March 13, 2012 Toronto, Ontario – Tembo Gold Corp. (TSX-V: TEM) ("Tembo", or the "Company) – is pleased to announce the first assay results from its initial drilling at the Tembo Project in the Lake Victoria goldfield of Tanzania. Drilling at the first target consisted of 12 drill-holes, 6 reverse circulation (RC) and 6 Diamond drilling (DD) on alternate section lines 100m apart along a 500m strike length. The goal of the drill program was to test for multiple mineralized structures at 50 and 100m depths beneath artisanal workings.
To date assay results from 7 holes (3 reverse circulation and 4 Diamond drill), have been received and are reported below, assays for the remaining 5 holes are pending and will be reported on as soon as they become available.
Highlights Include:
- TDD0004: 3.13g/t Au over 25.89m including 8.87g/t Au over 3.89m;
- TDD0005: 10.76g/t Au over 4.00m, including 93.3 g/t Au over 0.38m and;
- TRC0013 16.10g/t Au over 3.00m and 4.01g/t Au over 3.00m.
Tembo Gold President & CEO, David Scott stated, “We are very excited by these initial drill results as they reinforce our strategy of targeting magnetic lineaments which have significant artisanal activity at surface. These early drill results were beyond our expectations and dramatically illustrate and confirm the potential for widespread high grade gold mineralization throughout the Tembo project area. Given these very positive results, follow up deeper drilling is being planned to target mineralization at 100m depth intervals down to 500m on this target. We are also pleased to report that 4 additional drill rigs have been ordered and are en route to site.”
To view the entire news release, please click here.
Regards,
Dave Doherty
T: 604 315 1237
dave@informcapital.com
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Gold One is a gold development stage company based in South africa. Its main assets in production are SUB NIGEL & SPAARWATER and MODDER EAST in South Africa and its main exploration properties are NEW KLEINFONTEIN & TURNBRIDGE, HOLFONTEIN and VENTERSBURG in South Africa and ETENDEKA in Namibia. Gold One is listed in Australia, in Germany, in South Africa and in United States of America. Its market capitalisation is AU$ 242.1 millions as of today (US$ 213.2 millions, € 156.2 millions). Its stock quote reached its lowest recent point on April 03, 2009 at AU$ 0.01, and its highest recent level on May 15, 2009 at AU$ 12.00. Gold One has 807 080 905 shares outstanding. |