Lake Victoria Mining Company Identifies Five Kilometer Long Gold Trend; Assay Results Average 7.1 Grams per Metric Ton from Underground Sampling, Singida Project, Tanzania
Golden, Colorado, August 6th, 2009 (LVCA.OB) – Underground shaft sampling of artisanal mines at the Singida “Gold Rush” project has produced an average grade of 7.1 grams of gold per metric ton; 175 underground samples were taken from 36 mine shafts and related mine workings. These initial results suggest that gold is present for a distance of five kilometers where the mine shafts are located.
A total of thirty-six mine shafts and related underground mine workings were sampled between June 13th and July 8th, 2009, within a 5 kilometer long trend, and in an area of active artisanal mining. Numerous artisanal mine shafts and workings have exposed steeply dipping, northwest-southeast trending gold bearing quartz veins that are accessible for mapping and sampling. Where sampled, the veins vary from about 30 centimeters to 2 meters thick.
A total of 175 vein and wall rock samples were collected; the maximum accessible sampling depth was 47 meters below surface. The samples were analyzed at laboratories in Mwanza, Tanzania, and quality control samples were analyzed along with the underground samples. The underground assays have an uncut average value of 7.1 grams per metric ton, or 0.23 ounces per ton. Dr. Roger Newell, president of Lake Victoria stated “These assay results are very encouraging and confirm the importance of the property. We look forward to further advancing the property with additional sampling and possible underground drilling.” Further sampling, statistical analysis and geologic-geophysical mapping are underway in an attempt to closely define and extend the strike length of the quartz vein system. Additional results will be reported as they become available.
Geologically, the quartz veins lie within Precambrian mafic volcanic rocks that are part of a larger greenstone belt. The Company is conducting a detailed ground magnetic survey to assist in defining gold bearing geological structures and to further extend the vein structures. Initial indications are that the veins continue at depth below 47 meters and for distances beyond a 5 kilometer strike length. If additional exploration continues to prove successful, this area will develop into an important commercial gold mining district.
Summary Table: Underground Gold Assay Results, Singida District, Tanzania
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Shaft No. |
Sample No. |
Depth (m) |
Au (g/t) |
Sample Description |
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SH001 |
LNSH001 |
4 |
0.58 |
10cm |
|
|
LNSH002 |
4 |
2.94 |
FW |
|
|
LNSH003 |
4 |
0.12 |
HW |
|
SH002 |
LNSH004 |
4 |
0.04 |
30cm |
|
|
LNSH005 |
4 |
0.08 |
FW |
|
|
LNSH006 |
4 |
0.05 |
HW |
|
SH003 |
LNSH007 |
28 |
1.7 |
30cm |
|
|
LNSH008 |
28 |
0.03 |
FW |
|
|
LNSH009 |
28 |
7.62 |
HW |
|
SH004 |
LNSH010 |
41 |
5.0 |
50cm |
|
|
LNSH011 |
41 |
10.1 |
50cm |
|
|
LNSH012 |
41 |
18.6 |
50cm |
|
|
LNSH013 |
41 |
3.07 |
50cm |
|
|
LNSH014 |
41 |
27.7 |
FW |
|
|
LNSH015 |
41 |
0.91 |
HW |
|
SH005 |
LNSH016 |
18 |
3.21 |
50cm |
|
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LNSH017 |
18 |
5.86 |
50cm |
|
|
LNSH018 |
18 |
3.55 |
50cm |
|
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LNSH019 |
18 |
1.41 |
FW |
|
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LNSH021 |
18 |
21.0 |
HW |
|
SH006 |
LNSH022 |
40.7 |
1.91 |
25cm |
|
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LNSH023 |
40.7 |
1.76 |
25cm |
|
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LNSH024 |
40.7 |
0.38 |
FW |
|
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LNSH025 |
40.7 |
2.6 |
HW |
|
SH007 |
LNSH026 |
44 |
2.48 |
30cm |
|
|
LNSH027 |
44 |
2.94 |
Duplicate of LNSH026 |
|
|
LNSH028 |
44 |
0.52 |
FW |
|
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LNSH029 |
44 |
15.9 |
HW |
|
SH008 |
LNSH030 |
30 |
9.68 |
25cm |
|
|
LNSH031 |
30 |
8.71 |
25cm |
|
|
LNSH032 |
30 |
9.54 |
25cm |
|
|
LNSH033 |
30 |
12.4 |
25cm |
|
|
LNSH034 |
30 |
1.61 |
FW |
|
|
LNSH035 |
30 |
2.69 |
HW |
|
SH009 |
LNSH036 |
33 |
3.29 |
30cm |
|
|
LNSH037 |
33 |
2.84 |
Duplicate of LNSH036 |
|
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LNSH038 |
33 |
3.16 |
FW |
|
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LNSH039 |
33 |
0.16 |
HW |
|
SH010 |
LNSH041 |
3 |
1.68 |
30cm |
|
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LNSH042 |
3 |
1.38 |
Duplicate of LNCH041 |
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LNSH043 |
3 |
0.47 |
FW |
|
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LNSH044 |
3 |
1.3 |
HW |
|
SH011 |
LNSH045 |
8 |
0.41 |
30cm |
|
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LNSH046 |
8 |
0.21 |
Duplicate of LNSH045 |
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LNSH047 |
8 |
0.47 |
FW |
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LNSH048 |
8 |
0.05 |
HW |
|
SH012 |
LNSH049 |
3 |
3.37 |
20cm |
|
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LNSH050 |
3 |
1.36 |
