Welcome!

Microsoft Cloud Authors: Liz McMillan, Pat Romanski, John Basso, Elizabeth White, Mihai Corbuleac

News Feed Item

Tembo Gold President's Update

TORONTO, ONTARIO -- (Marketwire) -- 01/08/13 -- Tembo Gold Corp. ("Tembo" or the "Company") (TSX VENTURE:TEM)(FRANKFURT:T23)(OTCQX:TBGPF) - David Scott President & CEO reports: It is with great pleasure that I update you on the progress and developments of Tembo Gold Corp. In 2012, we made significant progress on a number of key objectives on the Tembo gold property in Tanzania's Lake Victoria goldfield, most importantly we made substantial progress with our exploration program such that we look forward with confidence to continuing deeper drilling and resource definition drilling in 2013;

2012 Highlights:


--  35,000m of drilling completed: 15,000m of diamond drilling (DD) in 57
    holes and 20,000m of reverse circulation drilling (RC) in 139 holes 
--  Gold mineralization intersected in 53 of 57 DD holes with up to 93 g/t
    Au intersected 
--  Mineralized strike length of over 1,600m defined in two main project
    areas 
--  Land tenure strengthened 

After the completion of the 2012 drill campaign we are more confident than ever in the quality and potential of the Tembo project. The amount of high-grade gold mineralization encountered throughout the property, and the consistency with which our diamond drilling intersected these structures, provides us with geological confidence in our approach and methodology. The potential for early and phased mine development, with low capital and operating cost production, presents a very real opportunity to maximize shareholder value and minimize future financial risk. In view of this, we look forward to the next phase of our exploration program and are thankful for the hard work and support of our employees, contractors, board members and shareholders in 2012.

Target Selection and Drill Program

Artisanal mining activity is recognized as a key indicator of the extent of high-grade gold mineralization on the Tembo project. A LIDAR (light detection and ranging) survey delineated the extent of such workings and defined more than 10km of aggregate strike length from historical and current workings. Some 2,800 hard rock artisanal exploitation shafts, with average depths between 30m and 50m, occur as linear trends that correspond closely with linear magnetic anomalies. The magnetic anomalies are considered to indicate concealed, potentially mineralized, shear structures which extend well beyond current or historical workings. Less than 10% of the magnetic lineaments have associated artisanal activity suggesting that there is extensive target potential both along strike of these and along numerous parallel lineaments. From the above findings, seven priority target areas were identified for Phase I drilling; Ngula 1, Ngula 2, Nyakagwe East, Nyakagwe Village, Buly, Iyenze and Mgusu. Targeting areas beneath artisanal workings has proven extremely successful with 53 of 57 diamond drill holes encountering gold mineralization.

Comparing the 2012 Tembo project drill results with the early drilling at African Barrick's Bulyanhulu mine is informative. Bulyanhulu drilling at depths shallower than 200-300m showed inconsistent grades, but as drilling depth increased, grades and grade consistency showed a marked improvement, and this is what we have encountered thus far at Tembo. The Tembo project mineralizing event would have developed under similar pressure and temperature conditions as at Bulyanhulu. If such conditions contributed significantly to the gold distribution at Tembo, it is hypothesized that gold grade and grade consistency may improve with depth as it does at Bulyanhulu. We are very excited to undertake the next drilling phase to test this hypothesis and deep diamond drilling has already commenced at Ngula 1.

Ngula 1

Initial drilling at Ngula 1 delineated a 150-200m wide zone of multiple east-west striking shears and northwest and northeast crosscutting structures as indicated by artisanal workings and magnetic lineaments. Mineralization has been intersected over a strike length of over 600m and the zone is open in both directions and down dip. Drilling beneath active artisanal workings demonstrated the potential to encounter significant gold mineralization as it intersected robust mineralized shear zones in places hosting wide and high-grade gold structures. Deeper drilling to test the extensions of these structures at depth has commenced, and in-fill drilling to provide data and geological information to determine a resource is planned in 2013. The best results at Ngula 1 (previously reported March 13, June 7 and September 26, 2012) include:


--  TDD0004: 3.13 g/t Au over 25.89m from 41.00m including 9.38g/t Au over
    6.30m; 
--  TDD0005: 8.50g/t Au over 5.14m from 152.85m including 15.59g/t Au over
    2.68m, and 93.30g/t Au over 0.38m; 
--  TDD0054: 8.17g/t Au over 11.05m from 116.95m including 12.90g/t Au over
    2.20m and 12.56g/t Au over 4.03m; and 
--  TRC0013: 17.23g/t Au over 4.00m from 19.00m including 22.53g/t Au over
    3.00m and 48.8g/t Au over 1.00m, and 13.00g/t Au over 1.00m from 104m. 

