# Approximately 500,000 Ounces Was Just Put On the Map Next Door to Bulyanhulu Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/approximately-500-000-ounces-was-just-put-on-the-map-next-door-to-bulyanhulu--d83975e2-772e-4eb9-989f-6dec8970e07e Original source: https://money.tmx.com/en/quote/LVG/news/6083586624251867/approximately-500-000-ounces-was-just-put-on-the-map-next-door-to-bulyanhulu Publisher: tmx Original announcement: 2026-08-11T17:41:46.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Lake Victoria Gold Ltd. - Ticker: LVG - Exchange: TSX - Region: Tanzania - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-08-21 22:23:08 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Lake Victoria Gold Ltd. has published a maiden NI 43-101 Mineral Resource Estimate for the Tembo Gold Project in Tanzania, totaling approximately 580,000 ounces of gold. The resource consists of 480,100 Inferred ounces at 1.12 g/t and 99,700 Indicated ounces at 1.16 g/t, with a notable higher-grade core identified through grade-tonnage sensitivity analysis. Reasoning: The publication of a maiden MRE for the Tembo Gold Project transforms the asset from a collection of drill intercepts into a regulatory-standard resource, providing a foundation for development. - Positive factor: Maiden NI 43-101 MRE establishes a defined resource baseline - Positive factor: Strong grade-tonnage sensitivity indicating a robust higher-grade core - Positive factor: Strategic location adjacent to Barrick's Bulyanhulu Mine - Positive factor: Clear development pathway via Ngula 1 and potential toll-milling arrangement - Negative factor: Resource is predominantly Inferred \(82% Inferred\) - Negative factor: Significant exploration upside remains untested \(36 targets\) Facts used in scoring: 4 ## Classification and evidence **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: First formal MRE for the Tembo Gold Project. Evidence · text > A maiden NI 43-101 Mineral Resource Estimate **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A large portion of the resource \(480,100 oz\) is in the speculative Inferred category. Evidence · text > 480,100 Inferred ounces **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Resource prepared by independent Qualified Persons Noleen D. Pauls and Dean Richards of Obsidian Consulting Services. Evidence · text > prepared by independent Qualified Persons Noleen D. Pauls and Dean Richards **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource was reported at a 0.25 g/t gold cut-off. Evidence · text > all within conceptual open-pit shells at a 0.25 g/t cut-off **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The release explicitly states it is a maiden NI 43-101 Mineral Resource Estimate. Evidence · text > maiden NI 43-101 Mineral Resource Estimate ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/approximately-500-000-ounces-was-just-put-on-the-map-next-door-to-bulyanhulu--d83975e2-772e-4eb9-989f-6dec8970e07e#fact-resource-facts-0) gold #### Identity - Commodity: gold - Ticker: LVG #### Resource Data - Category: inferred - Tonnes: 13330000 - Grade: 1.12 - Grade Unit: g/t - Contained Metal: 480100 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-11T00:00:00.000Z Reasoning: Large inferred resource component provides significant scale but lacks geological confidence. - Positive factor: Large tonnage base - Negative factor: Speculative category Evidence · text > Inferred Mineral Resource of 13.33 million tonnes at 1.12 g/t gold containing 480,100 ounces ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/approximately-500-000-ounces-was-just-put-on-the-map-next-door-to-bulyanhulu--d83975e2-772e-4eb9-989f-6dec8970e07e#fact-resource-facts-1) gold #### Identity - Commodity: gold - Ticker: LVG #### Resource Data - Category: indicated - Tonnes: 2690000 - Grade: 1.16 - Grade Unit: g/t - Contained Metal: 99700 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-11T00:00:00.000Z Reasoning: Indicated resource provides a solid foundation for probable reserves. - Positive factor: Higher confidence category Evidence · text > Indicated Mineral Resource of 2.69 million tonnes at 1.16 g/t gold containing 99,700 ounces ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/approximately-500-000-ounces-was-just-put-on-the-map-next-door-to-bulyanhulu--d83975e2-772e-4eb9-989f-6dec8970e07e#fact-resource-facts-2) gold #### Identity - Commodity: gold - Ticker: LVG #### Resource Data - Category: inferred - Tonnes: 8120000 - Grade: 1.03 - Grade Unit: g/t - Contained Metal: 267900 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-11T00:00:00.000Z Reasoning: Ngula 1 hosts the majority of the project's inferred ounces. - Positive factor: Primary focus for development Evidence · text > Ngula 1 hosts an Inferred Mineral Resource of 8.12 Mt at 1.03 g/t for 267,900 ounces ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/approximately-500-000-ounces-was-just-put-on-the-map-next-door-to-bulyanhulu--d83975e2-772e-4eb9-989f-6dec8970e07e#fact-resource-facts-3) gold #### Identity - Commodity: gold - Ticker: LVG #### Resource Data - Category: indicated - Tonnes: 1780000 - Grade: 1.1 - Grade Unit: g/t - Contained Metal: 62700 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-11T00:00:00.000Z Reasoning: Indicated resource at Ngula 1 supports near-term mine planning. - Positive factor: Concentration of indicated ounces Evidence · text > and an Indicated Mineral Resource of 1.78 Mt at 1.10 g/t for 62,700 ounces ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.