TORONTO, ONTARIO
-- (MARKET WIRE)
-- 06/07/12
Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) ("Tembo", or the "Company ) is pleased to report additional results from its 2012 definition drill program at the Ngula 1 target on the Tembo Project in the Lake Victoria goldfield of Tanzania. All reported drilling to date at the Ngula 1 target has encountered multiple zones of gold mineralization across a greater than 500m strike length.
Highlights of the latest drill results include:
-- TDD0012: 8.6g/t Au over 0.98m from 171.92m;
-- TRC0013R: 17.23g/t Au over 4.00m, including 48.8g/t Au over 1.00m from
19.00m and 13.00g/t Au over 1.00m from 104m;
-- TRC0014: 19.80g/t Au over 1.00m from 114.00m and 10.00g/t over 1.00m
from 122.00m;
-- TDD0054: 8.90g/t over 9.00m from 116.95m.
Drill Program
The Ngula 1 target consists of at least two dominant sub-parallel east-west structures with northeast and northwest secondary cross-over structures appearing to interconnect the two. Drilling has been conducted from the south and the north to optimize intersection depths in both the northern and southern east-west trending structures. Ongoing detailed structural and geological interpretation of the meta-volcanic stratigraphy and the structural intersections is in progress to obtain a better understanding of the controls on the distribution of mineralization and particularly higher gold grades.
Six reverse circulation (RC) and six diamond drill holes have been drilled at -60 degrees to the north targeting vertical depths of 50m and 100m on the southern east-west structure and deeper intersections on the northern structure on 100m spaced section lines along a 500m strike length.
Six diamond drill (DD) holes have been completed drilling at -60 degrees towards the south into the northern east-west structure targeting intersections along this structure at a vertical depth of 50m and deeper intersections along the southern structure. These holes have been drilled on 100m spaced section lines.
As anticipated the drill program has intersected and identified t multiple new gold-bearing structures which were not evident from artisanal workings. Further investigation of these new structures is currently underway, as despite containing lower sulphide content at these stratigraphic horizons they typically display similar characteristics to better-mineralized structures, which strongly suggests that they could potentially be higher-grading elsewhere along strike or down dip.
The results of all drill holes completed to date at Ngula 1 are shown in table below (Table 1). This table includes previously announced drill hole results on March 13, 2012. No grouping or correlation of drill hole values has been presented as further interpretation and in-fill drilling is required. The drill hole collar positions are shown in Figure 1.
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/TEM0607.pdf
Table 1: Tembo Project, Ngula 1 Target Drill Results as of June 6, 2012
---------------------------------------------------------------------------
Collar
Drill From To Width Au Azi- Collar
hole (m) (m) (m) g/t Easting Northing Elev. muth Dip
---------------------------------------------------------------------------
TDD0004 41 66.89 25.89 3.13 436700 9647155 1225 0 -60
including 41 53 12 1.67
including 41.9 44.5 2.6 4.46
including 59.5 66.89 7.39 8.19
including 60 66.3 6.3 9.38
and 42.51 43 0.49 15.9
60 61 1 24.2
---------------------------------------------------------------------------
TDD0005 112.5 113 0.5 0.8 436500 9647165 1225 0 -60
152.86 158 5.14 8.5
including 155.32 158 2.68 15.59
including 155.32 155.7 0.38 93.3
---------------------------------------------------------------------------
TDD0006 27.47 28.78 1.31 1.16 436300 9647165 1225 0 -60
160.76 162.18 1.42 2.28
including 160.76 161.69 0.93 3.09
172.5 172.8 0.3 3.89
231.82 232.11 0.29 1.4
---------------------------------------------------------------------------
TDD0010 71.95 72.6 0.65 0.59 436700 9647101 1225 0 -50
116.92 117.13 0.21 0.52
121.2 121.5 0.3 0.94
189 191.5 2.5 3.72
including 189.5 191.5 2 4.48
including 190.3 191.5 1.2 6.44
257.8 258.4 0.6 1.69
291 294 3 0.58
---------------------------------------------------------------------------
TDD0011 5 12 7 0.76 436500 9647135 1225 0 -60
20 21 1 0.64
23.5 24 0.5 1.84
200 200.9 0.9 0.74
---------------------------------------------------------------------------
TDD0012 84.19 84.58 0.39 1.45 436300 9647135 1225 0 -60
171.92 172.9 0.98 8.6
226 226.85 0.85 1
