LAKOTA RESOURCES INC Toronto, Ontario / ACCESSWIRE / August 28, 2014 / Tembo Gold Corp. (TSX-V: TEM; FRANKFURT: T23) ("Tembo" or the "Company) is pleased to announce further results from the 2014 drilling program at the Nyakagwe Village target on the Tembo Project in the Lake Victoria goldfield of Tanzania.
NYAKAGWE VILLAGE HIGHLIGHTS INCLUDE:
-TDD0111: 35.14g/t Au over 2.45m including 167g/t Au over 0.50m from 53.35m. This drill hole intersected 100m east of TDD0107 and 100m west of TDD0071; and
-TDD0115: 2.74g/t Au over 8.50m from 53.00m including 7.73g/t Au over 1.00m, 3.43g/t over 1.40m and 4.04g/t over 2.00m; and 2.04g/t Au over 9.00m from 69.00m including 2.89m over 4.80m.
David Scott President & CEO stated, "The 2014 drilling program has once again returned promising results that confirm the potential for wide low-grade near-surface mineralization and narrow high-grade mineralization, and has further demonstrated the extensive hidden potential of the project in the numerous unexploited untested magnetic lineaments that are potential hosts to gold mineralization".
Nyakagwe Village
The potential of the Nyakagwe Village target was initially indicated by a new artisanal mining operation that commenced in 2011 located immediately to the east of the village in a corn land. These workings exploit a previously unknown east-west-trending set of south dipping quartz veins. Within a year a large number of shafts were sunk by the miners to access these high-grade shear-hosted veins. Subsequently a large open pit was excavated to facilitate easier and deeper access. Mining has recently been stopped due to excessive water ingress and rock hardness at depths thought to be close to 50m.
Initial drilling beneath these workings in 2012 returned two significant intersections in TDD0107: 16.58g/t Au over 3.55m from 43.88m and 27.88g/t Au over 3.00m from 65.90m (previously announced Sept 11, 2012). Follow-up drilling at the time, and the 2014-drilling program has aimed to intersect these veins at depth and along strike to the east. The 2014 results have included: TDD0071: 9.64g/t Au over 3.95m from 85.25m, including 24.72g/t Au over 1.45m; TDD0103: 15.10g/t Au over 1.00m from 54.00m; and TDD0112: 3.49g/t over 4.98m from 65.12m (previously announced May 21, 2014), and these latest results.
The final results from the Nyakagwe Village target-drilling program:
-Confirmed the discovery of a previously unknown and concealed northeast-striking structure which is well-mineralized;
-Confirmed the high-grade extension of the previously drilled east-west trending structure 100m to the east;
-Returned results from the last drill holes that included TDD0115 with 2.74g/t Au over 8.50m from 58.40m and 2.04g/t Au over 9.00m from 69.00m, and TDD0111 with 35.14g/t Au over 2.45m from 53.35m (Table 1), all using a 0.5 g/t Au cut-off.
-Taking a 0.2 g/t Au cut-off, TDD0115 intersected 26.5m at 1.62g/t Au, highlighting the importance of intersecting northeast- and east-west-trending structures in generating wider zones of lower-grade but still significant mineralization.
TDD0115 targeted the southwest extension of the newly discovered northeast trending mineralized structure intersected in TDD0071. The drill hole intersected a wide zone of mineralization. It is interpreted from oriented core structural analysis that TDD0071 and TDD0115 have drilled through mineralization associated with the intersection of two east west-striking structures and a northeast structure all clearly evident on the airborne magnetics interpretation (Figure 1). It is apparent from the airborne magnetic lineament interpretation that there are a number of east-west and northeast-striking lineaments throughout the Nyakagwe Village and adjacent areas and the potential exists for similar mineralization to be developed along these and particularly close to the intersection zones. The northeast structure drilled in this program has a positive linear magnetic signature extending 1.8km to the northeast.
The drilling results to date have intersected mineralization along a strike length of 400m on the east west structure and of 200m on the northeast structure, with both open-ended along strike and down dip. All drill holes at Nyakagwe Village targeting both sets of structures have consistently intersected well-developed structures hosting mineralization at the targeted depths.
