Vancouver, British Columbia--(Newsfile Corp. - February 8, 2022) - Tembo Gold Corp. (TSXV: TEM) ("Tembo" or the "Company") is pleased to advise that pending final approval from the Tanzanian Mining Commission a drill contractor has been selected to commence a drill program. Refurbishment work is ongoing at Company's camp facility and will be completed prior to mobilisation in February. Initial drill hole planning is well underway on the priority target Ngula 1, and further holes will be designed on return of results from the initial holes.
Highlights
- The Company through its subsidiary Mineral Industry Promotion and Consulting Co Ltd (MIP) with the assistance of Above Ground Advisory, the Company's local content compliance consultant, have completed the government process to obtain Mining Commission drilling contractor approval and the final approval is awaited.
- The exploration camp refurbishment is ongoing and is scheduled for completion in mid-February, with the core yard, office, and accommodation facilities fully functional. The drill contractor will be establishing their camp adjoining that of the Company and share utility facilities including security, power and water.
- Preliminary drillhole planning for the priority target at Ngula 1 is in process with the initial holes planned to target follow up to drillhole TDD0041, which returned an exceptional result of 22.18g/t Au over an intersection width of 15.00m, drillhole TDD0054 with an intersection of 8.12g/t Au over 11.05m, TDD0005 with 8.5g/t Au over 5.14m, TDD0004 with 28.57g/t Au over 3.00m, TRC0013 with 17.23g/t Au over 3.00m, and a number of other encouraging holes.
- The drillholes will target structural orientation of the mineralised structures and then follow these mineralised zones up and down dip and along strike, aiming to develop a resource model when sufficient data has been collected.
- Additional drill holes will also test new targets identified by the recent GoldSpot target generation exercise (please see press release dated June 1, 2021) and it is anticipated that these holes will provide evidence of further potential through the collection of relevant data including alteration, mineralisation and structural control along identified structures.
- The drill programme planned for 2022 will comprise 7,000m of diamond drilling and 5,000m of reverse circulation drilling.
David Scott, President & CEO, stated, "With the signing of the recent license and share purchase agreements with Barrick Gold's subsidiary Bulyanhulu Mine, and the consequent funding following closure of the agreement once all regulatory approvals, and other closing conditions are met, we are eagerly looking forward to seeing drills on the ground and exploration activity on our ground and the neighboring licenses. This long-awaited re-commencement of exploration will be gratifying to all those who have cooperated to keep Tembo and its prospects alive."
QA/QC
A QA/QC practice is applied to all sample batches. All samples are securely sealed and sample batches bagged for transport to SGS laboratories in Mwanza. A Verified Reference Material standard is inserted every 20th sample, a known blank or blank standard every 20th sample and all samples with assays greater than 0.5 g/t Au are re-assayed. 1% of all samples are submitted to an alternative laboratory for check analysis. In addition, the laboratory adheres to an internal QA/QC procedure including standard samples and repeats and blanks inserted independently. The coarse residue and pulps are retained for further analysis and verification.
The above information has been prepared under the supervision of David Scott, Pr. Sci. Nat., who is designated as a "Qualified Person" with the ability and authority to verify the authenticity and validity of the data.
Notes to the above drill results:
- Widths represent drill intersection widths not corrected for drill hole inclination and dip of the geological zone. True widths have not been determined.
- Drill holes have not been drilled in numerical sequence and not all drill holes in a sequence have necessarily been drilled. Drill hole numbers represent the original drill hole identification assigned when planned.
- No capping of high-grade values has been applied to the assay results.
About Tembo Gold Corp.
Tembo is a Canadian publicly listed mineral exploration company (TEM on the TSX Venture Exchange) with a 100% interest in the Tembo Gold Project. Tembo's focus is the discovery and development of gold projects in Africa. The Company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa. The Company's exploration strategy is to discover mineral resources as well as continue to look for additional opportunities that can bring value to the Company and shareholders.
On Behalf of the Board of Directors of Tembo,
David Scott
President & CEO
Phone: +255 767 366 146
Email: dscott@tembogold.com
For more information please contact:
Simon Benstead
Director & VP Corporate Development
Phone: 604-685-9316
Email: investors@tembogold.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often,but not always, identified by the use of words such as "seek", "anticipate; "plan", "continue; "estimate; "expect", "may, "will", "intend", "could", "might", "should", "believe" and similar expressions. This news release contains forward-looking statements, including, without limitation, the anticipated filing date for the Required Filings. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include that the Company does not file its Required Filings by the anticipated date. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.
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