---------------------------------------------------------------------------
TDD0022 100.5 101 0.5 0.52 436700 9647365 1225 180 -60
105 106.86 1.86 0.52
including 106.42 106.86 0.44 1.28
---------------------------------------------------------------------------
TDD0023 258.34 258.7 0.36 0.69 436300 9647415 1225 180 -60
---------------------------------------------------------------------------
TDD0049 23 25 2 2.99 436900 9647325 1225 180 -60
28 29 1 0.57
32 34 2 0.66
---------------------------------------------------------------------------
TDD0051 89 90 1 2.89 436800 9647325 1225 180 -60
94 95 1 2.57
187.71 188.61 0.9 2.7
209.27 209.95 0.68 2.98
---------------------------------------------------------------------------
TDD0053 44 45 1 0.77 436700 9647325 1225 180 -60
129.65 132 2.35 0.87
266 268.03 2.03 2.86
288.53 291 2.47 0.78
297.05 300.05 3 1.19
304.3 305.3 1 0.51
309 310 1 1.41
---------------------------------------------------------------------------
TDD0054 73 75 2 1.23 436500 9647325 1225 180 -60
108.61 109.34 0.73 0.89
116.95 125.95 9 8.9
including 117.93 120.13 2.2 12.9
including 119.31 120.13 0.82 18.9
including 121.92 125.95 4.03 12.56
including 122.38 123.38 1 28.8
269 270 1 1.84
---------------------------------------------------------------------------
TRC0004 85 86 1 0.54 436800 9647125 1225 0 -60
91 92 1 1.43
106 107 1 0.7
---------------------------------------------------------------------------
TRC0005 24 25 1 0.6 436600 9647125 1225 0 -60
76 77 1 0.59
139 140 1 0.6
214 215 1 0.66
---------------------------------------------------------------------------
TRC0006 5 6 1 4.42 436400 9647125 1225 0 -60
174 179 5 0.63
190 191 1 0.92
206 209 3 3.16
260 261 1 0.79
---------------------------------------------------------------------------
TRC0013R 19 23 4 17.23 436800 9647165 1225 0 -60
including 19 22 3 22.53
including 20 21 1 48.8
47 48 1 0.59
75 76 1 1.17
86 90 4 1.99
99 100 1 1.92
104 105 1 13
117 118 1 0.75
194 195 1 1.51
220 221 1 1.01
---------------------------------------------------------------------------
TRC0014 47 48 1 0.87 436600 9647165 1225 0 -60
52 54 2 1.62
114 115 1 19.8
122 123 1 10
151 152 1 0.82
252 253 1 0.57
280 281 1 0.54
---------------------------------------------------------------------------
TRC0015 1 2 1 0.58 436400 9647165 1225 0 -60
145 147 2 0.97
200 202 2 0.58
261 263 2 0.83
---------------------------------------------------------------------------
Note: Intersection widths denote core length and true widths have not been
determined
Drill results shaded in grey were previously reported in March 13, 2012
The drilling has delineated gold along a strike length of more than 500m with grades varying along strike and dip but displaying structural continuity. The current and future drill holes are aimed at extending the range of known mineralization and improving grade and structural correlation across drill holes, particularly targeting potentially plunging high-grade zones.
Tembo Gold President & CEO, David Scott stated, "The Ngula 1 target results are consistently intersecting strong structures with gold mineralization both under artisanal workings and along strike of these workings. This shows that although artisanal mining reveals areas of gold mineralization, there is mineralization along these structures and other structures that are not being exploited. This supports our strategy to explore beyond artisanal mining targeting structures using magnetic lineaments as a guide. We are very pleased with drilling to date as all holes at Ngula 1 have encountered gold mineralization across a strike of more than 500m."
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.
About Tembo Gold Corp.
Tembo Gold (TSX VENTURE:TEM) is a Canadian publicly listed mineral exploration company focused on the exploration and development of gold projects in Tanzania and the rest of Africa. The Company currently has 100% interest in the Tembo Gold Project that is located adjacent to African Barrick's 20Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone belt in Tanzania. The company is led by a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa. The company has commenced its 90,000m drill program on its Tembo Gold Project.
On Behalf of the Board of Directors of Tembo, David Scott, President & CEO
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Contacts:
Tembo Gold Corp.
Marc Cernovitch
Director & VP Business Development
416.619.9010
mcernovitch@tembogold.com
© 2024 Canjex Publishing Ltd. All rights reserved.