Lake Victoria Gold Announces Maiden Mineral Resource at Tembo of 480,100 Inferred and 99,700 Indicated Ounces, Adjacent to Barrick's Bulyanhulu Mine
Original announcement by tmx on
- Company
- Lake Victoria Gold Ltd.
- Ticker
- LVG
- Exchange
- TSX
- Region
- northwestern Tanzania
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-08-24 04:33:52 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Lake Victoria Gold has announced a maiden NI 43-101 compliant Mineral Resource Estimate for its Tembo Gold Project in Tanzania, totaling 99,700 Indicated ounces and 480,100 Inferred ounces of gold at a 0.25 g/t cut-off. The estimate includes a higher-grade component of 68,600 Indicated ounces at 2.00 g/t and 331,700 Inferred ounces at 2.15 g/t at a 1.00 g/t cut-off. The company plans close-spaced drilling at Ngula 1 to improve confidence and support future mine planning, with the project positioned adjacent to Barrick's Bulyanhulu Mine.
Reasoning: The announcement details a maiden NI 43-101 compliant Mineral Resource Estimate for the Tembo Gold Project, establishing a significant gold resource with a higher-grade core, but a substantial portion remains in the Inferred category and the overall contained metal is on the lower end of the scale.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- higher_grade_component
- adjacent_to_major_mine
- clear_pathway_for_resource_conversion
Negative factors
- high_inferred_proportion
- no_demonstrated_economic_viability
Rubric flags
- M&I confidence tiers — M&I percentage (17.19%) is below the weak threshold (>=25%), indicating low geological confidence.
Facts used in scoring: 11
Classification and evidence
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: This is the first formal Mineral Resource Estimate for the Tembo Gold Project.
Evidence · text
“Maiden Mineral Resource”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Mineral Resource Estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“National Instrument 43-101 ("NI 43-101") Mineral Resource Estimate ("MRE")”
QP/CP Signedpositive
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: The Technical Report was prepared by independent Qualified Persons Noleen D. Pauls and Dean Richards, and reviewed/approved by David Scott, a Qualified Person.
Evidence · text
“independent Qualified Persons Noleen D. Pauls (M.Sc., Pr. Sci. Nat., FGSSA) and Dean Richards (B.Sc. (Hons), Pr. Sci. Nat., MGSSA) of Obsidian Consulting Services, each a Qualified Person as defined under NI 43-101 and independent of the Company. The scientific and technical information in this news release has been reviewed and approved by David Scott, Pr. Sci. Nat., who is a Qualified Person as defined by National Instrument 43-101”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The Mineral Resource is reported at a cut-off grade of 0.25 g/t Au, and sensitivity figures are provided for 1.00 g/t and 1.50 g/t cut-offs.
Evidence · text
“Mineral Resources are reported at a cut-off grade of 0.25 g/t Au”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the maiden resource is classified as Inferred, which is a lower confidence category.
Evidence · text
“480,100 Inferred”
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The company states that no preliminary economic assessment, pre-feasibility study or feasibility study has been completed, indicating the MRE is a step towards such studies.
Evidence · text
“The Company has not completed a preliminary economic assessment, pre-feasibility study or feasibility study for the Tembo Project, no Mineral Reserves have been estimated and Mineral Resources do not have demonstrated economic viability.”
Adjacent to Major Minepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The Tembo Gold Project is located immediately adjacent to Barrick's Bulyanhulu Mine, suggesting potential for shared geological characteristics and infrastructure.
Evidence · text
“immediately adjacent to Barrick's Bulyanhulu Mine”
Extracted facts
Stored fact records: 11. Some facts used in scoring do not have a stored record.
Resource Estimates (11)
indicatedTembo Gold Project · goldTonnes: 1780000Grade: 1.1Grade Unit: g/tContained Metal: 62700Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- indicated
- Tonnes
- 1780000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 62700
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Maiden Indicated Mineral Resource for Ngula 1 at Tembo Gold Project, reported under NI 43-101 with a 0.25 g/t Au cut-off.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
Evidence · table
“1.10”
Context: 1.78
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: Resource classified as Indicated, demonstrating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 1.78
indicatedTembo Gold Project · goldTonnes: 910000Grade: 1.27Grade Unit: g/tContained Metal: 37000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- indicated
- Tonnes
- 910000
- Grade
- 1.27
- Grade Unit
- g/t
- Contained Metal
- 37000
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Maiden Indicated Mineral Resource for Nyakagwe Village at Tembo Gold Project, reported under NI 43-101 with a 0.25 g/t Au cut-off.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
Evidence · table
“1.27”
Context: 0.91
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: Resource classified as Indicated, demonstrating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 0.91
indicatedTembo Gold Project · goldTonnes: 2690000Grade: 1.16Grade Unit: g/tContained Metal: 99700Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- indicated
- Tonnes
- 2690000
- Grade
- 1.16
- Grade Unit
- g/t
- Contained Metal
- 99700
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Total maiden Indicated Mineral Resource for Tembo Gold Project, reported under NI 43-101 with a 0.25 g/t Au cut-off.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
Evidence · table
“1.16”
Context: 2.69
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: Resource classified as Indicated, demonstrating reasonable geological confidence.