Duplicate of LNSH049 |
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LNSH051 |
3 |
0.03 |
FW |
|
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LNSH052 |
3 |
0.02 |
HW |
|
SH013 |
LNSH053 |
3 |
3.90 |
20cm |
|
|
LNSH054 |
3 |
1.16 |
Duplicate of LNSH053 |
|
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LNSH055 |
3 |
0.08 |
FW |
|
|
LNSH056 |
3 |
1.04 |
HW |
|
SH014 |
LNSH057 |
10 |
1.65 |
30cm |
|
|
LNSH058 |
10 |
0.93 |
30cm |
|
|
LNSH059 |
10 |
0.38 |
CH |
|
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LNSH061 |
10 |
1.65 |
FW |
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LNSH062 |
10 |
0.11 |
HW |
|
SH015 |
LNSH063 |
18 |
140.0 |
30cm |
|
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LNSH064 |
18 |
21.8 |
30cm |
|
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LNSH065 |
18 |
82.8 |
CH |
|
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LNSH066 |
18 |
0.15 |
FW |
|
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LNSH067 |
18 |
0.50 |
HW |
|
SH016 |
LNSH068 |
2 |
4.11 |
20cm |
|
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LNSH069 |
2 |
1.67 |
Duplicate of LNSH068 |
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LNSH070 |
2 |
3.41 |
CH |
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LNSH071 |
2 |
0.33 |
FW |
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LNSH072 |
2 |
0.22 |
HW |
|
SH017 |
LNSH073 |
5 |
71.0 |
20cm |
|
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LNSH074 |
5 |
59.6 |
Duplicate of LNSH073 |
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LNSH075 |
5 |
37.8 |
CH |
|
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LNSH076 |
5 |
4.38 |
FW |
|
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LNSH077 |
5 |
0.57 |
HW |
|
SH018 |
LNSH078 |
11 |
4.31 |
30cm |
|
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LNSH079 |
11 |
89.5 |
Duplicate of LNSH078 |
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LNSH081 |
11 |
27.6 |
CH |
|
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LNSH082 |
11 |
0.55 |
FW |
|
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LNSH083 |
11 |
3.10 |
HW |
|
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LNSH084 |
24 |
1.35 |
50cm |
|
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LNSH085 |
24 |
18.6 |
50cm |
|
|
LNSH086 |
24 |
32.5 |
CH |
|
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LNSH087 |
24 |
1.61 |
FW |
|
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LNSH088 |
24 |
3.69 |
HW |
|
SH019 |
LNSH089 |
31 |
1.77 |
25cm |
|
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LNSH090 |
31 |
48.4 |
25cm |
|
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LNSH091 |
31 |
11.9 |
CH |
|
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LNSH092 |
31 |
0.23 |
FW |
|
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LNSH093 |
31 |
11.8 |
HW |
|
SH020 |
LNSH094 |
3 |
0.16 |
20cm |
|
|
LNSH095 |
3 |
0.18 |
Duplicate of LNSH094 |
|
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LNSH096 |
3 |
0.16 |
CH |
|
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LNSH097 |
3 |
0.27 |
FW |
|
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LNSH098 |
3 |
1.83 |
HW |
|
SH021 |
LNSH099 |
21 |
9.85 |
25cm |
|
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LNSH101 |
21 |
5.89 |
25cm |
|
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LNSH102 |
21 |
7.49 |
CH |
|
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LNSH103 |
21 |
1.41 |
FW |
|
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LNSH104 |
21 |
0.22 |
HW |
|
SH022 |
LNSH105 |
4 |
0.29 |
45cm |
|
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LNSH106 |
4 |
0.18 |
Duplicate of LNSH105 |
|
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LNSH107 |
4 |
0.25 |
CH |
|
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LNSH108 |
4 |
0.76 |
FW |
|
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LNSH109 |
4 |
0.26 |
HW |
|
SH023 |
LNSH110 |
3 |
0.02 |
25cm |
|
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LNSH111 |
3 |
0.03 |
25cm |
|
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LNSH112 |
3 |
0.01 |
CH |
|
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LNSH113 |
3 |
0.02 |
FW |
|
|
LNSH114 |
3 |
0.11 |
HW |
|
SH024 |
LNSH115 |
3 |
0.01 |
40cm |
|
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LNSH116 |
3 |
0.24 |
Duplicate of LNSH115 |
|
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LNSH117 |
3 |
0.02 |
CH |
|
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LNSH118 |
3 |
0.01 |
FW |
|
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LNSH119 |
3 |
0.02 |
HW |
|
SH025 |
LNSH121 |
47 |
0.4 |
25cm |
|
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LNSH122 |
47 |
2.32 |
25cm |
|
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LNSH123 |
47 |
2.36 |
CH |
|
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LNSH124 |
47 |
0.02 |
FW |
|
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LNSH125 |
47 |
0.30 |
HW |
|
SH026 |
LNSH126 |
23 |
10.8 |
20cm |
|
|
LNSH127 |
23 |
9.47 |
CH |
|
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LNSH128 |
