Lake Victoria Gold Advances Tembo Land Deal, Taps Gold-Backed Loan for Imwelo
Vancouver, BC – September 30, 2026 -- Lake Victoria Gold Ltd. (TSXV: LVG) has launched its first land compensation programme at Tembo, covering 111.32 acres directly over the Ngula 1 deposit in Tanzania's Lake Victoria Goldfield, with completion targeted for early October 2026.
Maiden resource at Tembo delivers 480,100 inferred ounces next to Barrick's Bulyanhulu mine
The August 11 NI 43-101 estimate for Tembo reported Inferred resources of 13.33 million tonnes at 1.12 g/t gold for 480,100 ounces, plus Indicated resources of 2.69 million tonnes at 1.16 g/t for 99,700 ounces, based on a 0.25 g/t cut-off and a US$2,400/oz gold price. At a tighter 1.00 g/t cut-off, grade rises to 2.15 g/t for 331,700 Inferred ounces and 2.00 g/t for 68,600 Indicated ounces. Ngula 1 holds roughly 56% of Inferred and 63% of Indicated ounces and is the target of a planned 4,000-to-5,000-metre close-spaced drill program.