TORONTO, ONTARIO -- (Marketwired) -- 04/26/13 -- Tembo Gold Corp. (TSX VENTURE: TEM)(OTCQX: TBGPF)(FRANKFURT: T23) ("Tembo", or the "Company) is pleased to report additional results from its 2012 recent drill program on the Tembo Property in the Lake Victoria goldfield of Tanzania. These additional diamond drill holes and shallow, close-spaced reverse circulation (RC) holes from the Ngula 1 target were drilled as part of the Phase 1 drilling program on the Tembo property designed to test the continuity of the mineralized zones intersected earlier in the 2012 diamond drilling campaign. These results support the high-grade results previously reported from this target area.
Highlights of the latest drill results include:
-- TRC0001: 38.20g/t Au over 1.00m from 85m -- TRC0008: 3.75g/t Au over 6.00m from 35m -- TDD0146: 10.70g/t Au over 1.00m from 308m
David Scott President & CEO stated, "These drill hole results form part of both the Ngula 1 in-fill diamond drilling programme and the first close-spaced RC programme that is designed to test the continuity of the mineralized zones intersected in the 2012 diamond 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 data obtained from these holes will provide additional confidence in correlating and interpreting the structures and mineralization present at Ngula 1. Given the results obtained in the deepest Ngula 1 intersection to date (TDD0041 - which returned, 22.81g/t Au over 15.00m from 299.00m including 34.78g/t Au over 9.70m from 302.30m as previously reported), completion of the close spaced drilling programme will be deferred in favour of further testing of the deposit at depth."
The Ngula 1 Target
The Ngula 1 target consists of a 600m long, 150-200m wide corridor of massive and locally intensely sheared mafic meta-volcanic rocks bounded to the north and south by thin meta-sedimentary units. This package contains numerous intensely deformed, veined and altered shear structures that typically have elevated gold values. Based on the structural intersections achieved to date, the current interpretation is that the corridor of deformed meta-volcanic rocks contains two wide shear zones, one in the northern half and one in the southern half. A single section through the package may host as many as 5-10 such structures ranging in width from less than one metre to several tens of metres. The structures are predominantly steeply north dipping and are thought to represent sub-parallel and often interconnecting splays and subsidiary structures to the principle east-west shears, with secondary cross-cutting northwest and northeast structures also present. Zones of intersection and convergence are considered to be the favoured location for wider zones of mineralization and higher grades. Gold mineralization is closely associated with quartz veining, alteration and disseminated sulphides, which include dominant pyrrhotite, and lesser pyrite and chalcopyrite. The stronger and more sulphide rich structures (pyrrhotite) are interpreted to correspond closely to lineaments that are evident in the structural interpretation of magnetic imagery.
Drill Program
The drilling program initially consisted of alternating 100m-spaced diamond and reverse circulation drill hole sections drilled from the south targeting the zones at vertical depths of approximately -50m, -100m, -150 and -200m, and 100m-spaced diamond hole drill sections drilled from the north to similar depths. Recent deeper drilling has intersected wide zones of high-grade gold mineralization at a vertical depth of approximately 250m and deeper drilling down through 500m is currently being planned. Based on geological interpretation of deposition conditions at the time of mineralization, deeper drilling is expected to return more consistent and laterally extensive good results as achieved in TDD0041 which returned, 22.81g/t Au over 15.00m from 299.00m including 34.78g/t Au over 9.70m from 302.30m, (previously reported), as was the case at the adjacent mine Bulyanhulu Mine during the discovery drilling program.
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/TEM0426.pdf
Table 1: Additional drilling results from drilling at Ngula 1
--------------------------------------------------------------------------
Width Au g/t Width Au g/t
From To Width Au g/t greater than greater than
BH ID (m) (m) (m) 0.50g/t 2.00g/t
--------------------------------------------------------------------------
TDD0133 15.86 16.64 0.78 0.84 0.78 0.84
35.00 36.00 1.00 2.37 1.00 2.37
90.00 91.00 1.00 0.73 1.00 0.73
132.65 133.32 0.67 1.40 0.67 1.40
176.38 177.00 0.62 4.81 0.62 4.81
223.00 223.67 0.67 1.76 0.67 1.76
--------------------------------------------------------------------------
TDD0145 194.50 195.00 0.50 1.01 0.50 1.01
-----------------------------------------------------------------
209.00 209.50 0.50 0.62 2.00 1.17
209.50 210.00 0.50 1.85
210.00 210.50 0.50 1.12
210.50 211.00 0.50 1.10
-----------------------------------------------------------------
235.00 236.00 1.00 0.90 1.00 0.90
--------------------------------------------------------------------------
253.00 254.00 1.00 0.59 1.00 0.59
-----------------------------------------------------------------
267.00 267.50 0.50 5.53 3.50 2.14
267.50 268.00 0.50 4.60
268.00 268.50 0.50 0.56
268.50 269.00 0.50 0.52
269.00 269.50 0.50 0.29
269.50 270.00 0.50 0.91
270.00 270.50 0.50 2.57
--------------------------------------------------------------------------
TDD0146 18.00 19.00 1.00 1.37 1.00 1.37
-----------------------------------------------------------------
76.00 77.00 1.00 1.55 1.00 1.55
-----------------------------------------------------------------
79.60 80.10 0.50 1.40 0.50 1.40
-----------------------------------------------------------------