Evidence · table
“Total Indicated”
Context: 2.69
inferredTembo Gold Project · goldTonnes: 8120000Grade: 1.03Grade Unit: g/tContained Metal: 267900Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- inferred
- Tonnes
- 8120000
- Grade
- 1.03
- Grade Unit
- g/t
- Contained Metal
- 267900
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Maiden Inferred Mineral Resource for Ngula 1 at Tembo Gold Project, reported under NI 43-101 with a 0.25 g/t Au cut-off.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
Negative factors
- inferred_category_lower_confidence
Evidence · table
“1.03”
Context: 8.12
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Resource classified as Inferred, representing a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 8.12
inferredTembo Gold Project · goldTonnes: 4710000Grade: 1.3Grade Unit: g/tContained Metal: 197100Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- inferred
- Tonnes
- 4710000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 197100
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Maiden Inferred Mineral Resource for Nyakagwe Village at Tembo Gold Project, reported under NI 43-101 with a 0.25 g/t Au cut-off.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
Negative factors
- inferred_category_lower_confidence
Evidence · table
“1.30”
Context: 4.71
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Resource classified as Inferred, representing a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 4.71
inferredTembo Gold Project · goldTonnes: 510000Grade: 0.93Grade Unit: g/tContained Metal: 15200Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- inferred
- Tonnes
- 510000
- Grade
- 0.93
- Grade Unit
- g/t
- Contained Metal
- 15200
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Maiden Inferred Mineral Resource for Nyakagwe East at Tembo Gold Project, reported under NI 43-101 with a 0.25 g/t Au cut-off.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
Negative factors
- inferred_category_lower_confidence
Evidence · table
“0.93”
Context: 0.51
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Resource classified as Inferred, representing a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 0.51
inferredTembo Gold Project · goldTonnes: 13330000Grade: 1.12Grade Unit: g/tContained Metal: 480100Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- inferred
- Tonnes
- 13330000
- Grade
- 1.12
- Grade Unit
- g/t
- Contained Metal
- 480100
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Total maiden Inferred Mineral Resource for Tembo Gold Project, reported under NI 43-101 with a 0.25 g/t Au cut-off.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
Negative factors
- inferred_category_lower_confidence
Evidence · table
“1.12”
Context: 13.33
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Resource classified as Inferred, representing a lower level of geological confidence.
Evidence · table
“Total Inferred”
Context: 13.33
indicatedTembo Gold Project · goldTonnes: 1070000Grade: 2Grade Unit: g/tContained Metal: 68600Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- indicated
- Tonnes
- 1070000
- Grade
- 2
- Grade Unit
- g/t
- Contained Metal
- 68600
- Contained Unit
- oz
- Cutoff Grade
- 1
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Higher-grade component of the maiden Indicated Mineral Resource for Tembo Gold Project at a 1.00 g/t Au cut-off, reported under NI 43-101.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
- higher_grade_component
Evidence · text
“Indicated Mineral Resource of 1.07 Mt at 2.00 g/t gold containing 68,600 ounces”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: Resource classified as Indicated, demonstrating reasonable geological confidence.
Evidence · text
“Indicated Mineral Resource”
inferredTembo Gold Project · goldTonnes: 4790000Grade: 2.15Grade Unit: g/tContained Metal: 331700Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- inferred
- Tonnes
- 4790000
- Grade
- 2.15
- Grade Unit
- g/t
- Contained Metal
- 331700
- Contained Unit
- oz
- Cutoff Grade
- 1
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Higher-grade component of the maiden Inferred Mineral Resource for Tembo Gold Project at a 1.00 g/t Au cut-off, reported under NI 43-101.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
- higher_grade_component
Negative factors
- inferred_category_lower_confidence
Evidence · text
“Inferred Mineral Resource of 4.79 Mt at 2.15 g/t gold containing 331,700 ounces”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Resource classified as Inferred, representing a lower level of geological confidence.
Evidence · text
“Inferred Mineral Resource”
indicatedTembo Gold Project · goldTonnes: 560000Grade: 2.68Grade Unit: g/tContained Metal: 48500Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- indicated
- Tonnes
- 560000
- Grade
- 2.68
- Grade Unit
- g/t
- Contained Metal
- 48500
- Contained Unit
- oz
- Cutoff Grade
- 1.5
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Higher-grade component of the maiden Indicated Mineral Resource for Tembo Gold Project at a 1.50 g/t Au cut-off, reported under NI 43-101.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
- higher_grade_component
Evidence · text
“0.56 Mt at 2.68 g/t for 48,500 Indicated ounces”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: Resource classified as Indicated, demonstrating reasonable geological confidence.
Evidence · text
“Indicated ounces”
inferredTembo Gold Project · goldTonnes: 2270000Grade: 3.18Grade Unit: g/tContained Metal: 232100Contained Unit: ozView all detailsHide details
Identity
- Project
- Tembo Gold Project
- Commodity
- gold
- Region
- tanzania
- Reported Region
- northwestern Tanzania
- Ticker
- LVG
Resource Data
- Category
- inferred
- Tonnes
- 2270000
- Grade
- 3.18
- Grade Unit
- g/t
- Contained Metal
- 232100
- Contained Unit
- oz
- Cutoff Grade
- 1.5
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-11T00:00:00.000Z
Reasoning: Higher-grade component of the maiden Inferred Mineral Resource for Tembo Gold Project at a 1.50 g/t Au cut-off, reported under NI 43-101.
Positive factors
- maiden_resource
- ni_43_101_compliant
- qp_signed
- cut_off_disclosed
- orogenic_deposit_type
- open_pit_potential
- higher_grade_component
Negative factors
- inferred_category_lower_confidence
Evidence · text
“2.27 Mt at 3.18 g/t for 232,100 Inferred ounces”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Resource classified as Inferred, representing a lower level of geological confidence.
Evidence · text
“Inferred 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.