Tembo Gold Corp. (TSX VENTURE:TEM) (OTCQX:TBGPF)(FRANKFURT:T23) ("Tembo" or the "Company") is pleased to report the results from the first of a planned series of close-spaced drill holes at the Ngula 1 target at its Tembo Gold Project in the Lake Victoria goldfield of Tanzania. Hole TRC0003 was drilled to test the lateral continuity of a wide zone of mineralization previously intersected and reported (March 13th, 2012) in diamond drill hole, TDD0004, which returned, 3.13 g/t gold over 25.89m.
It is interpreted that in a 150m wide east-west structural corridor at Ngula 1, there are at least two wide structural deformation zones that host mineralization. Drill holes TRC003 and TDD0004 intersected the zone that is interpreted as the large structure in the southern half of the structural corridor at Tembo. Meanwhile, hole TDD0041, reported January 15th, 2013, which was the first deep hole at Ngula 1, returned 22.81 g/t gold over 15.00m at a downhole depth of 299m, and is interpreted to have intersected the large structure in the northern half of this structural corridor.
Highlights of the latest drill results include:
- TRC0003: 4.73 g/t gold over 23.00m from a downhole depth of 54.00m including 28.57 g/t gold over 3.00m and 5.28 g/t gold over 4.00m.
Tembo Gold President & CEO, David Scott stated: "This drill hole is the first close-spaced hole drilled at Ngula 1 that is designed to test the continuity of the mineralized zones intersected in the 2012 drilling campaign. The planned series of closer-spaced drill holes will provide us with the density of data we require to enable us to undertake geological modeling and resource definition. The widths and grades encountered in this hole, that correlate well with hole TDD0004, are at a shallow depth and suggest that a resource may be defined at Ngula 1 that could be considered for open pit exploitation. The results also show that where the shear structures are mineralized with gold, there is typically a high-grade core to the mineralization. This implies that there is potential to identify deeper high-grade resources in the future that could be economically exploited by an underground operation."
To view the entire news release, please click here.
Regards,
Brett Allan
T: 416-907-4148
ballan@apexcap.ca
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Gold One est une société développant des projet miniers d'or basée en Afrique Du Sud. Ses principaux projets en production sont SUB NIGEL & SPAARWATER et MODDER EAST en Afrique Du Sud et ses principaux projets en exploration sont NEW KLEINFONTEIN & TURNBRIDGE, HOLFONTEIN et VENTERSBURG en Afrique Du Sud et ETENDEKA en Namibie. Gold One est cotée aux Etats-Unis D'Amerique, en Australie, en Afrique Du Sud et en Allemagne. Sa capitalisation boursière aujourd'hui est 242,1 millions AU$ (213,2 millions US$, 156,2 millions €). La valeur de son action a atteint son plus bas niveau récent le 03 avril 2009 à 0,01 AU$, et son plus haut niveau récent le 15 mai 2009 à 12,00 AU$. Gold One possède 807 080 905 actions en circulation. |