TORONTO, ON / ACCESSWIRE / June 26, 2014
/ Tembo Gold Corp.
(TSX VENTURE:TEM) (FRANKFURT:T23)
("Tembo", or the "Company) is pleased to announce the
results from the 2014 drilling program at the Nyakagwe East target
on the Tembo Property in the Lake Victoria goldfield of
Tanzania.
Diamond drilling at Nyakagwe
East in 2014, following up on drilling conducted during the 2012
drilling program, has returned a number of good results
demonstrating that gold mineralization exists along a number of
structural zones along a strike of 1km and persisting at depth.
Thirteen diamond drill holes totaling 3,179m have been completed in
the 2014 program.
Highlights of the latest drill results at
Nyakagwe East:
-TDD0026: 1.89g/t Au over 2.23m from
221.77m;
-TDD0056: 4.42g/t Au over 2.60m from 130.60
including 10.57g/t Au over 1.00m
-TDD0070: 1.01g/t Au over 8.70m from 87.84m,
including 2.81g/t Au over 1.41m;
-TDD070A: 1.55g/t Au over 7.21m from 93.24m,
including 3.15g/t Au over 0.94m and 3.19g/t Au over
0.51m;
-TDD0072: 8.44g/t Au over 1.30m from 99.90m,
including 25.00g/t Au over 0.42m;
-TDD0074: 6.55g/t Au over 7.46m from 370.46m;
and
-TDD0077: 1.41g/t Au over 4.50m from 133.00m,
including 2.62g/t Au over 1.50m.
David Scott President &
CEO stated, "Nyakagwe East
has once again returned a number of promising intersections along a
number of structures, some with considerable widths and good
grades, but these are noted to be impersistent along strike and
dip. TDD0074 suggests there may be improvement in the tenor of
mineralization with depth, and testing of this will be considered
in the future drilling programs. These results and those of the
other Tembo targets will be carefully considered, compared and
prioritized as the drill program continues, and drilling will be
focused on those established as the priority targets."
The Nyakagwe East
Target
Nyakagwe
East is located at the eastern end of an extensive area of
historical artisanal mining that extends from Nyakagwe Village and
Mgusu in the west and northwest. To the southeast, the
northwest-trending structures that are the focus of the artisanal
workings are deeply covered by an extensive area of mbuga (black
cotton soil) and the flood plain of the Bulyanhulu River. The
workings consist of two parallel areas of northwest-trending pits
and shafts, each with more than one zone of mining apparent
along lines of shafts. Diamond drilling
conducted in 2008, which returned good results, was followed up by
Tembo in 2012.
Best historical drill
holes included:
-DD001:
10.25g/t Au over 3.50m from 38.50m;
-DD005:
9.73g/t Au over 3.40m from 81.94m;
-DD008:
12.40g/t Au over 0.41m from 100.67m: and
-DD011:
7.94g/t Au over 2.00m from 45.10m.
The 2012
diamond and reverse circulation drilling programs (previously
reported) returned best results of:
-TDD0019:
4.67g/t Au over 1.67m from 67.73m;
-TDD0029:
61.80g/t Au over 0.68m from 277.24m;
-TDD0030:
4.57g/t Au over 1.61m from 49.89m;
-TDD0104:
4.72g/t Au over 2.11m from 66.80m;
-TDD0127:
5.51g/t over 1.50m from 117.00m; and
-TRC0234:
5.46g/t Au over 2.00m from 109.00m.
The
drilling completed at Nyakagwe East to date shows that there are a
number of west-northwest-trending, steep south-dipping structures
that host gold mineralization. Two structural zones, one to the
north and one to the south, are separated by a younger east-west
striking magnetic dyke. Each zone has at least two structures,
interpreted as mineralized fault zones. Mineralization along the
structures is variable, in places wide and high grade and elsewhere
narrow and low grade. The structures appear to be consistently
developed and, where well mineralized, contain white to smoky grey
quartz veins and abundant disseminated sulphide, predominantly
pyrite but locally containing minor pyrrhotite. Mineralization has
been intersected along a 1km strike and is open ended in both
directions. It is apparent that the Nyakagwe East target structures
persist to the west, where they have been exploited by the
artisanal workings associated with the Nyakagwe Village and Mgusu
areas.
