FSC / Press Release
Lake Victoria Commences Phase 2 Drilling Programme at its Singida-Londoni Gold Project, Tanzania
Golden, CO US, March 14, 2011 /FSC/ - Lake Victoria Mining Company, Inc. (LVCA - OTCBB), is pleased to announce the commencement of the second round of Reverse Circulation drilling at its Singida-Londoni gold project in Tanzania.
This programme follows through from the initial +6000 meter drill programme that was undertaken in October 2010 in which 5 exploration targets as defined by artisanal sites, were tested by reverse circulation drilling along the NW-SE trending Singida shear zone across a strike length of some 5 kilometres.
Notable results included: 13.91 g/t Au over 4 meters; 16.80g/t Au over 2 meters; 23.6g/t Au over 1 meter; 4.14g/t Au over 5 meters, 6.81 g/t Au over 8 meters, 3.6 g/t Au over 11 meters, 3.09g/t Au over 8 meters and 2.71g/t Au over 14 meters (refer to Press Releases of 13 October and 2 November 2010)
Of the 5 targets, four have been selected for further evaluation.
A total of approximately 8,000 meters of reverse circulation drilling, amounting to some 80 boreholes have been planned to further test and to define the Sambaru 2, 3, 4 and 5 Prospects located along strike over a distance of 3 kilometres within the Singida Shear zone. All borehole sites, some located over artisanal workings, have been prepared by a bulldozer.
The aim of the drilling programme is twofold:
i. To obtain a better understanding of the geology and the geometry of the mineralised zones in order to model and evaluate a mineral resource for each of the prospects. This will involve infill drilling on 40 meters spaced, NE-SW trending drill fences that will target the vertical to sub-vertical mineralised zones to depths of approximately 120 meters, in order to provide a greater degree of confidence both in grade and width of the mineralised zones along strike. All boreholes are inclined at -50 degrees to -65 degrees and are drilled either to the northeast or to the southwest.
Approximately 2,000 meters of drilling are planned for each of the Sambaru targets, each having a strike length of 200 to 300 meters.
ii. To undertake a limited amount of exploration across three target areas by:
a) testing the possible presence of a second zone of mineralisation some 180 meters south of the main mineralised zone at Sambaru 5 Prospect. Artisanal activity on the bordering Primary Mining Licence (PML) situated to the east of the Company ground holdings, suggest that the strike of the mineralisation may extend under soil cover into the southern part of Sambaru 5.
b) investigating by drilling a +100 ppb gold-in soil anomaly located mid-way along strike between the Sambaru 3 and Sambaru 4 Prospects. The soil anomaly, having a strike dimension of 400 meters and extending for 200 meters across the shear zone, is to be tested by a single fence of inclined drill holes 60 meters in length, planned "heel to toe" across the central part of the anomaly. A total of 300 meters of drilling will test the anomaly. Further drilling on 80 meter spaced fences will be planned on positive results.
c) drilling a third exploration target located some 250 meters south of Sambaru 3 Prospect, which lies along a known mineral trend that is actively being mined to depths in excess of 100 meters in the adjacent PML, owned by artisanal miners. A number of shallow and inclined holes have been planned close to the boundary of the PML on NE-SW drill fences to test for a possible strike extension of the trend to the east. Soil geochemistry across the area returned 50 ppb gold-in-soil and an associated arsenic anomaly.
Sambaru 5
The program has commenced at Sambaru 5 Prospect and drilling is currently defining the strike and down dip extension of the narrow zone of high grade gold mineralisation previously encountered in the northern end of the licence area at Sambaru 5 Prospect which returned 16.80 g/t gold over 2 meters at a depth of 40 meters. Four drill fences, spaced on 40 meter spaced centres have traced the mineralised zone, characterised by abundant arsenopyrite and occasional nuggets of visible gold, for some 160 meters along strike and down to a vertical depth of 60 meters. The down-hole widths of the mineralised intercepts vary from 16 meters to 5 meters. Should the assay results prove encouraging, a number of deeper holes are expected to be planned to test the mineralised zone down to vertical depths of +100 meters during the course of this drill programme.
The first consignment of samples from Sambaru 5 is expected to be delivered to SGS Laboratory, Mwanza for 50 gram Fire Assay with AA finish within the next two weeks.
The drill programme, expected to be completed by the end of April 2011, is expected to be shortly followed by an independent evaluation by an independent consultancy firm to model and calculate an inferred/indicated resource, prior to proceeding with a follow-up diamond drilling programme planned for mid-year.
Analytical work is expected to be carried out at the independent SGS Laboratories in Mwanza, Tanzania. The drill samples are subject to full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), commercial standards (5%) and duplicates (5%) are being used in each sample batch of 20 samples to monitor laboratory performance during the analysis. Samples submitted either represent 5 meters composite samples of 1 meter intervals or 1 meter samples where on site logging and panning of the RC chips indicates the presence of visible gold or gold-bearing sulphides
