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Lake Victoria to Conduct Pre-Drill Exploration at Singida Gold Project to Determine Undiscovered Sub Surface Gold Vein Sets and
GOLDEN, COLORADO -- (Marketwire) 05/19/10 Lake Victoria Mining Company, Inc. (OTCBB: LVCA) - The aim of the current exploration program is to determine the potential for undiscovered, subsurface gold vein sets within the sheared package of metavolcanic rocks proximal to the known gold veins, at Singida Gold Project in order to determine an economic resource prior to drill planning.
This Preliminary exploration work is a necessity prior to the Company advancing the project towards a drilling program. The ground work is to be focused on:
-- obtaining a better understanding of the geology, the structural
complexity and the distribution of the known gold bearing quartz veins
within the shear zone, and
-- to highlight areas of increased gold anomalism through soil sampling.
This approach is aimed at optimising gold targets in order that a cost efficient and systematic drill programme can be planned.
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Tanzania Resource Wealth Tanzania's mineral wealth borders on the fabulous: Apart from Gold, Diamond and Gemstones, Tanzania has abundant mineral reserves of Nickel, Copper, Uranium, Kaolin, Titanium, Cobalt and Platinum and even SALT. That is why Tanzania has been attracting some of the largest mining companies in the world. Since the 1990's, several major gold discoveries have been made and much larger mines are entering production. These developments and discoveries include the following:
Geita 20.0M oz Au 4.05 g/T Anglo Gold-Ashanti Ltd Golden Pride 2.7M oz Au 2.6 g/T Resolute Mining Bulyanhulu 19M oz Au 14.0 g/T Barrick Tulawaka 1.7M tons 19 g/T Pangaea Buckreef-Rwamagaza 1.9M oz Au 3.1 g/T Spinifex Nyakafuru 0.14M oz Au 5.7 g/T Spinifex Chocolate Reef - Buzwagi 2.4M oz. Au 2.3 g/T Anglo Gold-Ashanti Ltd-Pangaea Golden Ridge 1.6M oz. Au 1.4 g/T Barrick-Pangaea Kitongo 0.33M oz. Au 1.34 g/T Ashanti-Spinifex Kukuluma-Matandani 1.96M oz Au 2.87 g/T Anglo Gold-Ashanti Ltd North Mara 4.0M oz Au 3.17 g/T Placer Dome
Posts: 428 | From: Michigan | Registered: Oct 2009
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Lake Victoria Mining Company Inc. is strong and dynamic.
The Company has been founded on solid experience and has tapped into the talent and business management, of successful consultants, managers and business owners in the resource industry, both at home and abroad.
This has provided stability and the ability to act swiftly and to be responsive to economic trends in the resource industry that are emerging in the market place.
Posts: 428 | From: Michigan | Registered: Oct 2009
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GOLDEN, COLORADO, May 19, 2010 -- Lake Victoria Mining Company, Inc. (OTCBB: LVCA) - The aim of the current exploration program is to determine the potential for undiscovered, subsurface gold vein sets within the sheared package of metavolcanic rocks proximal to the known gold veins, at Singida Gold Project in order to determine an economic resource prior to drill planning.
This Preliminary exploration work is a necessity prior to the Company advancing the project towards a drilling program. The ground work is to be focused on:
-- obtaining a better understanding of the geology, the structural complexity and the distribution of the known gold bearing quartz veins within the shear zone, and -- to highlight areas of increased gold anomalism through soil sampling.
This approach is aimed at optimising gold targets in order that a cost efficient and systematic drill programme can be planned.
Previously completed and announced ground magnetic and IP surveys undertaken by Lake Victoria Resources have greatly assisted in defining some of the geological and structural features in the area.
Artisanal mining at Singida-Londoni has been focused on a number of narrow gold-rich quartz veins that are located within a major NW-SE trending shear zone. These veins "pinch and swell" along strike within the shear zone for a distance of some 7km. Some of the exposed veins on the Singida-Londoni licenses held by Lake Victoria Mining Company, that cover a strike length of 4.8 km, have been mined by artisanal miners in their upper parts to depths of about 50m. In the northwestern part of the shear structure, approximately 6 km from the Singida-Londoni licenses, Shanta Gold Ltd has announced a resource of 1,031,926 oz of gold at a grade of 1.46 g/t on their Singida License.
