Victoria Lake Inc. (LVCA)

[ConferredDiligence]

Some key points regarding proposed mining operations, resource estimates, production targets and financing necessary. For all the naysayers, it does look like they have a plan...


http://www.lakevictoriaminingcompany.com/mining-operations/gold/musoma-bunda-gold-project/


The Kunanga 1 Prospect has been earmarked for small scale mining operations that are expected to proceed once necessary funding and the issuing of a Mining License has been achieved.


Mine Planning
The Kunanga 1 Prospect consists of a small, conceptual gold target that based on 40 meter spaced reverse circulation drill sections and trenches and may contain gold bearing mineralized material of between 600,000 and 1,000,000 tonnes. The estimated gold grades are between 1.50 and 2.00 g/t.

The Mining and Mill Plan is designed for processing 300 tonnes per day

The Mining License covers an area of approximately 5.12 square kilometers and remains in force for the period of ten years, Under the terms of the mining license the Company can now search for, mine, dig, mill, process, refine, transport, use and or market Gold under the Mining license area and execute such other works as are necessary for that purpose. Receiving the mining license allows the Company to raise the estimated $3,000,000 capital investment needed to proceed with the mine development. This will take the Company from exploration into gold production.