With record highs and rising values, 2020 has been a good year for the gold market 
and the same can be said for Canadian junior gold exploration Company Tembo Gold Corp. (TSX-V:TEM, OTC: TBGPF, Forum).
TEM’s chief asset is its gold project in Africa, of which it has a 100% interest in this significant contiguous land package in the prolific, but underexplored Lake Victoria goldfield in northern Tanzania. It is there, where the Company is working to expand upon the development of this gold discovery.
In
an August 2020 media release updating these fresh results, Tembo’s President and CEO, David Scott explained for investors that the Company’s leadership team is confident that there are still many good discoveries to be found in Tanzania.
“The Tembo project lies within one of the most prospective greenstone belt fragments and significant discoveries are anticipated. The Lake Victoria greenstone belts and goldfield rank highly in discovered ounces per km2 worldwide and Tembo is in the heart of it. We are developing a technically cautious but aggressive strategy to explore the license area and will be informing our shareholders and supporters shortly of these plans.”
Tembo has touted that to date, its team has seen outstanding results exploring more than 50,000 metres of diamond drilling and reverse circulation drilling and that was from a limited extent of the total prospective area.
Examples of significant initial drill results (with best intercepts) include:
- TDD0005: 10.76 g/t Au over 4.00m, including 93.3 g/t gold over 0.38m
- TDD0054: 8.17g/t Au over 11.05m
- TRC0013: 16.10 g/t Au over 3.00m
- TRC0423: 10.17g/t Au over 6m from 36.0m including 19.1g/t gold over 3m
Having just closed recent financing, Tembo Gold is in a stable position to accelerate this new engagement of its Tembo project. The Company’s Chief Financial Officer, Simon Benstead noted that
- “With cash in the bank, a clean balance sheet and a consolidated capital structure we are very well positioned to move forward with a stated goal of identifying a multi-million-ounce resource.”
The Company's licenses are located immediately alongside Barrick Gold’s Bulyanhulu Mine, where more than 20 million ounces of gold mined to date and in resource. Tembo’s chief goal is to pursue the discovery of one or more multimillion-ounce deposits within its current licence area, similar to the five deposits which make up Barrick Gold’s Bulyanhulu mine.
As the Company advances its exploration strategy, it has brought leading technical consultants on board to review, interpret and re-evaluate results to date, with a view to define these new targets and re-assess other targets that have returned promising initial drill results. Tembo is drafting work programs and budgets that are specifically tailored to execute the recommendations from the technical review. Drilling is provisionally scheduled to begin in Q4 2020.
Led by its executive team with deep experience in developing, financing, and operating mining projects in Africa, the Company has maintained a tightly held capital structure and a clean balance sheet and investors should dig a little deeper into Tembo Gold Corp. and conduct further due diligence to see what this stock has to offer as it capitalizes on a rich asset during this great time for gold.
To find out more, visit the Company’s website at
tembogold.com.
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FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.