Lake Victoria Gold Defines Maiden Resource at Tanzanian Tembo Project

The estimate covers three near-surface deposits—Ngula 1, Nyakagwe Village, and Nyakagwe East—within the company’s 100%-owned Tanzanian property. Ngula 1 stands out as the primary development focus, holding roughly 63% of the project’s indicated ounces. Lake Victoria Gold plans to initiate a 4,000 to 5,000-metre close-spaced drilling program at the site to improve geological confidence and assist in future mine planning.

Beyond drilling, the company is moving forward with a toll-milling initiative alongside Nyati Resources (T) Limited. This strategy aims to create a capital-efficient processing route for material extracted from Ngula 1. While the project remains in the resource-definition stage, management views the concentration of higher-grade material as a critical foundation for its multi-asset growth strategy in the region. The company has identified 39 exploration targets across the property, suggesting significant potential for expansion beyond the currently defined zones.