The Singida-Londoni Pre- Drill Exploration program will include:
Phase 1:
-- soil sampling on 400m x 50m grid with selected infill sampling, across the shear zone -- wall rock sampling of existing pits and artisanal workings in order to determine the gold values within the sheared sidewall rocks adjacent to the gold bearing quartz veins -- trenching across the strike of the quartz veins within undisturbed ground between areas of previous artisanal working to test the extent of the mineralization along strike.
-- detailed geological and structural mapping of surface outcrop, trench and pit exposures
Phase 2
-- Follow-up trenching/pitting on any coherent soil anomalies.
-- Interim results will be reported as they become available.
-- Upon confirmation of the existence of undiscovered, subsurface gold bearing quartz veins, a follow-up drilling program will be planned and initiated.
During Phase 1 and 2, the planning of exploration programs on prioritized targets within the license portfolio of Lake Victoria Mining Company will commence and be on-going.
-------------------- what i post is my opinion Posts: 304 | Registered: Sep 2009
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Lake Victoria Mining Company presence and operations will benefit both the company and the people of Tanzania, in the locales where we carry on activities.
To aid the company with decisions that reflect social responsibility it will:
endeavor to employ people living in Tanzania listen to the voice of the local people become informed with the reviews made on existing mining and exploration companies in Tanzania, regarding the positive and negative effects on a local and national level make the company aware of suggestions as put forth by the Tanzanian government
In the area of social responsibility Lake Victoria Mining Company will endeavor, as far as it depends on the company, to gain a very good reputation in the field of social and environmental responsibility.
Posts: 428 | From: Michigan | Registered: Oct 2009
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Lake Victoria Mining takes it's responsibility to the Tanzanian people seriously, both locally and nationally, in any actions of the company that would effect them directly and/or indirectly.
The Company code of conduct includes treating the people the company does business with and the local community where the company has business operations, with the attention and proper respect that they deserve.
Lake Victoria Mining Company is honest and upfront in the company’s business dealings and clear as to it’s purpose.
Lake Victoria Mining deals fairly with all parties entering a business relationship with the company, including not withholding any information that would disadvantage the person, other company or community.
Lake Victoria Mining puts forth it’s best effort to be morally responsible as a company. The company operates from a perspective of helping, and not doing harm to any community or person with whom it interacts.
Posts: 428 | From: Michigan | Registered: Oct 2009
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The key objective of Lake Victoria Mining Company, is to identify and acquire mineral resource properties that have a high potential for a proven reserve, and to establish one or more proven reserves and progress from a resource and exploration company to a producing mining company.
Posts: 364 | Registered: Mar 2010
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The Singida Gold Project is an 11-kilometer stretch across Tanzania, consisting of 54 mining licenses
Posts: 364 | Registered: Mar 2010
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Lake Victoria Mining Company presence and operations will benefit both the company and the people of Tanzania, in the locales where we carry on activities.
To aid the company with decisions that reflect social responsibility it will:
endeavor to employ people living in Tanzania listen to the voice of the local people become informed with the reviews made on existing mining and exploration companies in Tanzania, regarding the positive and negative effects on a local and national level make the company aware of suggestions as put forth by the Tanzanian government
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Tanzania has a great potential particularly for gold, base metals, diamonds, ferrous minerals and a wide variety of gemstones, some of, which are unique such as tanzanites. Coal, uranium, and various industrial minerals such as soda, kaolin, tin, gypsum, phosphate and dimension stones are available at an attractive economic rates. The following are minerals that have attracted the most interest in the recent years. Details....
