# LAKE VICTORIA GOLD ANNOUNCES MAIDEN MINERAL RESOURCE AT TEMBO OF 480,100 INFERRED AND 99,700 INDICATED OUNCES, ADJACENT TO BARRICK'S BULYANHULU MINE

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d

Original source: https://money.tmx.com/en/quote/LVG/news/4652894019880770/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre

Publisher: tmx

Original announcement: 2026-08-11T14:21:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Lake Victoria Gold Ltd.

- Ticker: LVG

- Exchange: TSX

- Region: northwestern Tanzania

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update

- Extracted: 2026-09-14 10:28:38 UTC

Narrative sentiment: 0.70 · Bullish

## Minestarters Atlas summary

Lake Victoria Gold has announced a maiden NI 43-101 compliant Mineral Resource Estimate for its 100%-owned Tembo Gold Project in northwestern Tanzania. The estimate comprises 99,700 Indicated ounces and 480,100 Inferred ounces of gold, demonstrating a significant higher-grade component at a 1.00 g/t cut-off. The company plans close-spaced drilling at Ngula 1 to improve confidence and support mine planning, with potential for near-term production via a toll-milling initiative.

Reasoning: The maiden NI 43-101 compliant Mineral Resource Estimate for the Tembo Gold Project establishes a significant gold resource, including a substantial indicated component and a higher-grade core, providing a strong foundation for future development and exploration. The grades are strong for an open-pit scenario, and the resource is adjacent to a major mine.

- Positive factor: Maiden Resource

- Positive factor: Contained Metal Growth

- Positive factor: Grade Improvement

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

- Negative factor: Nearology Play

Facts used in scoring: 7

## Classification and evidence

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.

Why it applies: The document announces a 'maiden National Instrument 43-101 Mineral Resource Estimate' for the Tembo Gold Project.

Evidence · text

> maiden National Instrument 43-101 \("NI 43-101"\) Mineral Resource Estimate \("MRE"\)

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The resource estimate includes a significant 'Inferred Mineral Resource of 13.33 Mt at 1.12 g/t gold containing 480,100 ounces'.

Evidence · text

> Inferred Mineral Resource of 13.33 Mt at 1.12 g/t gold containing 480,100 ounces

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The resource estimate includes an 'Indicated Mineral Resource of 2.69 Mt at 1.16 g/t gold containing 99,700 ounces'.

Evidence · text

> Indicated Mineral Resource of 2.69 Mt at 1.16 g/t gold containing 99,700 ounces

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The Technical Report supporting the MRE was prepared by independent Qualified Persons Noleen D. Pauls and Dean Richards.

Evidence · text

> The Technical Report supporting the MRE was prepared by independent Qualified Persons Noleen D. Pauls \(M.Sc., Pr. Sci. Nat., FGSSA\) and Dean Richards \(B.Sc. \(Hons\), Pr. Sci. Nat., MGSSA\) of Obsidian Consulting Services

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The MRE was prepared in accordance with National Instrument 43-101.

Evidence · text

> prepared in accordance with NI 43-101

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: Mineral Resources are reported at a cut-off grade of 0.25 g/t Au.

Evidence · text

> Mineral Resources are reported at a cut-off grade of 0.25 g/t Au

**Nearology Play**

Polarity: neutral

Story-specific tag

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: The project is described as 'adjacent to Barrick's Bulyanhulu Mine', leveraging its proximity to a known deposit.

Evidence · text

> adjacent to Barrick's Bulyanhulu Mine

## Extracted facts

Stored fact records: 7. Some facts used in scoring do not have a stored record.

## Resource Estimates (7)

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d#fact-resource-facts-0)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-05-29T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Noleen D. Pauls, Dean Richards
- Resource group id: resource:f7b314600dcfc1d73295
- Deposit or zone: Ngula 1
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: indicated
- Tonnes: 1780000
- Grade: 1.1
- Grade Unit: g/t
- Contained Metal: 62700
- Contained Unit: oz
- Cutoff Grade: 0.25
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: This is a portion of the maiden Indicated resource for the Ngula 1 deposit, contributing to the overall project's confidence and scale.

- Positive factor: Indicated Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

Evidence · table

> 1.10

Context: 1.78

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d#fact-resource-facts-1)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-05-29T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Noleen D. Pauls, Dean Richards
- Resource group id: resource:b7a6363c252aa180003d
- Deposit or zone: Nyakagwe Village
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: indicated
- Tonnes: 910000
- Grade: 1.27
- Grade Unit: g/t
- Contained Metal: 37000
- Contained Unit: oz
- Cutoff Grade: 0.25
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: This is a portion of the maiden Indicated resource for the Nyakagwe Village deposit, contributing to the overall project's confidence and scale.

- Positive factor: Indicated Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

Evidence · table

> 1.27

Context: 0.91

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d#fact-resource-facts-2)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-05-29T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Noleen D. Pauls, Dean Richards
- Resource group id: resource:d846a6df994328f50963
- Deposit or zone: Total Indicated
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: indicated
- Tonnes: 2690000
- Grade: 1.16
- Grade Unit: g/t
- Contained Metal: 99700
- Contained Unit: oz
- Cutoff Grade: 0.25
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: This represents the total maiden Indicated resource for the Tembo Gold Project, establishing a significant portion of the overall resource with good confidence.

- Positive factor: Indicated Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

Evidence · table

> 1.16

Context: 2.69

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d#fact-resource-facts-3)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-05-29T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Noleen D. Pauls, Dean Richards
- Resource group id: resource:aebc6f5590fa1ac8a230
- Deposit or zone: Ngula 1
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 8120000
- Grade: 1.03
- Grade Unit: g/t
- Contained Metal: 267900
- Contained Unit: oz
- Cutoff Grade: 0.25
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: This is a significant portion of the maiden Inferred resource for the Ngula 1 deposit, providing substantial exploration upside but with lower geological confidence.

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 1.03

Context: 8.12

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d#fact-resource-facts-4)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-05-29T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Noleen D. Pauls, Dean Richards
- Resource group id: resource:e5d5d057045925fde3e9
- Deposit or zone: Nyakagwe Village
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 4710000
- Grade: 1.3
- Grade Unit: g/t
- Contained Metal: 197100
- Contained Unit: oz
- Cutoff Grade: 0.25
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: This is a portion of the maiden Inferred resource for the Nyakagwe Village deposit, contributing to the overall project's exploration potential.

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 1.30

Context: 4.71

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d#fact-resource-facts-5)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-05-29T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Noleen D. Pauls, Dean Richards
- Resource group id: resource:5fe405250a258d3ceb61
- Deposit or zone: Nyakagwe East
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 510000
- Grade: 0.93
- Grade Unit: g/t
- Contained Metal: 15200
- Contained Unit: oz
- Cutoff Grade: 0.25
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: This is a smaller portion of the maiden Inferred resource for the Nyakagwe East deposit, adding to the overall project's exploration potential.

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 0.93

Context: 0.51

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--3a70daa8-515b-4dea-a6cc-e61ee06f606d#fact-resource-facts-6)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-05-29T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Noleen D. Pauls, Dean Richards
- Resource group id: resource:7ef6f4f9313786156e84
- Deposit or zone: Total Inferred
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 13330000
- Grade: 1.12
- Grade Unit: g/t
- Contained Metal: 480100
- Contained Unit: oz
- Cutoff Grade: 0.25
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: This represents the total maiden Inferred resource for the Tembo Gold Project, providing substantial exploration upside and contributing significantly to the overall project scale, though with lower geological confidence.

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 1.12

Context: 13.33

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.