capacity of around 500 tons per day on one of Lake Victoria Gold’s mining licenses. The ongoing discussions are aimed at a toll processing agreement that could enable the company to process ore from the Tembo project in this plant in the future as part of a toll processing model.
Such an agreement would be subject to several conditions, including:
- successful confirmation drilling,
- the necessary permits,
- as well as the conclusion of a legally binding processing agreement.
In this context, Lake Victoria Gold speaks of a potential path to a short-term production solution that relies on existing infrastructure and could thus limit the capital expenditure for the construction of its own plant. The aim is to finalize a binding agreement with Nyati in 2026.
Lake Victoria Gold’s planned drilling program is scheduled to start in the first quarter of 2026 and will initially focus closely on a 300 – 400 meter long section of Ngula 1. Consistently high gold grades are already present there from previous drilling and recent grab samples. The program is designed to expand the resource base and better define the geological continuity of the structures towards depth and along the strike.
