[Marinir] {Disarmed} Tembo (TSX-V: TEM) Samples up to 30 g/t Gold
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Wed Mar 28 16:52:03 CEST 2012
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Tembo Reports Ngula 2 Artisanal Sampling Results of Up to 30g/t Gold
Tembo Gold Corp. (TSX Venture Exchange: TEM
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=TEM®ion=C&lookup=symbol&snapshot=default
) is pleased to announce assay results from artisanal workings sampling
at the Ngula 2 target at the Tembo project in the Lake Victoria
goldfield in Tanzania. The samples returned an average grade of 17.9g/t
gold and ranged between 7.37g/t and 30g/t gold as reflected in the table
below.
The Tembo project geologist requested 10 samples from artisanal miners
when they re-entered the working area after blasting at depth at the
Ngula 2 site. These samples came directly from the working faces and
were not geologically controlled but are considered to be representative
of the mineralized material currently being mined at the particular
working face but not necessarily of the entire Ngula 2 target area. Gold
assays were conducted at the SGS laboratory in Mwanza, Tanzania.
The excellent results further support the general view that the
artisanal mining activity being carried out on the Tembo Project is high
grade and specifically indicates that the mineralized material being
mined at Ngula 2 is consistent with the high grades from the grab
samples reported previously (as reported on March 2, 2012) as well as
the high grades encountered in the recent drill assays at Ngula 1 target
(as reported on March 13, 2012). The taking of these samples underground
was not supervised and there is no geological control on their context.
As such they should be considered as selected grab samples.
Sample
Number Gold Grade (g/t)
Primary Gold Grade (g/t)
Repeat
NG0001 12.6 12.9
NG0002 21.6 18.5
NG0003 15.6 16.1
NG0004 30 28.6
NG0005 22.3 No repeat done
NG0006 10.1 9.82
NG0007 20.7 17.9
NG0008 23.6 No repeat done
NG0009 7.37 7.28
NG0010 15.4 16.8
Note: All assays were conducted using on a 50g aliquot by fire assay
with an AAS finish providing a detection limit of 0.01ppm to 100ppm.
The Ngula 2 target consists of three sub-parallel workings totaling
approximately 900m of strike and trending northeast that have not been
tested by drilling. The magnetic lineament interpretation indicates that
the structures extend to the northeast and southwest, and that there are
northwest trending structures intersecting these within the artisanal
mined area, which may be contributing to the mineralization. Both
structural directions will be tested by diamond drilling within the
workings and RC drilling along the unmined extensions.
As a result of the increased confidence that we have in artisanal mining
grade and continuity through the outcome of the LIDAR survey
interpretation and the artisanal grab sampling, three additional rigs
(two diamond drills and one RC) have been requested from the contractors
to add to the two diamond drilling and two reverse circulation rigs
already in operation. One additional reverse circulation and diamond
drill rig have already been mobilized and will be deployed at Ngula 2.
The initial diamond drill holes will provide the geological and
structural information required to facilitate the detailed planning of
the drill program and the RC rig will test the extensions to the zone in
both directions where no artisanal mining is evident.
Tembo Gold President and CEO, David Scott, stated, "This encouraging
sampling has further raised our confidence to the extent we can mobilise
further drill rigs to site in order to complete and fast track the
planned program of drilling for 2012. This second drill target holds a
lot of promise and we look forward to the results of the drill program."
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 is a Canadian public company listed on the TSX Venture
Exchange ("TSX-V") under the symbol TEM. The Company currently has 100%
interest in the Tembo Gold Project which is located adjacent to African
Barrick's 20Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone
belt in Tanzania. Our focus is the discovery and development of
world-class gold projects in Africa. The company has assembled a highly
experienced team with a proven history of developing, financing, and
operating mining projects in Africa. With approximately $13 million in
the Treasury, 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.
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
properties, the economic climate in the jurisdictions where the Company
carries on operations 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
416.619.9010
mcernovitch at tembogold.com www.tembogold.com
http://www.tembogold.com
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