# 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--98d64a13-6738-4362-99b6-c3ed610fc4f6

Original source: https://money.tmx.com/en/quote/LVG/news/5869324431694914/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre

Publisher: tmx

Original announcement: 2026-08-11T07:01:00.000Z

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 10:29:33 UTC

Narrative sentiment: 0.70 · Bullish

## Minestarters Atlas summary

Lake Victoria Gold 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 at 1.16 g/t gold and 480,100 Inferred ounces at 1.12 g/t gold, reported at a 0.25 g/t gold cut-off within conceptual open-pit shells. The company highlighted a higher-grade component and plans for close-spaced drilling at the Ngula 1 deposit to improve confidence and support mine planning.

Reasoning: Lake Victoria Gold announced a maiden NI 43-101 compliant Mineral Resource Estimate for its Tembo Gold Project, establishing 99,700 Indicated ounces and 480,100 Inferred ounces of gold. The estimate includes a higher-grade component and is strategically located adjacent to a major operating mine, providing a foundation for future development and growth.

- Positive factor: Maiden NI 43-101 compliant Mineral Resource Estimate establishes a significant gold resource.

- Positive factor: The project is strategically located adjacent to Barrick's Bulyanhulu Mine, indicating district potential.

- Positive factor: Identification of a meaningful higher-grade component within the resource provides development flexibility.

- Positive factor: Ngula 1 deposit, hosting the majority of Indicated ounces, is prioritized for close-spaced drilling and resource conversion.

- Positive factor: The resource is reported within conceptual open-pit shells, suggesting potential for open-pit mining.

- Negative factor: A significant portion of the resource \(83%\) is in the Inferred category, indicating lower geological confidence.

- Negative factor: Average grades for both Indicated \(1.16 g/t\) and Inferred \(1.12 g/t\) resources at the base cut-off are relatively low compared to global averages, though a higher-grade core exists.

Low confidence — this extraction should be reviewed alongside the original source.

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 explicitly states this is a 'Maiden Mineral Resource Estimate'.

Evidence · text

> Lake Victoria Gold Announces Maiden Mineral Resource at Tembo

**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

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

**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: Independent Qualified Persons Noleen D. Pauls and Dean Richards prepared the Technical Report and MRE.

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\)

**Inferred Resource**

Polarity: negative

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

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

Evidence · text

> an 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 MRE includes an 'Indicated Mineral Resource of 2.69 Mt at 1.16 g/t gold containing 99,700 ounces'.

Evidence · text

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

**Cut-off Disclosed**

Polarity: positive

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

Why it applies: The resource is reported at a clear '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

**Adjacent to Major Mine**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The project is described as 'immediately adjacent to Barrick's Bulyanhulu Mine'.

Evidence · text

> immediately adjacent to Barrick's Bulyanhulu Mine

**Higher-Grade Component**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The document highlights a 'meaningful higher-grade component' at a 1.00 g/t cut-off.

Evidence · text

> demonstrating a meaningful higher-grade component

**Open Pit Potential**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: Mineral Resources are reported 'within conceptual open-pit shells'.

Evidence · text

> within conceptual open-pit shells

## 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--98d64a13-6738-4362-99b6-c3ed610fc4f6#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

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

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

Reasoning: This Indicated resource at Ngula 1 contributes to the maiden MRE, providing a foundation for future mine planning and resource conversion.

- Positive factor: Part of a maiden NI 43-101 compliant MRE.

- Positive factor: Indicated category provides reasonable geological confidence.

- Positive factor: Ngula 1 is a key deposit, prioritized for future development.

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--98d64a13-6738-4362-99b6-c3ed610fc4f6#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

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

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

Reasoning: This Indicated resource at Nyakagwe Village contributes to the maiden MRE, adding to the overall Indicated ounces.

- Positive factor: Part of a maiden NI 43-101 compliant MRE.

- Positive factor: Indicated category provides reasonable geological confidence.

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--98d64a13-6738-4362-99b6-c3ed610fc4f6#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

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

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

Reasoning: The total Indicated resource of 99,700 ounces establishes a significant portion of the maiden MRE with good confidence.

- Positive factor: Represents the total Indicated resource for the maiden MRE, providing a solid foundation.

- Positive factor: Indicated category offers reasonable geological confidence for future studies.

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--98d64a13-6738-4362-99b6-c3ed610fc4f6#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

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

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

Reasoning: This Inferred resource at Ngula 1 forms a substantial part of the maiden MRE, offering significant potential for future upgrades through infill drilling.

- Positive factor: Part of a maiden NI 43-101 compliant MRE.

- Positive factor: Ngula 1 is a key deposit, prioritized for future development and resource conversion.

- Negative factor: Inferred category has lower geological confidence.

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--98d64a13-6738-4362-99b6-c3ed610fc4f6#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

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

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

Reasoning: This Inferred resource at Nyakagwe Village contributes significantly to the overall Inferred ounces in the maiden MRE.

- Positive factor: Part of a maiden NI 43-101 compliant MRE.

- Negative factor: Inferred category has lower geological confidence.

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--98d64a13-6738-4362-99b6-c3ed610fc4f6#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

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

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

Reasoning: This Inferred resource at Nyakagwe East adds to the overall Inferred ounces in the maiden MRE, though it is a smaller component.

- Positive factor: Part of a maiden NI 43-101 compliant MRE.

- Negative factor: Inferred category has lower geological confidence.

- Negative factor: Smallest component of the 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--98d64a13-6738-4362-99b6-c3ed610fc4f6#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

#### Prior Estimate

- Resource Date: 2026-05-29

#### Review

- Needs Review: No
- Historical: No

#### Dates

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

Reasoning: The total Inferred resource of 480,100 ounces forms the largest component of the maiden MRE, providing significant exploration upside and potential for future conversion.

- Positive factor: Represents the total Inferred resource for the maiden MRE, establishing a large gold inventory.

- Negative factor: Inferred category has lower geological confidence and requires further drilling for upgrade.

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.