-------------------------------------------------------------
|Table 1. Nyakagwe East Drilling Results 2014(all boreholes)|
-------------------------------------------------------------
---------------------------------------------------------------
|Nyakagwe East | | | |>0.50g/t | >2.00g/t |
|-------------------------------------------------------------|
|BH ID |From |To |Width|Au g/t|Width|Au | Width| Au |
| | | |(m) | | |g/t |(m) |g/t |
|-------------------------------------------------------------|
|TDD0024 |253.00|253.85|0.85 |0.8 |0.85 |0.80 | | |
|-------------------------------------------------------------|
| |297.04|297.5 |0.46 |2.13 | | | 0.46 | 2.13 |
|-------------------------------------------------------------|
| |297.50|298.5 |1.00 |0.63 | | | | |
|-------------------------------------------------------------|
| |299.30|299.6 |0.30 |0.49 |1.76 |1.00 | | |
|-------------------------------------------------------------|
|TDD0026 |221.77|222.22|0.45 |2.83 | | | 0.45 | 2.83 |
|-------------------------------------------------------------|
| |222.22|222.72|0.50 |0.67 | | | | |
|-------------------------------------------------------------|
| |222.72|223.22|0.50 |0.79 | | | | |
|-------------------------------------------------------------|
| |223.22|223.53|0.31 |3.35 | | | | |
|-------------------------------------------------------------|
| |223.53|224.00|0.47 |2.49 |2.23 |1.89 | 0.78 | 2.83 |
|-------------------------------------------------------------|
|TDD0048 |90 |90.55 |0.55 |0.93 |0.55 |0.93 | | |
|-------------------------------------------------------------|
|TDD0050 |No | | | | |
| |significant | | | | |
| |intersections | | | | |
|-------------------------------------------------------------|
|TDD0052 |No | | | | |
| |significant | | | | |
| |intersections | | | | |
|-------------------------------------------------------------|
|TDD0055 |140.70|141.25|0.55 |2.00 | | | 0.55 | 2.00 |
|-------------------------------------------------------------|
| |141.25|142.17|0.92 |0.17 | | | | |
|-------------------------------------------------------------|
| |142.17|143.10|0.93 |0.12 | | | | |
|-------------------------------------------------------------|
| |143.10|144.00|0.90 |0.82 |3.30 |0.64 | | |
|-------------------------------------------------------------|
|TDD0058 |3.30 |3.80 |0.50 |8.75 | | | 0.50 | 8.75 |
|-------------------------------------------------------------|
| |5.00 |5.50 |0.50 |6.24 | | | 0.50 | 6.24 |
|-------------------------------------------------------------|
| |93.00 |93.40 |0.40 |1.34 |0.40 |1.34 | | |
|-------------------------------------------------------------|
| |149.35|149.65|0.30 |1.35 |1.05 |1.35 | | |
|-------------------------------------------------------------|
| |236.00|236.50|0.50 |0.60 |0.10 |0.60 | | |
|-------------------------------------------------------------|
|TDD0070 |87.84 |88.64 |0.80 |1.31 | | | | |
|-------------------------------------------------------------|
| |88.64 |89.24 |0.60 |1.44 | | | | |
|-------------------------------------------------------------|
| |89.24 |89.63 |0.39 |0.74 | | | | |
|-------------------------------------------------------------|
| |89.63 |90.29 |0.66 |0.20 | | | | |
|-------------------------------------------------------------|
| |90.29 |90.65 |0.36 |0.19 | | | | |
|-------------------------------------------------------------|
| |90.65 |90.95 |0.30 |0.54 | | | | |
|-------------------------------------------------------------|
| |90.95 |91.30 |0.35 |0.48 | | | | |
|-------------------------------------------------------------|
| |91.30 |91.69 |0.39 |0.33 | | | | |
|-------------------------------------------------------------|
| |91.69 |92.00 |0.31 |0.95 | | | | |
|-------------------------------------------------------------|
| |92.00 |92.30 |0.30 |0.26 | | | | |
|-------------------------------------------------------------|
| |92.30 |92.74 |0.44 |0.04 | | | | |
|-------------------------------------------------------------|
| |92.74 |93.10 |0.36 |0.72 | | | | |
|-------------------------------------------------------------|
| |93.10 |93.40 |0.30 |1.98 | | | | |
|-------------------------------------------------------------|
| |93.40 |93.73 |0.33 |0.36 | | | | |
|-------------------------------------------------------------|
| |93.73 |94.08 |0.35 |0.20 | | | | |
|-------------------------------------------------------------|
| |94.08 |94.43 |0.35 |0.26 | | | | |
|-------------------------------------------------------------|
| |94.43 |94.94 |0.51 |3.85 | | | | |
|-------------------------------------------------------------|
| |94.94 |95.35 |0.41 |1.27 | | | | |
|-------------------------------------------------------------|
| |95.35 |95.84 |0.49 |3.03 | | | 1.41 | 2.81 |
|-------------------------------------------------------------|
| |95.84 |96.24 |0.40 |0.09 | | | | |
|-------------------------------------------------------------|
| |96.24 |96.54 |0.30 |1.43 |8.70 |1.01 | | |
|-------------------------------------------------------------|
|TDD0070A|47.10 |48.05 |0.95 |0.68 | | | | |
