3/2/2024 0 Comments Tembo goldThe combination of the two projects allows early gold production and measured production increases over the next 5 years to become a mid tier gold company," said Marc Cernovitch, CEO & Director.Ī qualified person has not done sufficient work to classify the Historical Resource Estimate as current mineral resources, and the Company is not treating the Historical Resource Estimate as current mineral resources or mineral reserves. " The 500,000 oz historical resource on the Dora licence allows Tembo/LVG to advance the project to a higher confidence level through feasibility to Mining Licence. The combination of the two projects aligns well with the Company's commitment to building a diversified portfolio of quality development and near term production assets with strong re-rate potential for all shareholders," said Simon Benstead, Executive Chairman & CFO. " The acquisition of the Dora Project is a perfect complement to the Imwelo Project and provides the opportunity for Tembo to develop two substantial properties with potential for significant upside at a district scale. This PL extends the known and potential strike of mineralization of the Imwelo ML to the west by 6km, with multiple east-west parallel structures potentially increasing this. Mineralized structures hosting the gold trend off the Imwelo ML into the Dora PL and host the historical resource of Indicated Resource of 90,800oz Au at 1.19g/t Inferred Resource of 424,310oz Au at 1.43g/t within the Dora PL.Ī number of targets identified by soil geochemical anomalies within the PL provide additional future targets for follow-up exploration.Įxtensions to the known mineralization at depth and along strike, remain to be tested. The Dora Project prospecting licence (PL) acquisition which was announced in August, bounds the Imwelo mining license to the west, east and south. Once the transfer has been completed and funds are available, follow-up exploration, in particular drilling, will commence to upgrade the resource and provide additional data to support expansion studies of the Imwelo mine development project¸ The potential future resource growth within both the Imwelo mining licence and this PL, along strike extensions to known mineralization and at depth, provide confidence that an expanded production and longer life for the Imwelo project is likely. The Company expects the transfer to be completed during Q1 2024. The Company is pleased to report that it has satisfied its obligations regarding payment terms of the purchase agreement, and the process of transferring the license has commenced. (TSXV: TEM) ("Tembo", or the "Company") is pleased to provide an update on the recently announced License Purchase Agreement of the Dora project. Vancouver, British Columbia-(Newsfile Corp.
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