Lake Victoria Mining Company Defining One Kilometer Strike Length at Kinyambwiga Gold Projectadmin
Lake Victoria Mining Company report the completion of a detailed ground magnetic survey and the beginning of a detailed trenching program to closely define quartz veins over a one kilometer strike length. The Kinyambwiga project lies within License Number PL4653/2007 and covers 30.73 square kilometers in northern Tanzania’s Lake Victoria Greenstone Belt. The property is about 190 kilometers northeast of Mwanza and 12 kilometers west of the smaller town of Bunda.
The ground magnetic survey and the trenching program follows last year’s drilling program, which succeeded in defining gold bearing quartz veins over a 300 meter strike length. The quartz veins appear to be 1 to 1.5 meters wide, strike about N60 degrees E, dip 70-85 degrees north. There has been considerable artisanal mining activity along a strike length of about 300 meters on the veins, and down to a shallow depth of about 15 meters to the water table.
The detailed ground magnetic survey was based along north-south lines spaced 50 meters apart and located in and area of outcropping quartz veins and extended into areas where the veins were projected to extend beneath shallow soil cover. The results suggest the veins have a strike length of a least one kilometer, and that previously unidentified faulted vein segments may also be present. To further define the gold bearing quartz veins, a detailed trenching program is currently underway, with individual trenches spaced 50 meters apart across the veins along a one kilometer strike length. An additional long trench will follow the northeast strike of the veins. The trenches are being mapped and sampled to closely define their gold contents, and bulk samples will be collected for metallurgical gold recovery studies. An environmental permitting study is planned to begin in early July. Each activity is designed to move the project towards development and production.
Lake Victoria Mining Company is conducting detailed legal and accounting studies to move the share exchange program with Kilimanjaro Mining Company to a July 1st closing date. These studies are progressing on schedule.