|-------------------------------------------------------------|
| |48.05 |48.40 |0.35 |4.50 | | | 0.35 | 4.50 |
|-------------------------------------------------------------|
| |48.40 |49.40 |1.00 |0.59 |2.30 |1.22 | | |
|-------------------------------------------------------------|
| |93.24 |93.62 |0.38 |4.25 | | | | |
|-------------------------------------------------------------|
| |93.62 |94.18 |0.56 |2.40 | | | 0.94 | 3.15 |
|-------------------------------------------------------------|
| |94.18 |94.43 |0.25 |0.26 | | | | |
|-------------------------------------------------------------|
| |94.43 |94.88 |0.45 |0.91 | | | | |
|-------------------------------------------------------------|
| |94.88 |95.25 |0.37 |1.43 | | | | |
|-------------------------------------------------------------|
| |95.25 |95.83 |0.58 |1.20 | | | | |
|-------------------------------------------------------------|
| |95.83 |96.29 |0.46 |1.06 | | | | |
|-------------------------------------------------------------|
| |96.29 |96.82 |0.53 |0.61 | | | | |
|-------------------------------------------------------------|
| |96.82 |97.41 |0.59 |0.77 | | | | |
|-------------------------------------------------------------|
| |97.41 |98.00 |0.59 |1.88 | | | | |
|-------------------------------------------------------------|
| |98.00 |98.50 |0.50 |1.04 | | | | |
|-------------------------------------------------------------|
| |98.50 |98.99 |0.49 |1.93 | | | | |
|-------------------------------------------------------------|
| |98.99 |99.50 |0.51 |3.19 | | | 0.51 | 3.19 |
|-------------------------------------------------------------|
| |99.50 |100.00|0.50 |0.74 | | | | |
|-------------------------------------------------------------|
| |100.00|100.45|0.45 |1.57 |7.21 |1.55 | | |
|-------------------------------------------------------------|
|TDD0072 |99.9 |100.78|0.88 |0.54 | | | | |
|-------------------------------------------------------------|
| |100.78|101.2 |0.42 |25.00 |1.30 |8.44 | 0.42 | 25.00|
|-------------------------------------------------------------|
| |148.30|148.60|0.30 |0.57 |0.30 |0.57 | | |
|-------------------------------------------------------------|
| |158.45|158.75|0.30 |0.89 | | | | |
|-------------------------------------------------------------|
| |158.75|159.05|0.30 |2.76 | | | 0.30 | 2.76 |
|-------------------------------------------------------------|
| |159.05|159.70|0.65 |1.13 |1.25 |1.46 | | |
|-------------------------------------------------------------|
| |161.00|161.30|0.30 |0.5 |0.30 |0.50 | | |
|-------------------------------------------------------------|
| |162.25|162.55|0.30 |1.19 |0.30 |1.19 | | |
|-------------------------------------------------------------|
| |170.2 |170.6 |0.40 |2.70 | | | 0.40 | 2.70 |
|-------------------------------------------------------------|
|TDD0074 |370.46|371.00|0.54 |22.0 | | | | |
|-------------------------------------------------------------|
| |371.00|371.60|0.60 |6.44 | | | | |
|-------------------------------------------------------------|
| |371.60|371.90|0.30 |2.87 | | | | |
|-------------------------------------------------------------|
| |371.90|372.33|0.43 |2.45 | | | | |
|-------------------------------------------------------------|
| |372.33|372.63|0.30 |4.76 | | | | |
|-------------------------------------------------------------|
| |372.63|373.13|0.50 |8.61 | | | | |
|-------------------------------------------------------------|
| |373.13|373.54|0.41 |4.02 | | | | |
|-------------------------------------------------------------|
| |373.54|374.12|0.58 |0.51 | | | | |
|-------------------------------------------------------------|
| |374.12|374.62|0.50 |4.51 | | | | |
|-------------------------------------------------------------|
| |374.62|375.30|0.68 |1.17 | | | | |
|-------------------------------------------------------------|
| |375.30|376.22|0.92 |6.15 | | | | |
|-------------------------------------------------------------|
| |376.22|376.74|0.52 |5.75 | | | | |
|-------------------------------------------------------------|
| |376.74|377.20|0.46 |13.6 | | | | |
|-------------------------------------------------------------|
| |377.20|377.50|0.30 |0.61 | | | | |
|-------------------------------------------------------------|
| |377.50|377.92|0.42 |12.8 | | | 7.46 | 6.55 |
|-------------------------------------------------------------|
| |54.90 |55.30 |0.40 |1.31 | | | | |
|-------------------------------------------------------------|
| |55.30 |56.30 |1.00 |1.91 | 1.40| 1.74| | |
|-------------------------------------------------------------|
|TDD0077 |133.00|133.95|0.95 |0.62 | | | | |
|-------------------------------------------------------------|
| |133.95|134.50|0.55 |0.64 | | | | |
|-------------------------------------------------------------|
| |134.50|135.00|0.50 |0.45 | | | | |
|-------------------------------------------------------------|
| |135.00|135.50|0.50 |1.92 | | | | |
|-------------------------------------------------------------|
| |135.50|136.00|0.50 |0.56 | | | | |
