Lake Victoria to Conduct Pre-Drill Exploration at Singida Gold Project to Determine Undiscovered Sub Surface Gold Vein Sets and
May 19 2010 - 9:15AM
Marketwired
Lake Victoria Mining Company, Inc. (OTCBB: LVCA) - The aim of the
current exploration program is to determine the potential for
undiscovered, subsurface gold vein sets within the sheared package
of metavolcanic rocks proximal to the known gold veins, at Singida
Gold Project in order to determine an economic resource prior to
drill planning.
This Preliminary exploration work is a necessity prior to the
Company advancing the project towards a drilling program. The
ground work is to be focused on:
-- obtaining a better understanding of the geology, the structural
complexity and the distribution of the known gold bearing quartz veins
within the shear zone, and
-- to highlight areas of increased gold anomalism through soil sampling.
This approach is aimed at optimising gold targets in order that
a cost efficient and systematic drill programme can be planned.
Previously completed and announced ground magnetic and IP
surveys undertaken by Lake Victoria Resources have greatly assisted
in defining some of the geological and structural features in the
area.
Artisanal mining at Singida-Londoni has been focused on a number
of narrow gold-rich quartz veins that are located within a major
NW-SE trending shear zone. These veins "pinch and swell" along
strike within the shear zone for a distance of some 7km. Some of
the exposed veins on the Singida-Londoni licenses held by Lake
Victoria Mining Company, that cover a strike length of 4.8 km, have
been mined by artisanal miners in their upper parts to depths of
about 50m. In the northwestern part of the shear structure,
approximately 6 km from the Singida-Londoni licenses, Shanta Gold
Ltd has announced a resource of 1,031,926 oz of gold at a grade of
1.46 g/t on their Singida License.
The Singida-Londoni Pre- Drill Exploration program will
include:
Phase 1:
-- soil sampling on 400m x 50m grid with selected infill sampling, across
the shear zone
-- wall rock sampling of existing pits and artisanal workings in order to
determine the gold values within the sheared sidewall rocks adjacent to
the gold bearing quartz veins
-- trenching across the strike of the quartz veins within undisturbed
ground between areas of previous artisanal working to test the extent of
the mineralization along strike.
-- detailed geological and structural mapping of surface outcrop, trench
and pit exposures
Phase 2
-- Follow-up trenching/pitting on any coherent soil anomalies.
-- Interim results will be reported as they become available.
-- Upon confirmation of the existence of undiscovered, subsurface gold
bearing quartz veins, a follow-up drilling program will be planned and
initiated.
During Phase 1 and 2, the planning of exploration programs on
prioritized targets within the license portfolio of Lake Victoria
Mining Company will commence and be on-going.
About the Company
Lake Victoria Mining Company, Inc. is working to create another
gold mine in the world famous Lake Victoria Greenstone Belt,
Tanzania, East Africa. Tanzania produced 1.75 million troy ounces
of gold during 2007 and is the 3rd largest gold producer in Africa
behind South Africa and Ghana. Lake Victoria holds eleven
prospective gold projects and five uranium projects within its
Tanzania property portfolio. Additional information regarding the
Company is available on the corporate website at:
www.lakevictoriaminingcompany.com.
Disclaimer: This news release may contain forward looking
statements, relating to the Company's operations or the environment
in which it operates, which are based on Lake Victoria Mining
Company, Inc.'s operations, estimates, forecasts and projections.
These statements are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict,
and/or beyond Lake Victoria Mining Company, Inc.'s control. A
number of important factors could cause actual outcomes and results
to differ materially from those expressed in these forward-looking
statements. Consequently, readers should not place undue reliance
on such forward-looking statements. Lake Victoria Mining Company,
Inc. disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contacts: Lake Victoria Mining Company, Inc. Dr. Roger A. Newell
303-586-1390 info@lvcamining.com
www.lakevictoriaminingcompany.com
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