Lake Victoria Mining Company, Inc.: Kalemela Gold Project Continues to Advance Based on Encouraging Soil Assays, Tanzania
05 November 2008 - 8:05AM
Marketwired
Lake Victoria Mining Company, Inc. (OTCBB: LVCA) has received
additional encouraging assay results from soil samples collected at
the Kalemela gold project, about 125 kilometers east of Mwanza in
northern Tanzania.
Roger Newell stated that "these are the kind of gold-in-soil
assays that encourage us to take the next exploration steps towards
defining a mineable deposit. Tanzania provides a friendly business
environment for gold exploration and mining activities, while
permitting and mining regulations are carefully designed to protect
the environment while allowing for rapid project development."
Preliminary results from over one-thousand-five hundred soil
samples continue to define earlier reports of anomalous gold within
the approximately 70.7 square kilometer Kalemela exploration
license. As previously reported, the anomalous area covers about 2
km X 6 km, recent assays from soil samples have values that contain
up to 1.6 grams/metric ton of gold. These preliminary results will
be verified by re-assaying the initial samples and by collecting
additional samples from the anomalous locations.
In addition to the assay results, a detailed ground magnetic
survey has just been completed that will define geological controls
for the high gold values. Early results from the magnetic survey
indicate that northeast trending fault and shear zone directions
intersect with northwest trending structures in the higher gold
area. Zones of intersecting geological features can form ideal
locations for the formation of a significant gold deposit.
Additional data processing of the magnetic results is underway to
further define locations for test pits and trenches.
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 Mining Company, Inc.
currently holds an eighty percent ownership interest in the
Kalemela Gold Project along with Geo Can Resources Company Limited
(Tanzania) a subsidiary of Kilimanjaro Mining Company, Inc. of
Nevada. www.kilimanjarominingcompany.com.
Additional information regarding the company is available on the
corporate website at: www.lakevictoriaminingcompany.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.
Contacts: Lake Victoria Mining Company, Inc. Dr. Roger Newell
(303) 586-1390 Email: info@lvcamining.com Website:
www.lakevictoriaminingcompany.com
Victoria Lake (CE) (USOTC:LVCA)
Historical Stock Chart
From Sep 2024 to Oct 2024
Victoria Lake (CE) (USOTC:LVCA)
Historical Stock Chart
From Oct 2023 to Oct 2024