167.90 168.40 0.50 3.51 1.50 2.35
168.40 168.90 0.50 2.09
168.90 169.40 0.50 1.46
-----------------------------------------------------------------
307.50 308.00 0.50 1.19 2.50 4.77
----------------
308.00 309.00 1.00 10.70 1.00 10.70
----------------
309.00 310.00 1.00 0.63
-----------------------------------------------------------------
352.00 353.00 1.00 0.54 1.00 0.54
--------------------------------------------------------------------------
TRC0001 46.00 47.00 1.00 2.15 3.00 1.76 1.00 2.15
----------------
47.00 48.00 1.00 1.93
48.00 49.00 1.00 1.19
-----------------------------------------------------------------
85.00 86.00 1.00 38.20 1.00 38.20
-----------------------------------------------------------------
93.00 94.00 1.00 1.03 2.00 1.17
94.00 95.00 1.00 1.31
--------------------------------------------------------------------------
TRC0002 8.00 9.00 1.00 4.59 2.00 2.58 1.00 4.59
----------------
9.00 10.00 1.00 0.57
-----------------------------------------------------------------
36.00 37.00 1.00 2.74 1.00 2.74
-----------------------------------------------------------------
52.00 53.00 1.00 0.90 5.00 1.29
53.00 54.00 1.00 0.50
----------------
54.00 55.00 1.00 3.77 1.00 3.77
----------------
55.00 56.00 1.00 0.73
56.00 57.00 1.00 0.55
-----------------------------------------------------------------
70.00 71.00 1.00 0.61 1.00 0.61
--------------------------------------------------------------------------
TRC0007 13.00 14.00 1.00 0.88 2.00 0.99
14.00 15.00 1.00 1.09
-----------------------------------------------------------------
40.00 41.00 1.00 0.65 1.00 0.65
-----------------------------------------------------------------
72.00 73.00 1.00 1.60 2.00 1.31
73.00 74.00 1.00 1.02
--------------------------------------------------------------------------
TRC0008 9.00 10.00 1.00 5.18 1.00 5.18
-----------------------------------------------------------------
35.00 36.00 1.00 0.88 6.00 3.75
36.00 37.00 1.00 0.89
37.00 38.00 1.00 4.56
38.00 39.00 1.00 2.53
39.00 40.00 1.00 11.50
40.00 41.00 1.00 2.12
-----------------------------------------------------------------
50.00 51.00 1.00 2.48 1.00 2.48
-----------------------------------------------------------------
74.00 75.00 1.00 0.84 2.00 1.34
75.00 76.00 1.00 1.83
--------------------------------------------------------------------------
TRC0016 41.00 42.00 1.00 0.65 1.00 0.65
-----------------------------------------------------------------
122.00 123.00 1.00 1.01 1.00 1.01
--------------------------------------------------------------------------
TRC0022 110.00 111.00 1.00 1.17 1.00 1.17
-----------------------------------------------------------------
132.00 133.00 1.00 0.55 2.00 2.26
133.00 134.00 1.00 3.96
--------------------------------------------------------------------------
Notes:
1. Widths represent drill intersection widths not corrected for drill hole
inclination and dip of the geological zone. True widths have not been
determined. The drill hole inclination of 60deg and sub vertical dip of
the structures suggests that the true width will be approximately 86% of
the intersected width.
2. 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.
3. No capping of high-grade values has been applied to the assay results.
Table 2: Drill hole collar coordinates, azimuth, collar dip, and final
depth for the recent Ngula 1 drill holes
--------------------------------------------------------------------------
Hole_ID Easting Northing Elevation Azimuth CollarDip EOH
--------------------------------------------------------------------------
TDD0133 436750.0 9647156.0 1225 0 -60 300
TDD0145 436450.0 9647325.0 1225 180 -60 296
TDD0146 436550.0 9647120.0 1225 0 -60 387
TRC0001 436700.0 9647142.5 1225 0 -60 111
TRC0002 436700.0 9647167.5 1225 0 -60 106
TRC0007 436687.5 9647155.0 1225 0 -60 101
TRC0008 436675.0 9647155.0 1225 0 -60 100
TRC0016 436500.0 9647337.5 1225 180 -60 171
TRC0022 436512.5 9647325.0 1225 180 -60 156
--------------------------------------------------------------------------
QA/QC
A stringent QA/QC practice is being applied to all sample batches. 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 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.
About Tembo Gold Corp.
Tembo Gold Corp. is a Canadian publicly listed mineral exploration company focused on the exploration and development of gold projects in Tanzania and the rest of Africa. The Company currently has 100% interest in the Tembo Gold Project that is located adjacent to African Barrick's 14Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone belt in Tanzania. The company is led by 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
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. In particular, this news release contains forward-looking statements in respect of the results of the gold deportment studies conducted by SGS, including, without limitation, expected CIL recoveries and the expectation of high recoveries based on the preliminary gold deportment results, 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. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, among other things, the ability to develop the Company's Tembo project, the economic climate in the jurisdictions where the Company carries on operations at its Tembo project and commodity prices. Although the Company believes that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, a significant drop in the price of gold, political turmoil in Tanzania and other risk factors set forth in the Company's continuous disclosure. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
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.
Contacts:
Tembo Gold Corp.
Marc Cernovitch
Director & VP Business Development
416.619.9010
mcernovitch@tembogold.com
www.tembogold.com
