TORONTO, ONTARIO
-- (MARKET WIRE)
-- 09/11/12
Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23)(OTCQX:TBGPF) ("Tembo" or "the Company") is pleased to report results from the ongoing 2012 drill program on the Tembo Property in the Lake Victoria goldfield of Tanzania. The new discovery holes at the Nyakagwe Village target were drilled in the phase 1 drilling program on the Tembo property, and have returned these excellent early drill results (Table 1). With these intersections Tembo has now encountered significant gold mineralization in the initial drilling at all of the first four targets it has drilled (Figure 1). These drill holes demonstrated multiples zones of high grade mineralization near surface and at depth.
Highlights
-- New discovery holes confirm significant high-grade gold mineralization
at 4th target area on the Tembo project.
-- TDD0107: 3.55m of 16.58 g/t of gold and 3m of 27.88 g/t of gold from
44m to 69m
-- TDD0101: 1m of 78.1 g/t of gold from 294m to 295m
-- Drill holes demonstrate high grades near surface and at depth where it
is anticipated to increase in grade and continuity
-- Artisanal grab samples returned grades ranging from 3 to 58 g/t of gold
-- 100% of diamond holes drilled encounter gold mineralization greater
David Scott, President & CEO, stated, "We are particularly pleased with these exceptional drill results as they have demonstrated multiple zones of high grade mineralization near surface as well as high grade mineralization at depth almost 300m down hole. The robust nature of the veins and mineralization encountered in TDD0107 is very encouraging. We continue to believe that the mineralization will increase in grade and consistency at depth as was experienced at Bulyanhulu. All of our diamond drill holes at Nyakagwe village encountered gold mineralization, and we have now confirmed significant gold mineralization at all four of our initial targets. We have had great success targeting magnetic structures coincident with artisanal workings and we will continue to test our high grade targets at depth and along strike to better understand the extent of the gold mineralization."
To view "Figure 1: Summary of Tembo Property and Drill Results" and "Figure 2: Nyakagwe Village Project Significant Drill Results and Samples", click on: http://media3.marketwire.com/docs/tem911i.pdf
Table 1: 2012 Highlights from Diamond Drilling at Nyakagwe Village
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From To Width Gold Width Gold Width Gold
BH ID (m) (m) (m) (g/t) (m) (g/t) (m) (g/t)
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TDD0101 205.00 206.00 1.00 0.71
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286.00 287.00 1.00 0.89 2.00 0.91
287.00 288.00 1.00 0.93
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294.00 295.00 1.00 78.10 1.00 78.10
---------------------------------------------------------------
299.00 299.34 0.34 1.18
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TDD0102 48.08 49.00 0.92 2.90
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160.08 160.98 0.90 1.63
160.98 162.14 1.16 0.72 2.92 1.32
162.14 163.00 0.86 1.79
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263.03 264.00 0.97 2.31
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TDD0107 43.88 44.43 0.55 2.11 3.55 16.58
44.43 44.94 0.51 8.03
44.94 45.32 0.38 36.30
45.32 46.05 0.73 14.30
46.05 46.57 0.52 24.20
46.57 47.43 0.86 19.50
---------------------------------------------------------------
65.90 66.84 0.94 12.60 3.00 27.88
66.84 67.40 0.56 5.51
3.00 27.88
67.40 68.11 0.71 29.80
68.11 68.90 0.79 60.20
---------------------------------------------------------------
229.20 230.08 0.88 0.71
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TDD0114 69.48 71.00 1.52 1.74 2.52 1.42
71.00 72.00 1 0.94
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TDD0128 82.85 83.81 0.96 0.86
---------------------------------------------------------------
146.28 146.79 0.51 0.84
146.79 147.12 0.33 0.69
147.12 147.85 0.73 4.00 3.22 1.85 0.73 4.00
147.85 148.12 0.27 1.28
148.12 149.50 1.38 1.48
---------------------------------------------------------------
264.60 265.70 1.10 2.48 1.10 2.48
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TDD0137 38.00 38.50 0.50 3.90 1.50 2.63
38.50 39.50 1.00 2.00
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(i) Widths represent down hole core lengths and true widths are unknown at
this time.
