Lake Victoria Gold Extends Mineralization Below Pit Shell at Imwelo; First Results Confirm Continuity to >250 m Depth

Core Insights - Lake Victoria Gold Ltd. has reported positive initial results from its ongoing 4,000 m drill program at the Imwelo Gold Project, confirming mineralization continuity to over 250 m depth [1][4][10] - The results indicate potential for extending the open-pit shell and evaluating future underground options beyond the planned shallow open-pit operation [5][7][10] Drilling Program Details - The drilling program utilizes a combination of reverse-circulation pre-collars and diamond-core tails, aimed at reducing costs and cycle time while ensuring high-quality geological data [2] - Five out of the planned twenty-four drill holes have been completed, with assay results received from the MSA Laboratory in Geita [5][10] Assay Results Highlights - The first five holes show consistent grades and widths comparable to the existing resource, confirming the depth extension of mineralization [4][7] - Additional mineralization has been identified in both the footwall and hanging wall, indicating potential for future resource expansion [4][7] Management Commentary - The President & CEO expressed optimism regarding the results, noting that mineralization continues beyond the current pit design and that additional lodes are emerging [10][11] - The Exploration Manager highlighted strong geological indicators aligning with expectations, including quartz veining and structural continuity [10] Future Objectives - The program aims to support continuous updates with additional assays pending from ongoing drilling [12] - Objectives include refining final pit design, improving resource confidence, and testing down-dip extensions to enhance resource estimates [19]