Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca – News Commentary – Gold prices have bounced back above $3,010 as renewed tariff discussions out of Washington reignite investor demand for safe-haven assets. With concerns about stagflation and economic slowdown still in play, major financial institutions like HSBC, Bank of America, Standard Chartered, and Citigroup remain bullish on the yellow metal’s long-term trajectory. The rally has triggered fresh inflows into gold-focused ETFs and brought renewed attention to mining stocks, with recent updates from the sector include developments at Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), IAMGOLD Corporation (NYSE: IAG) (TSX: IMG), SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM), Perpetua Resources Corp. (NASDAQ: PPTA), and Orla Mining Ltd. (TSX: OLA) (NYSE-American: ORLA).
Analysts are starting to lift their fair value targets on gold mining stocks, encouraged by strong momentum in the sector and expectations for continued price strength. VanEck reports that gold miners outperformed significantly in March, with rising gold prices fueling a wave of M&A activity and generating the biggest monthly inflows into the space in more than a year.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), an emerging East African gold developer, today announced an update on the Company’s Tembo Project, located in the Lake Victoria Goldfield of northern Tanzania, following the successful conversion of its Prospecting License into four Mining Licenses (MLs).
The milestone marks a significant advancement in LVG’s strategy to unlock the potential of Tembo, which has already benefited from over US$28 million in exploration expenditures, including 50,000 meters of diamond and RC drilling. The conversion from a Prospecting License to four Mining Licenses grants LVG the legal right to develop and produce from the Tembo Project. Key provisions include that each Mining License (ML) is valid for 10 years, with the option of a further 10-year renewal.
“The approval of our Mining Licenses is a pivotal step forward for the Tembo Project,” said Marc Cernovitch, President & CEO of Lake Victoria Gold. “We have always believed in the district-scale potential of this asset. With tenure now secured for the next 10 years, we can focus on evaluating the most efficient development options to unlock maximum shareholder value. This is a transformational moment for the Company and its stakeholders.”
Armed with data obtained from the already mentioned +$28 million already invested into exploration at this site in Tanzania, Lake Victoria Gold (LVG) has zeroed in on three high-priority targets showing impressive gold grades and real growth potential.
At Ngula 1, drilling has revealed a 250-meter-wide zone made up of multiple gold-bearing structures that run at least 600 meters in length, and remain open for expansion both deeper and farther out. Some of the more exciting drill results here include hits like 3.13 grams per tonne (g/t) of gold over nearly 26 meters, and an especially rich interval of 22.18 g/t over 15 meters. These numbers point to both strong grade and size—two ingredients that matter when assessing the economic potential of a gold deposit.
The Nyakagwe Village target is just as exciting. Here, multiple mineralized structures have produced gold grades as high as 78.1 g/t over one meter and 27.88 g/t over nearly four meters. These are high-grade zones that could feed either near-term mining efforts or future development plans.
At Nyakagwe East, drilling has uncovered a 300-meter-wide zone with strong quartz veining and visible sulphide mineralization. Results include intercepts like 19.1 g/t over three meters and 10.25 g/t over 3.5 meters—once again reinforcing the project’s high-grade profile.
With Mining Licenses now secured, LVG is evaluating multiple options for how to move Tembo forward. First, there’s real near-term production potential. Some of the shallow, high-grade areas could potentially be mined using open pits once a little more drilling is done, while nearby third-party facilities may allow the company to start producing gold without having to build its own plant right away. Longer term, LVG may still consider building a dedicated processing facility if production volumes justify it.
On the exploration side, there’s still plenty of runway for growth. A new drill program is being designed to follow up on historical high-grade hits and convert them into formal resource estimates. A recent study also identified 38 new exploration targets on the property—suggesting that the current high-grade zones might just be the beginning. More fieldwork is underway to test these areas for additional gold discoveries.
Finally, LVG is keeping the door open for potential partnerships or strategic deals. The Tembo Project sits right next to Barrick’s massive Bulyanhulu Mine, and the two companies already have a relationship. Back in 2021, LVG sold six non-core licenses to Barrick for $6 million in cash and up to $45 million more in potential contingent payments, which is essentially a bonus if Barrick finds gold on the ground it bought. That deal gave LVG funding to focus on Tembo, while still allowing it to benefit from discoveries made next door. Looking ahead, LVG now has fresh 10-year Mining Licenses at two promising assets.
