Lake Victoria Gold Reports High-Grade Artisanal Sampling Results (Up to 35.45 g/t Au) and Advances Development Planning at Tembo

Core Insights - Lake Victoria Gold Ltd. (LVG) has reported high-grade gold values from a recent grab sampling program at its Tembo Project in Tanzania, with samples returning values up to 35.45 g/t Au [1][11] - The sampling program aims to assess gold mineralization in active artisanal mining areas and refine drill targeting for an upcoming drilling program scheduled for Q1 2026 [2][7] Sampling Program Details - Eight active artisanal mining locations were sampled, with notable results indicating high-grade mineralization associated with smokey-grey quartz veins in sheared basalts [3][4] - Three priority drill targets have been identified based on the sampling results, which have not received sufficient drill coverage in the past [3][5] Geological Observations - Mineralization is consistently linked to structural trends in the area, including northeast, northwest, and east-west orientations, which align with the company's geological interpretations [3][4] - The artisanal workings are covered by 4-10 meters of transported alluvium and are associated with linear magnetic anomalies [4] Exploration and Development Strategy - LVG plans to conduct a close-spaced drilling program at Ngula 1, targeting a strike length of 300-400 meters, which has shown consistently high-grade results in historical drilling [5][8] - The company is in advanced discussions with Nyati Resources regarding potential gold processing arrangements, aiming to utilize a 500 tonne-per-day carbon-in-pulp processing plant [6][7] Upcoming Plans - The planned drilling program is expected to commence in Q1 2026, with a focus on defining resources at Ngula 1 and finalizing a processing agreement [7][8] - The company aims to establish a toll-processing arrangement with Nyati to support near-term production from the Tembo Project [7][8] Sample Results - Significant grab sample results include: - Ngula 1: up to 35.45 g/t Au and 12.94 g/t Au [11] - Ngula 2: 35.21 g/t Au, 10.27 g/t Au, and 10.30 g/t Au [11] - Mgusu Target: 5.90 g/t Au, indicating a new priority target [11] - Newly identified artisanal workings at Nyangomango: 7.86 g/t Au and 8.50 g/t Au [11] - Renewed activity at Nyakagwe East: 22.68 g/t Au and 3.16 g/t Au [11]