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Lake Victoria Gold project development in Tanzania

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2026-08-11 08:52 UTC → 2026-08-27 11:22 UTC · added removed

Lake Victoria Gold is advancing development at its projects in northwestern Tanzania. In late July 2026, the company’s subsidiary, Tembo Gold Ltd., initiated Phase 3 of a land valuation and compensation programme for the Imwelo Gold Project in the Chato District. This phase aims District to secure approximately 73 additional acres for mine infrastructure, including workshops and accommodation camps, bringing the total land secured for the project to roughly 526 acres. infrastructure land. By mid-August 2026, the company reported its maiden NI 43-101 mineral resource estimate for the 100%-owned Tembo Gold Project, located near Barrick’s Bulyanhulu Mine. The estimate identified 480,100 inferred ounces of gold at 1.12 g/t and 99,700 indicated ounces at 1.16 g/t within conceptual open-pit shells. A higher-grade component within the project contains 331,700 inferred ounces at 2.15 g/t and 68,600 indicated ounces at 2.00 g/t at a 1.00 g/t cut-off. To support resource conversion and mine planning, Lake Victoria Gold the company intends to conduct a 4,000–5,000 meter drilling program at the Ngula 1 zone and is exploring a potential toll-milling arrangement with Nyati Resources. In late August 2026, Lake Victoria Gold announced high-grade gold assay results from diamond drilling at the fully permitted Imwelo Gold Project. Drilling in Area C, the planned initial open-pit mining zone, revealed near-surface mineralization with quartz-vein samples reaching up to 142.90 g/t gold. Specific results included hole IMWDR029 reporting 28.71 g/t gold over 2.75 metres and hole IMWDR028 returning 12.20 g/t gold over 4.5 metres. The company is also conducting metallurgical testwork led by Nesch Mintech Tanzania Limited to optimize the processing of clay-rich weathered ore for future production.

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  1. 2026-08-27 11:22 UTC Lake Victoria Gold project development in Tanzania
  2. 2026-08-11 08:52 UTC Lake Victoria Gold project development in Tanzania

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