Figure 1. Nyakagwe Village Target Drill Results
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Table 1. Nyakagwe Village Drilling Results 2014
-------------------------------------------------------------- |Nyakagwe | | | |>0.50g/t | >2.00g/t | |Village | | | | | | |------------------------------------------------------------| |BH ID |From |To |Width|Au |Width|Au |Width|Au | | | | |(m) |g/t |(m) |g/t |(m) |g/t | |------------------------------------------------------------| |TDD0071|60 |61 |1.00 |1.31 |1.00 |1.31 | | | |------------------------------------------------------------| | |85.25 |85.85 |0.60 |4.58 | | | | | |------------------------------------------------------------| | |85.85 |86.40 |0.55 |53.30 | | | | | |------------------------------------------------------------| | |86.40 |86.70 |0.30 |12.60 | | | 1.45| 24.72| |------------------------------------------------------------| | |86.70 |87.20 |0.50 |0.30 | | | | | |------------------------------------------------------------| | |87.20 |87.70 |0.50 |0.15 | | | | | |------------------------------------------------------------| | |87.70 |88.20 |0.50 |0.04 | | | | | |------------------------------------------------------------| | |88.20 |88.70 |0.50 |0.45 | | | | | |------------------------------------------------------------| | |88.70 |89.20 |0.50 |3.52 |3.95 |9.64 | 0.50| 3.52 | |------------------------------------------------------------| |TDD0103|54.00 |55.00 |1.00 |15.10 | | | 1.00| 15.10| |------------------------------------------------------------| | |71.00 |72.00 |1.00 |1.87 |1.00 |1.87 | | | |------------------------------------------------------------| | |100.00|101.00|1.00 |0.94 | | | | | |------------------------------------------------------------| | |101.00|101.70|0.70 |0.03 | | | | | |------------------------------------------------------------| | |101.70|102.00|0.30 |0.68 |2.00 |0.58 | | | |------------------------------------------------------------| |TDD0105|71.00 |71.90 |0.90 |1.43 |0.90 |1.43 | | | |------------------------------------------------------------| | |91.40 |92.00 |0.60 |0.58 | | | | | |------------------------------------------------------------| | |92.00 |92.65 |0.65 |1.10 | | | | | |------------------------------------------------------------| | |92.65 |93.50 |0.85 |0.53 |2.10 |0.72 | | | |------------------------------------------------------------| |TDD0108|No | | | | | | | | |significant | | | | | | | | |results | | | | | | | |------------------------------------------------------------| |TDD0109|54.35 |54.65 |0.30 |6.08 | | | 0.30| 6.08 | |------------------------------------------------------------| | |54.65 |55.65 |1.00 |1.06 | | | | | |------------------------------------------------------------| | |55.65 |56.00 |0.35 |1.42 |1.65 |2.05 | | | |------------------------------------------------------------| | |108.8 |109.3 |0.50 |0.68 |0.50 |0.68 | | | |------------------------------------------------------------| | |112.9 |113.43|0.53 |1.77 |0.53 |1.77 | | | |------------------------------------------------------------| | |115.55|115.95|0.40 |1.61 | | | 0.73| 2.21 | |------------------------------------------------------------| | |115.95|116.68|0.73 |2.21 |1.13 |2.00 | | | |------------------------------------------------------------| | |121.82|122.50|0.68 |3.12 | | | | | |------------------------------------------------------------| | |122.50|123.27|0.77 |2.49 | | | | | |------------------------------------------------------------| | |123.27|123.77|0.50 |4.25 | | | 1.95| 3.16 | |------------------------------------------------------------| | |123.77|124.30|0.53 |1.30 | | | | | |------------------------------------------------------------| | |124.30|125.30|1.00 |1.48 |3.48 |2.39 | | | |------------------------------------------------------------| |TDD0111|53.35 |54.3 |0.95 |1.56 | | | | | |------------------------------------------------------------| | |54.30 |54.8 |0.50 |167.00| | | 0.50|167.00| |------------------------------------------------------------| | |54.80 |55.8 |1.00 |1.12 |2.45 | 35.14| | | |------------------------------------------------------------| |TDD0112|64.12 |65.12 |1.00 |2.61 | | | | | |------------------------------------------------------------| | |65.12 |66.1 |0.98 |6.52 | | | | | |------------------------------------------------------------| | |66.10 |67.10 |1.00 |2.78 | | | | | |------------------------------------------------------------| | |67.10 |68.10 |1.00 |1.59 | | | | | |------------------------------------------------------------| | |68.10 |69.10 |1.00 |4.96 | | | | | |------------------------------------------------------------| | |69.10 |70.10 |1.00 |1.68 | | | 5.98| 3.35 | |------------------------------------------------------------| | |72.00 |73.00 |1.00 |2.19 | | | | | |------------------------------------------------------------| | |73.00 |74.00 |1.00 |3.68 | | | 2.00| 2.94 | |------------------------------------------------------------| |TDD0116|79.00 |79.70 |0.70 |0.90 |0.70 |0.90 | | | |------------------------------------------------------------| |TDD0115|33.00 |34.00 |1.00 |2.25 | | | | | |------------------------------------------------------------| | |34.00 |34.70 |0.70 |2.64 | | | 1.70| 2.41 | |------------------------------------------------------------| | |35.70 |36.70 |1.00 |1.02 |1.00 |1.02 | | | |------------------------------------------------------------| | |53.00 |53.50 |0.50 |0.51 | | | | | |------------------------------------------------------------| | |53.50 |54.00 |0.50 |11.8 | | | | | |------------------------------------------------------------| | |54.00 |54.50 |0.50 |3.66 | | | 1.00| 7.73 | |------------------------------------------------------------| | |54.50 |55.00 |0.50 |0.07 | | | | | |------------------------------------------------------------| | |55.00 |56.00 |1.00 |0.26 | | | | | |------------------------------------------------------------| | |56.00 |56.60 |0.60 |0.73 | | | | | |------------------------------------------------------------| | |56.60 |57.00 |0.40 |1.81 | | | | | |------------------------------------------------------------| | |57.00 |57.30 |0.30 |3.65 | | | | | |------------------------------------------------------------| | |57.30 |58.05 |0.75 |3.57 | | | | | |------------------------------------------------------------| | |58.05 |58.40 |0.35 |2.95 | | | 1.40| 3.43 | |------------------------------------------------------------| | |58.40 |59.00 |0.60 |0.56 | | | | | |------------------------------------------------------------| | |59.00 |60.00 |1.00 |4.01 | | | | | |------------------------------------------------------------| | |60.00 |60.50 |0.50 |5.16 | | | | | |------------------------------------------------------------| | |60.50 |61.00 |0.50 |2.96 | | | 2.00| 4.04 | |------------------------------------------------------------| | |61.00 |61.50 |0.50 |1.34 |8.50 |2.74 | | | |------------------------------------------------------------| | |69.00 |70.00 |1.00 |1.27 | | | | | |------------------------------------------------------------| | |70.00 |71.00 |1.00 |2.08 | | | 1.00| 2.08 | |------------------------------------------------------------| | |71.00 |71.55 |0.55 |0.95 | | | | | |------------------------------------------------------------| | |71.55 |72.10 |0.55 |0.14 | | | | | |------------------------------------------------------------| | |72.10 |72.80 |0.70 |0.39 | | | | | |------------------------------------------------------------| | |72.80 |73.20 |0.40 |0.65 | | | | | |------------------------------------------------------------| | |73.20 |74.00 |0.80 |2.21 | | | | | |------------------------------------------------------------| | |74.00 |75.00 |1.00 |2.00 | | | | | |------------------------------------------------------------| | |75.00 |76.00 |1.00 |4.70 | | | | | |------------------------------------------------------------| | |76.00 |77.00 |1.00 |3.18 | | | | | |------------------------------------------------------------| | |77.00 |78.00 |1.00 |2.23 |9.00 |2.04 | 4.80| 2.89 | --------------------------------------------------------------
Notes to the above table:
1.Widths represent drill intersection widths not corrected for drill hole inclination and dip of the geological zone. True widths have not been determined.
2.Drill holes have not been drilled in numerical sequence and not all drill holes in a sequence have necessarily been drilled. Drill hole numbers represent the original drill hole identification assigned when planned.
3.No capping of high-grade values has been applied to the assay results.
QA/QC
A stringent QA/QC practice is being applied to all sample batches. A Verified Reference Material standard is inserted every 20th sample, a known blank or blank standard every 20th sample and all samples with assays greater than 0.5 g/t Au are re-assayed. 1% of all samples are submitted to an alternative laboratory for check analysis. In addition the laboratory adheres to an internal QA/QC procedure including standard samples and repeats and blanks inserted independently.
The above information has been prepared under the supervision of David Scott, Pr. Sci. Nat., who is designated as a "Qualified Person" with the ability and authority to verify the authenticity and validity of the data.
For more information please contact:
Marc Cernovitch Director David Scott President and CEO
Phone: 1 416.619.9010 Phone: 255.767.366.146
Email: mcernovitch@tembogold.com Email: dscott@tembogold.com
Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of the use of the net proceeds from the Private Placement, the completion and timing of additional closings of the Non-Brokered Private Placement, the payment of certain finders' fees and the listing of the Common Shares on the TSXV. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, among other things, the ability to develop the Company's properties, the economic climate in the jurisdictions where the Company carries on operations and commodity prices. Although the Company believes that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, a significant drop in the price of gold, political turmoil in Tanzania and other risk factors set forth in the Company's continuous disclosure. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
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SOURCE: Tembo Gold Corp.