“We believe Tembo represents a rare opportunity to define a new gold camp in one of Tanzania’s most historically productive districts,” said Simon Benstead, Executive Chairman of Lake Victoria Gold. “With multiple exploration and development levers available to us, and a supportive regulatory environment, we’re committed to responsibly unlocking the full value of this high-potential asset.”
CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
In other industry developments and happenings in the market include:
IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) recently reported a major update to its Nelligan Gold Project in Québec, with Indicated resources increasing 56% to 3.1 million ounces and Inferred resources rising 33% to 5.2 million ounces, both showing stronger gold grades.
“The Nelligan Mineral Resources update today demonstrates the incredible potential of the asset, demonstrating rapid growth in ounces and an improvement in grades from a relatively conservative drill program totalling 23,400 m over the last two years,” said the Company in the statement. “This positions Nelligan among the largest gold projects in Canada with the potential for further growth.”
The company recently followed this up by filing a new technical report confirming the growth, following two years of drilling and its full acquisition of Nelligan after buying out Vanstar Mining. IAMGOLD also updated its global mineral reserve and resource estimates, now totaling 26.7 million ounces in Measured & Indicated and 12.8 million ounces in Inferred categories across its portfolio. With approximately 80% of its measured resources now in Canada, IAMGOLD is solidifying its status as a Canadian-based mid-tier producer with long-term growth potential.
SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) has released its 2025 guidance, projecting gold equivalent production of 410,000 to 480,000 ounces from its four core operations, excluding any potential contributions from the suspended Çöpler mine in Türkiye.
“We entered 2025 with positive momentum,” said Rod Antal, Executive Chairman of SSR Mining. “Our Americas assets, recently bolstered by the acquisition of CC&V, are well positioned for significant production growth and strong cash flows in 2025. In addition, we see attractive and low capital intensity opportunities to potentially extend the mine lives at each of these assets going forward and will continue to progress technical work through the year.
The company’s recent acquisition of the CC&V mine is expected to boost output and contribute to more than 10% year-over-year production growth. Development continues at the high-grade Hod Maden project, with $60 to $100 million in capital spending planned for 2025, alongside exploration across the portfolio targeting mine life extensions.
Perpetua Resources Corp. (NASDAQ: PPTA) ended 2024 with major milestones that set the stage for construction of its Stibnite Gold Project in Idaho, one of the largest and highest-grade open pit gold projects in the U.S. The company secured the Final Record of Decision from the U.S. Forest Service in early 2025, completed Basic Engineering, and signed a procurement contract with Idaho Power to begin securing long-lead powerline components. Perpetua also received an indication of up to $1.8 billion in potential financing from the U.S. Export-Import Bank and closed a $33.6 million equity raise in November 2024.
“Perpetua Resources started 2025 with strong momentum after achieving significant permitting milestones and advancing the Stibnite Gold Project towards a construction decision with the support of government funding,” said Jon Cherry, President and CEO of Perpetua Resources. “The Stibnite Gold Project is uniquely positioned to produce gold and the critical mineral antimony, and to restore a brownfield site through the production of these valuable and strategic resources.”
Orla Mining Ltd. (TSX: OLA) (NYSE-American: ORLA) recently launched a $25 million drilling campaign at its newly acquired Musselwhite Mine in Ontario, aiming to expand gold reserves and extend mine life beyond 2030. The 2025 program includes 35,000 metres of underground drilling and 10,000 metres of surface directional drilling to test a down-plunge extension that could add two to three kilometres of mineralized strike.
“Our primary objective is to intersect mineralization beyond the current reserves and resources along the down-plunge extension of the mine trend, demonstrating the potential to extend mine life well beyond 2030,” said Sylvain Guerard, Senior Vice President, Exploration for Orla. “We will also continue underground drilling and reactivate surface drilling near the mine to further expand resources and demonstrate the potential for mine life extension and expansion.”
Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
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