|-------------------------------------------------------------|
| |136.00|136.50|0.50 |2.17 | | | | |
|-------------------------------------------------------------|
| |136.50|137.00|0.50 |3.02 | | | 1.50 | 2.62 |
|-------------------------------------------------------------|
| |137.00|137.50|0.50 |2.66 | 4.50| 1.41| | |
|-------------------------------------------------------------|
| |282.50|283.00|0.50 |0.85 | | | | |
|-------------------------------------------------------------|
| |283.00|283.50|0.50 |0.86 | 1.00| 0.86| | |
|-------------------------------------------------------------|
|TDD0056 |130.60|131.20|0.60 |0.56 | | | | |
|-------------------------------------------------------------|
| |131.20|131.70|0.50 |18.7 | | | | |
|-------------------------------------------------------------|
| |131.70|132.20|0.50 |2.44 | | | 1.00 | 10.57|
|-------------------------------------------------------------|
| |132.20|133.20|1.00 |0.58 | 2.60| 4.42| | |
|-------------------------------------------------------------|
| |210.80|211.10|0.30 |8.56 | | | 0.30 | 8.56 |
|-------------------------------------------------------------|
| |261.45|261.90|0.45 |1.24 |0.45 |1.24 | | |
---------------------------------------------------------------
Notes
to the above table:
-
1.Widths
represent drill intersection widths not corrected for drill hole
inclination and dip of the geological zone. True widths have not
been determined.
-
2.Drill holes have not
been drilled in numerical sequence and not all drill holes in a
sequence have necessarily been drilled. Drill hole numbers
represent the original drill hole identification assigned when
planned.
-
3.No capping of
high-grade values has been applied to the assay results.
Drill Program Q3 2014
Further
drilling during Q3 2014 at Nyakagwe East will await the review of
all drilling results at this and other targets so priorities can be
established. A preliminary program of in-fill holes and drill holes
aimed to test the western extension of Nyakagwe East mineralization
into the Nyakagwe Village and Mgusu target areas has been
prepared.
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.
Figure 1: Nyakagwe East target
drilling status
Click Image To View Full Size
Table 2: Drill hole
collar data, Nyakagwe East 2014 drilling results
------------------------------------------------------------------
|Hole_ID |Easting|Northing|Elevation|Azimuth|Inclination|EOH|
|----------------------------------------------------------------|
|Nyakagwe East| | | | | | |
|----------------------------------------------------------------|
|TDD0024 |438270 |9644920 |1200 |30 |-60 |305|
|----------------------------------------------------------------|
|TDD0026 |438235 |9645050 |1200 |30 |-60 |251|
|----------------------------------------------------------------|
|TDD0048 |437900 |9645365 |1210 |30 |-60 |152|
|----------------------------------------------------------------|
|TDD0050 |437775 |9645255 |1210 |30 |-60 |251|
|----------------------------------------------------------------|
|TDD0052 |437666 |9645268 |1220 |30 |-60 |248|
|----------------------------------------------------------------|
|TDD0055 |438545 |9644990 |1200 |30 |-60 |251|
|----------------------------------------------------------------|
|TDD0056 |437930 |9645030 |1200 |30 |-60 |284|
|----------------------------------------------------------------|
|TDD0058 |438425 |9644880 |1200 |30 |-60 |252|
|----------------------------------------------------------------|
|TDD0070 |438032 |9645207 |1210 |30 |-60 |147|
|----------------------------------------------------------------|
|TDD0070A |438032 |9645211 |1210 |30 |-60 |106|
|----------------------------------------------------------------|
|TDD0072 |438310 |9645080 |1200 |30 |-60 |201|
|----------------------------------------------------------------|
|TDD0074 |437980 |9645115 |1200 |30 |-60 |429|
|----------------------------------------------------------------|
|TDD0077 |438008 |9645156 |1200 |30 |-60 |299|
------------------------------------------------------------------
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 14Moz 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's exploration strategy is to discover mineral resources
as well as continue to look for additional opportunities that can
bring value to the Company and shareholders.
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
results of the gold deportment studies conducted by SGS, including,
without limitation, expected CIL recoveries and the expectation of
high recoveries based on the preliminary gold deportment results,
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 Tembo project, the
economic climate in the jurisdictions where the Company carries on
operations at its Tembo project 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.
Contact
Information:
Tembo Gold Corp.
Marc Cernovitch
Director & VP Business Development
Mob. 1 416 619 9010
email. mcernovitch@tembogold.com
www.tembogold.com
SOURCE: Tembo Gold Corp.
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