Tembo Gold drills 4.59 g/t gold over 2.96 metres at Tembo, Tanzania

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Tembo Gold Corp. [TEM-TSXV; T23A-FSE] reported the final results of the recent diamond drilling campaign on the company’s Tembo project in Tanzania. The drilling at Nyakagwe Village (NyaV) has confirmed a 200-metre wide south-dipping zone containing at least five to seven gold-bearing structures and extended the strike of this zone by 300 metres to the southeast. The drill results have provided confidence in the structural attitude of the mineralized zones that will assist the design of a resource drilling program that is planned.

Highlights: Six diamond drillholes totaling 1,341 metres were completed at Nyakagwe Village during this phase, bringing the total metres drilled at this target to 30 drillholes totaling 4,898 metres (reverse circulation holes included).

The two drillholes completed in 2023 after the drillers break returned best intersections of: 4.59 g/t gold over 2.96 metres from 148.68 metres, including 7.19 g/t gold over 1.68 metres; 4.79 g/t gold over 0.99 metres from 181.31 metres.

The mineralization intersected in TDD0178 and TDD0177 extended the strike of the mineralized structures an additional from 300 to 600 metres.

A quartz porphyry is associated with the mineralization, and this will assist in further delineation of targets for future exploration in this area using our existing geophysical data.

Nyakagwe Village is a 600-metre long, 200-metre wide zone hosting multiple southeast trending gold hosting structures, open both to the northwest and southeast. The gold is hosted in sheared basalt rocks with quartz carbonate veins and sulphides such as pyrrhotite and pyrite with minor chalcopyrite.

There seems to be a strong association of a quartz porphyry intrusion and mineralization. Northeast trending structures are important secondary controls on mineralization, enhancing both grade and width and associated with very wide intersections and in places high grades.

The current drill program has confirmed and extended the known structures, providing confidence that further drilling to the southeast is warranted.

Previously reported results at Nyakagwe Village include TDD0071 that returned 24.72 g/t gold over 1.45 metres from 85.25 metres. TDD0101 returned 78.10 g/t gold over 1.00 metre from 294.00 metres. TDD0107 returned 16.58 g/t gold over 3.55 metres from 43.88 and 27.88 g/t gold over 3.00 metres from 65.90 metres. Refer to original press release for more drill results.

This drilling has provided the confidence to plan and undertake a resource drilling program.

Tembo Exploration Manager, Hendrik Meiring, commented, “The robustness of the mineralized structures at Nyakagwe Village and the association with quartz porphyry intrusions will assist in identifying future drilling targets. The possible extension to the south-east is also supported in the geophysical magnetic survey data.”

Tembo President & CEO, David Scott, stated, “These results from Nyakagwe Village, together with the results achieved at our other primary target, Ngula 1, provide us with confidence that a significant resource will be delineated on the Tembo Project. Our team has gained further understanding of the mineralization controls and has commenced planning of a resource drillout program at Nyakagwe Village.”

Tembo Gold has a 100% interest in the Tembo Gold Project which has over 40,000 metres of drilling and is located adjacent to Barrick’s 20Moz Bulyanhulu Mine in Tanzania’s prolific Lake Victoria Greenstone belt. Tembo recently completed a transaction with Barrick (which now owns ~5% of Tembo), whereby Tembo sold six of its non-core licenses to Barrick for US$6mm, and Barrick is committed to spending US$9mm over the first four years.

Additionally, Tembo will receive contingent payments of up-to US$45mm on the first 5 million ounces discovered by Barrick.

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