Tanzania has been the major focus of Africa's gold exploration and development over the past five years. As a result, the gold mining industry in Tanzania grew 27% in 1999, a major increase from the previous years' 17%. Up to 15% of Africa's exploration expenditure has been spent in Tanzania, thought to have Africa's largest gold reserves, after South Africa. Diamonds, gold, nickel and gemstones play key roles in Tanzania's growing minerals industry. However, nearly all major developments have been seen in the gold industry.
The Williamson Diamond Mine (also known as the Mwadui mine) is a famous diamond mine in Tanzania; it became well known as the first significant diamond mine outside of South Africa. The mine was established in 1940 by Dr. John Williamson, a Canadian geologist, and has been in continuous operation since then, making it one of the oldest continuously operating diamond mines in the world. Over its lifetime it has produced over 19 million carats (3,800 kg) of diamonds.
Posts: 428 | From: Michigan | Registered: Oct 2009
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Lake Victoria Mining Company’s flagship project lies in the heart of Tanzania, in the continent of Africa…dubbed the Singida Gold Project.
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LVCA All Lake Victoria Mining Company’s employees are responsible for adhering to ethical business practice
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The Singida Gold Project is an 11-kilometer stretch across Tanzania, consisting of 54 mining license
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The company’s corporate structure is as follows: • Incorporated in Nevada, USA • Authorized 100,000,000 common shares; 100,000,000 preferred shares • 55,851,549 common shares issued and outstanding
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Tanzanite Most Important New Gemstone in 2,000 Years The prices of tanzanite gemstones, found only in the Kilimanjaro foothills, continue to firm, a reflection of the rarity of this royal blue to violet hued mineral and the evolution of what is still a nascent global market. Tanzanite One Limited ("TanzaniteOne"), which is also involved in the cutting, polishing and marketing of tanzanite, is the largest-scale miner of the gemstone.Within the four colours making up the Tanzania flag the Golden colour represents the country's mineral wealth.
Posts: 428 | From: Michigan | Registered: Oct 2009
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Lake Victoria Plans Detailed Exploration Prior to Selecting Gold Drill Targets at Singida-Londoni Project, Tanzania
Marketwire "Press Releases " GOLDEN, COLORADO -- (MARKET WIRE) -- 05/25/10 -- Lake Victoria Mining Company, Inc. (OTCBB: LVCA) - In preparation for drill targeting and the mobilization of a drill rig to Singida-Londoni Gold Project, detailed exploration work will begin shortly. This will maximize any dollars that may soon be spent on planning and implementation of an initial drill program on a pathway to a proven resource or gold production. Lake Victoria wishes to elaborate on the exploration works required at their Singida-Londoni project in central Tanzania.
At Singida-Londoni gold project, artisanal mining has been focused on a number of outcropping narrow gold-bearing quartz veins that strike for a length of +7km within a major northwest-southeast shear belt. These veins occur as boudins forming "pinch and swell" structures along strike within the shear zone. The shear zone has an average width of 1.4km. Electrical gradient array IP surveys (News Release 17 May 2010) indicated that a number of subsurface resistive bodies, thought to represent quartz veins, occur beneath the land surface covering some 400m width of the shear zone and as such would not have been identified by the artisanal miners. In such greenstone belts, the gold bearing quartz veins often occur as en echelon "packages" or "ladder vein sets" that may be formed within or discordant to the shear fabric. These sets often exhibit plunges or "ore shoots" and needed to be accounted for in creating the geological model and incorporated within any subsequent drill program.
In order to understand the overall distribution of subsurface gold bearing quartz veins, a soil sampling program has been designed on 400m spaced north-south sections with a sample interval of 50m to define the concentration of gold in the overlying soils. Sampling is to commence in the northwest corner of the licence in early June 2010, where a number of small scale mining licences (PMLs) are currently under exclusive option to LVCA, and continue across to the southeast corner of the project. A total of 700 samples will be initially collected and assayed for gold by Aqua Regia Digest Solvent Extraction at the SGS Laboratory in Mwanza.
