There are 76 reverse circulation (RC) drill holes currently planned totalling nearly 5,000 meters to test these targets.
Golden, CO (PRWEB) July 14, 2010
(LVCA: OTCBB) At least five gold targets within the northwest-southeast trending Singida shear zone, covering a strike length of 4.4 kilometers, have been identified at the Company’s Singida gold project, Tanzania. This is the result of a detailed compilation of all exploration data to date, including the most recent soil sampling and mapping programs. There are 76 reverse circulation (RC) drill holes currently planned totalling nearly 5,000 meters to test these targets. Excavation at drill site locations has commenced and will be followed up shortly with road construction to prepare for drilling that is planned for the latter part of August.
During June, a soil sampling survey was completed across the Singida-Londoni license area in which 483 samples, including 24 quality control blank samples, were collected and submitted to SGS Laboratory, Mwanza for gold and arsenic determination by Aqua Regia. Samples were collected on 400m spaced north-south grid lines at an interval of 50m and at a depth of 30cm. Additional detailed mapping of the geology and location of the artisanal working was also carried out.
The soil sample results, besides indicating areas of known artisanal mining, have formed broad, gold-in-soil anomalies. These gold anomalies are occurring over the areas from which previous electrically induced polarization (IP) geophysical profiling has identified a number of underground resistive bodies, believed to represent gold-bearing quartz veins beneath the surface, as reported in the Company’s Press Release of 17th May 2010. The five gold targets, referred to as Sambaru 1 to 5 have surface strike lengths varying between 200 to 600 meters. In addition to assaying for gold, all of the soil samples were tested for arsenic. Arsenic in soil samples can often be a “pathfinder” element for gold when gold itself is not measurably present at surface. In addition to identifying the five targets, the compiled assay results have defined a large arsenic anomaly that is located within the central to north-western part of the license area and encompasses the Sambaru 4 target, decreasing in intensity towards Sambaru 5 in the northwest corner of the license. Noteworthy is that four IP profile lines, undertaken across the recently identified arsenic anomaly, have indicated at least 8 sub-surface, resistive bodies, thought to be gold-bearing quartz veins, across a surface width of 350 meters.
Mapping of the location of the artisanal shafts within these target areas suggest that mining was undertaken on a number of narrow sub-outcropping gold veins across a surface width of up to 50 meters. However, IP geophysical profiling suggests that these veins may extend further to the northeast beneath the surface cover.
Concurrently an IP gradient survey and a trenching programme have been undertaken at the Company’s Kinyambwiga gold project, on the eastern side of Lake Victoria. Exploration programmes, including soil geochemistry and ground magnetic surveys, are scheduled to begin on a number of the Company’s other gold licenses within the Lake Victoria gold belt to advance our projects systematically.
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. Lake Victoria holds eleven prospective gold projects and five uranium projects within its Tanzania property portfolio. Additional information regarding the Company is available on the corporate website at: http://www.lakevictoriaminingcompany.com or by contacting:
Lake Victoria Mining Company, Inc.
Dr. Roger A. Newell
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 any other conditions that may arise.
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