#Tanzania #Lake Victoria Gold #Imwelo Project #Tanzania Gold #Geita Region

Lake Victoria Gold Completes Infrastructure Works at Imwelo Gold Project

Lake Victoria Gold Ltd. has recently announced substantial developments regarding its wholly owned Imwelo Gold Project, located in Tanzania's Geita Region. The company has successfully completed initial access road repairs and has advanced various essential site earthworks, which together form a key foundation for upcoming construction phases.

Access Road Repairs

In the lead-up to the rainy season, which typically begins in late October or November, Lake Victoria Gold prioritized critical repairs on the access road connecting Katoro, the nearest large town, to Imwelo village. Over a 14-kilometer stretch, initial spot repairs have been executed effectively, aimed at improving transportation routes not only for materials and equipment but also for local communities. Compaction of these repaired sections is ongoing to ensure durability and safety.

The repairs were executed by a local Tanzanian contractor, overseen by Lake Victoria Gold and in collaboration with the Tanzania Rural and Urban Roads Agency. Utilizing quality laterite sourced within the mining license area, the work has focused on the most affected sections, ensuring reliable transport for both supplies and personnel during the upcoming wet season.

Site Infrastructure Development

As part of the preparations at the site, significant progress has been made in clearing, stripping, and leveling critical areas that will facilitate future operations, such as the pit, tailings storage facilities, and waste rock dumps. At present, bush clearing is actively taking place in Area C, followed by efforts directed towards the process plant area. The topsoil is being methodically stockpiled to construct berms that will act as sound barriers between production areas and future camps.

Essentially, the process of stripping and leveling the run of mine (ROM) pad has commenced, utilizing excavated material to help build necessary infrastructure. Following the completion of these earthworks, a focus will shift to preparing the process plant platform and the tailings storage facility (TSF).

Construction Camp Progress

The construction camp at the Imwelo site is nearing completion, equipped with core utilities, drainage systems, and amenities. The camp is strategically designed to transition into a permanent operations facility, which will streamline operational efficiency by eliminating redundancy in construction costs. Notably, this build-once approach aligns with the company's commitment to disciplined capital deployment in the project's progression.

The completion of electrical installations, the completion of bathroom facilities, and the pressure-testing of the water system mark significant milestones in the camp's establishment, reinforcing the infrastructure necessary for long-term operations.

Management Insights

Reflecting on these developments, Marc Cernovitch, President and CEO of Lake Victoria Gold, expressed optimism about the ongoing progress. He emphasized that these early works signify a critical transition point for the Imwelo project, now regarded as construction-ready. Reliable site access and the preparatory work being conducted represent essential elements toward moving the project closer to production.

He noted, “These steps not only demonstrate our dedication to advancing our operations but also to supporting the surrounding communities through enhanced infrastructure.”

Forward-Looking Statements

However, it is important to note that while the Imwelo Project has undergone preliminary economic assessments, it has not yet completed a full feasibility study to establish the economic and technical viability of the mineral reserves. Therefore, any decision to commence production carries inherent risks including potential variations in mineral grade, operational challenges, and regulatory hurdles.

Overall, Lake Victoria Gold is laying a strong foundation at the Imwelo Gold Project, preparing for what promises to be an exciting phase of development and growth in the thriving gold sector of Tanzania.

About Lake Victoria Gold Ltd.

As a growing exploration and development company in the mining sector, Lake Victoria Gold focuses on expanding its reach within the resource-rich Lake Victoria Goldfield in Tanzania. With complete ownership of two key projects — Tembo and Imwelo — the company is positioned for significant advancements in the market.

Backed by experienced management and strategic partnerships, Lake Victoria Gold continues to pursue new opportunities while building upon its established assets, underscoring its goal of becoming a leading player in Tanzania's gold mining industry.