The sampling program, consisting of 14 traverses amounting to 33.8 line-km, is expected to be completed by the end of the 2nd to 3rd week of June. However, samples will be submitted to the laboratory on a weekly basis and results should start to be made available by mid-June. Results are expected to indicate the presence of a number of gold-in-soil anomalies which would suggest the existence of subsurface gold bearing quartz veins and which in turn may be found to correlate with the IP anomalies. Once all the results of the program have been received, the geochemical data can be reviewed in its entirety and the implementation of the follow-up infill soil sampling can immediately begin across selected areas of the project. Currently this is planned on a 200m spaced section across the gold anomalies with the aim of further defining the concentration of gold anomalism. An additional 150 samples are expected to complete this phase of soil sampling by the end of June with results being available towards mid-July.
Mapping of the regolith, topography and soils form an integral part of the program in order to later understand the value of the soil result.
During the 1st phase of regional soil sampling, detailed mapping and channel sampling of the sidewalls of some of the artisanal pits will be undertaken in an attempt to understand the nature and structural controls of the gold bearing quartz veins. This will be further assisted by undertaking a number of short trenches of 1m wide by +10m in length, especially along strike from the mined quartz veins to determine the extend or "halo" of gold mineralization within the sheared rocks.
Once an assessment of the results of the soil geochemical sampling program has been made, trenching would be undertaken across the "eyes" of the anomalies along the north-south sections in order to further define the nature and cause of the soil anomaly as well as provide an in situ surface value of gold concentration. A total of 500 meters of trenching has been budgeted to fulfil this phase of exploration and will take 1 to 2 weeks to complete. The information, derived from detailed mapping of the trench walls, will provide invaluable insights into the geology and structure that host the gold mineralization, and in turn will contribute to the building of the geological model.
Depending upon the thickness of the overlying soils, trench depths will vary between 1 to 3m and may be up to 50 to 100m in length, especially if the results of infill soil sampling reflect a wide surface anomaly. Where saprolite is present beneath the soil or laterite cover, trench depths will commonly extend to 3m.
Although the in-situ rocks are often decomposed within the saprolite horizon, the structural imprint is often well preserved and is measurable. Horizontal channel samples of 2m will be collected along the sidewall just above the base of the trench and submitted for Fire Assay analysis at SGS Laboratory, Mwanza.
All these work results could later be incorporated into an ore resource calculation should it be found from subsequent drilling that a resource is present, with the aim of establishing an initial inferred resource that would be acceptable within the guidelines of the CIM 43-101 reporting practises.
Positive drill results will represent an important milestone for Lake Victoria on the path towards a proven resource or gold production.
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Lake Victoria's Live Conference Call Today at 4:05PM EST Will Discuss the Company's Strategic Plans and Focus With President, Dr. Roger Newell Ph.d and Clive King, Senior Geological Consultant
Marketwire "Press Releases " GOLDEN, COLORADO -- (MARKET WIRE) -- 05/25/10 -- (OTCBB: LVCA) - Lake Victoria invites the first 96 callers to join the company's President, Dr. Roger Newell and Clive King, Senior Geological Consultant, today live, to hear the company's strategic plans and focus for the next 3 months, 6 months and one year.
Answers to the following questions and more will be discussed:
Where is the Company's focus?
Is the Company focused solely on the Singida-Londoni gold project or is there other potential within Lake Victoria's property portfolio?
Does the company's management have what it takes to lead the company to financial success?
How soon does the company expect to have a gold reserve?
What can shareholders look forward to over the next 12 months?
Join us live today Tuesday, May 25, 2010 at 4:05 PM EST by calling: 1-218-336-3900 Room: 767741#
Posts: 364 | Registered: Mar 2010
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LVCA - Seems to be ALOT of mailers lately. StockTwitter.com and some other major mailers are focusing on this. For us we are playing cautiously since we know when alot of mailers are on it, there are alot of people looking to make money. Profit is Profit and we will be playing accordingly. The news flow for LVCA keeps coming so for those who are investing there, the company seems to be doing everthing right and performing and completing everything it said it would.
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With the news that came out there were some good question they are going to answer. Cant wait untill the answers come out.
Posts: 364 | Registered: Mar 2010
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