23 |
0.45 |
FW |
|
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LNSH129 |
23 |
3.75 |
HW |
|
SH027 |
LNSH130 |
42 |
28.0 |
20cm |
|
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LNSH131 |
42 |
13.7 |
20cm |
|
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LNSH132 |
42 |
5.32 |
CH |
|
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LNSH133 |
42 |
0.88 |
FW |
|
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LNSH134 |
42 |
0.57 |
HW |
|
SH028 |
LNSH135 |
32 |
1.62 |
30cm |
|
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LNSH136 |
32 |
2.25 |
Duplicate of LNSH135 |
|
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LNSH137 |
32 |
17.8 |
CH |
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LNSH138 |
32 |
0.21 |
FW |
|
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LNSH139 |
32 |
0.41 |
HW |
|
SH029 |
LNSH141 |
40 |
1.95 |
30cm |
|
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LNSH142 |
40 |
1.03 |
Duplicate of LNSH141 |
|
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LNSH143 |
40 |
0.85 |
CH |
|
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LNSH144 |
40 |
0.19 |
FW |
|
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LNSH145 |
40 |
3.23 |
HW |
|
SH030 |
LNSH146 |
4 |
0.08 |
25cm |
|
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LNSH147 |
4 |
0.11 |
CH |
|
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LNSH148 |
4 |
0.23 |
FW |
|
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LNSH149 |
4 |
0.51 |
HW |
|
SH031 |
LNSH150 |
18 |
0.07 |
20cm |
|
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LNSH151 |
18 |
0.05 |
20cm |
|
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LNSH152 |
18 |
0.17 |
CH |
|
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LNSH153 |
18 |
0.57 |
FW |
|
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LNSH154 |
18 |
0.15 |
HW |
|
SH032 |
LNSH155 |
2 |
3.08 |
30cm |
|
|
LNSH156 |
2 |
2.29 |
CH |
|
|
LNSH157 |
2 |
4.63 |
FW |
|
|
LNSH158 |
2 |
2.43 |
HW |
|
SH033 |
LNSH159 |
4 |
1.44 |
30cm |
|
|
LNSH161 |
4 |
9.55 |
CH |
|
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LNSH162 |
4 |
2.53 |
FW |
|
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LNSH163 |
18 |
0.85 |
HW |
|
|
LNSH164 |
16 |
6.14 |
30cm |
|
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LNSH165 |
16 |
29.1 |
Duplicate of LNSH164 |
|
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LNSH166 |
16 |
24.0 |
CH |
|
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LNSH167 |
16 |
0.37 |
FW |
|
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LNSH168 |
16 |
0.82 |
HW |
|
SH034 |
LNSH169 |
16 |
0.56 |
25cm |
|
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LNSH170 |
16 |
0.97 |
25cm |
|
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LNSH171 |
16 |
0.26 |
CH |
|
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LNSH172 |
16 |
0.10 |
FW |
|
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LNSH173 |
16 |
0.15 |
HW |
|
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LNSH174 |
16 |
0.94 |
15cm |
|
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LNSH175 |
16 |
0.20 |
FW |
|
|
LNSH176 |
16 |
1.0 |
HW |
|
SH035 |
LNSH177 |
18.5 |
11.8 |
20cm |
|
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LNSH178 |
18.5 |
28.6 |
CH |
|
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LNSH179 |
18.5 |
0.22 |
HW |
|
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LNSH181 |
18.5 |
0.02 |
FW |
|
SH036 |
LNSH182 |
25.5 |
61.5 |
12cm |
|
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LNSH183 |
25.5 |
0.84 |
HW |
|
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LNSH184 |
25.5 |
0.12 |
FW |
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Notes for the Summary Table:
Cm means vein width in centimeters.
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Depth means distance the sample was collected below surface. |
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FW means sample was collected in the footwall of the vein. |
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HW means sample was collected in the hanging wall of the vein. CH means chip sample from exposed vein area. Standard samples for check assay references are omitted from table. |
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About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania produced 1.75 million troy ounces of gold during 2007 and is the 3rd largest gold producer in Africa behind South Africa and Ghana.
Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com or by contacting:
Lake Victoria Mining Company, Inc.
Dr. Roger A. Newell
Phone: 303 -586-1390
Email: info@lvcamining.com
Disclaimer
This news release may contain forward looking statements, relating to the Company's operations or the environment in which it operates, which are based on Lake Victoria Mining Company, Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Lake Victoria Mining Company, Inc.'s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Lake Victoria Mining Company, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.