(LVCA:OTCBB) - Lake Victoria Mining Company, Inc. (the “Company”) is pleased to announce the positive results of the reverse circulation drill program recently completed on its Uyowa gold project in Tanzania. Notable results received to date include: 17.6 g/t over 6 meters, 7.95 g/t Au over 9 meters, 4.1 g/t over 10 meters, 4.06 g/t Au over 13 meters and 10.41 g/t over 3 meters inclusive of a number of significant 1 meter intervals of 103 g/t Au, 33 g/t Au and 24 g/t Au respectively. The Uyowa project is located about 240 kilometers directly southwest of Mwanza.
Dr. Roger Newell, Chairman of Lake Victoria said “this first round of drilling has returned extremely encouraging results as well as demonstrating that higher grade gold zones of economic mining widths are present within the known mineralized trend. Furthermore, ground geophysics is providing the necessary back-up to define additional targets in which to focus our exploration efforts to discover additional gold occurrences within this prospective district.”
A total of 29 reverse circulation boreholes amounting to 2,470 meters was undertaken across the site of artisanal workings and environs in the northern block of the Uyowa Prospect. Drilling was aimed at testing the strike extensions of the known mineralized gold zone beneath an area of intense artisanal activity as well as to test a number of geophysical targets that have been defined from the recent ground magnetometer and IP Schlumberger surveys. Unlike the central and eastern part of the Prospect, which is represented by a single mineralized structure, the western part is comprised of at least 4 mineralized veins that generally, not only have increased widths, but, from the assay results received to date, also reflect substantially higher gold grades, across a strike length of some 300 meters (Refer Table 1).
Table 1: Summary of Uyowa Reverse Circulation Drill Results
|(Including 24.65 g/t over 2 meters)|
|(including 33.3 g/t Au over 1 meters)|
|(including 103g/t over 1 meter)|
|(including 24.8 g/t over 1 meter)|
| *lateritic duricrust
Boreholes URC013 to URC018 were drilled in the western part of the prospect.
1 troy oz of gold = 31.103 gm of gold or 1 gm=0.03215 oz gold; i.e.: 17.6 g/t Au=0.56584 oz/t of gold