Drill Program
To date we have drilled a total of 1,301m in six diamond drill holes, all of which have encountered gold mineralization greater than 0.5 g/t. The Nyakagwe Village target is located at the southern edge of the broad, semi-arcuate belt of active artisanal workings (up to 1000m wide) stretching eastwards through the Mgusu target to the Nyakagwe East target area (a distance of some 1,500m). The main artisanal workings at Nyakagwe Village comprise a pit with dimensions of some 100m x 100m and 15m depth within an area containing numerous vertical shafts over a rectangular area some 200m by 100m. Artisanal shafts located on the southern edge of the pit extend to depths in excess of 30 m below surface. Higher grade samples from these workings exhibit very fine grained visible gold associated with vein quartz. The high grades intersected in drill holes are associated with quartz veining and sulphides (predominantly pyrite) within meta-basalts. Further diamond and RC drilling is planned to define the structural controls on the mineralisation.
Artisanal Sampling
The main artisanal mining area consists of an extensive open pit immediately to the east of Nyakagwe Village. Current mining is primarily from a series of shafts to the south of the pit, exploiting a series of quartz veins at depth (that were intersected by drill hole TDD0107). Previously reported sampling of material mined in the vicinity of the pit (Table 2) has returned an average grade of 16.42 g/t.
Table 2: Nyakagwe Village Artisanal Sampling (as previous reported on March
2, 2012)
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Easting Northing Depth Description Gold g/t
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436536 9645029 12.8 4cm QV -H/W Basalt/sed - F/W seds 3.09
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436526 9645011 12.8 4cm QV shallow dipping 58.47
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436527 9644991 22.1 1m QV 14.43
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436550 9644982 18.8 QV - thickness? 10.36
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436519 9644978 25.0 Av. of 5 samples 9.53
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436528 9644984 23.0 Av. of 5 samples 9.41
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436549 9644979 QV + pyrite (av. of 2 samples) 9.66
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Average 16.42
---------------------------------------------
Table 3: Borehole collar coordinates, azimuth and collar dip, and final
depth for all Nyakagwe Village boreholes
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Hole_ID Type Easting Northing Elevation Azimuth CollarDip Eoh
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TDD0100(i) DD 436500.00 9645070.00 1225.00 330.00 -60.00 38.40
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TDD0101 DD 436500.00 9645120.00 1225.00 90.00 -60.00 302.10
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TDD0102 DD 436540.00 9645170.00 1225.00 90.00 -60.00 275.60
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TDD0107 DD 436494.00 9644928.00 1225.00 30.00 -60.00 300.90
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TDD0114 DD 436440.00 9644930.00 1225.00 30.00 -60.00 134.80
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TDD0128 DD 436658.00 9645006.00 1225.00 270.00 -60.00 300.70
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TDD0137 DD 436560.00 9644927.00 1225.00 30.00 -60.00 150.00
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Total meters 1,502.50
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(i) Abandoned.
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 gold 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 Corp. 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 is currently conducting a 90,000m drill program on its Tembo property.
On Behalf of the Board of Directors of Tembo,
David Scott, President & CEO
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the potential of the Company's properties; the future price of base and precious metals; success of exploration activities, costs and timing of future exploration and development; requirements for additional capital; the Company's business plans and strategies; the characteristics and potential of the Tembo Gold Project and other statements relating to the financial and business prospects of the Company. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are based on assumptions, estimates, analysis and opinions that management believes to be reasonable and that are made in light of its experience and its perceptions of trends, current conditions and expected developments, as well as other factors management believes to be relevant and reasonable in the circumstances at the date such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the possibility that future exploration results will not be consistent with the Company' expectations; unexpected events and delays during permitting; timing and availability of external financing on acceptable terms; uncertainty of mineral resource and reserve estimates; volatility of commodity prices; currency exchange rates; governmental regulation of mining operations; failure of equipment or processes to operate as anticipated; risks inherent in mineral exploration and development including environmental hazards, industrial accidents, unusual or unexpected geological formations; and uncertain political and economic environments; impact of general economic conditions; competition from other industry participants; and the lack of availability of qualified personnel or management. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company's business, financial and operational performance and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements or information, except in accordance with applicable securities laws.
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Contacts:
Tembo Gold Corp.
Daniel Sorger
Corporate Development
647.925.8981
dsorger@tembogold.com
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