Nyakagwe East

Drill results at Nyakagwe East combined with historic drilling demonstrate a mineralized strike length of over 1,000m along at least one structure within zones that contain multiple structures. DD targeted the area under the northern structure of two extensively mined northwest trending zones containing multiple structures, exploited along approximately 750m of strike. RC drilling where no mining has been carried out showed that the northern structure continues and is mineralized over 300m to the northwest and into the next target area, Mgusu. Historical DD and RC drilling showed the target potential with highlights including:


--  DD001: 10.25g/t Au over 3.50m from 38.50m; 
--  DD005: 9.73g/t Au over 3.40m from 81.94m; and 
--  RC056: 36.70g/t Au over 1.00m. 

To complement historical drilling, the northern zone was targeted with DD to intersect 50m to 100m underneath the workings. Highlights along the Nyakagwe East target northern structure (previously reported July 24, 2012) include:


--  TDD0019: 4.69g/t Au over 1.67m from 67.35m; 
--  TDD0029: 61.80g/t Au over 0.68m from 277.24; and 
--  TRC0234: 5.46g/t Au over 2.00m from 109.00m. 

The zone is open at depth and along strike in both directions and further drilling is planned to test along the northern zone and the parallel structures. The drill holes also show potential for sub-parallel deeper structures that will be targeted in a future deeper drilling program. Deeper and closer spaced in-fill drilling is also planned in 2013 as Tembo commences resource definition.

Other Targets

Preliminary drilling was conducted at the Mgusu, Nyakagwe Village, Ngula 2, and Iyenze targets. RC drilling at Mgusu (results announced September 5, 2012) intersected significant gold mineralization in an area with numerous artisanal shafts along east-west, northwest and northeast trending magnetic lineaments. At Nyakagwe Village (results announced September 11, 2012), a major artisanal mining area exploited by vertical shafts became a large artisanal open pit extracting high-grade material. Initial drilling intersected two high-grade veins south of the workings and an extremely high-grade zone at depth to the north on an unrelated structure. Follow-up drilling along strike intersected the primary zone to the east and further drilling is planned to test both high-grade prospects. Highlights from the Mgusu and Nyakagwe Village targets include:

Mgusu


--  TRC0423: 10.17g/t Au over 6m from 36.0m including 19.1g/t over 3m. 

Nyakagwe Village


--  TDD0107: 16.58g/t Au over 3.55m from 43.88m and 27.88g/t over 3m from
    65.90m; and 
--  TDD0101: 78.1 g/t Au over 1.00m from 294.00m. 

At Ngula 2, initial structural DD holes failed to intersect the high-grade mineralization being exploited by artisanal miners. RC fences along the Iyenze trend intersected low-grade mineralization and further drilling along the structure will be considered.

License Tenure

When the NI 43-101 was submitted in May 2011, the Tembo project consisted of six valid prospecting licenses and 28 prospecting license applications. Subsequently, all applications (with one exception in a non-priority area) were granted. There are currently 95.5km2 of valid prospecting licenses and approximately 5.5km2 under application. This is a significant improvement in the license tenure status and ensures that all current targets fall within secure license areas. There are four pending license applications for new licenses, none of which fall within the current target area where the drilling program is focused.

Corporate Update

Tembo has achieved significant corporate accomplishments since July 15, 2011 when the new management and Board of Directors assumed control. Tembo was successfully recapitalized in the fall/winter of 2011/2012 with over C$17M of funds raised and all outstanding debts cleared. A successful relisting of the company on the TSX Venture Exchange in February 2012 followed and additional funding was successfully raised at the end of 2012.

In Tanzania, the company successfully established an office and working camp, and has built key relationships with government and local communities. The exploration program has been executed by geologists from The Mineral Corporation, and we recently strengthened our exploration team with the addition of Peter Haworth as Exploration Manager and Jann Beresford as Senior Geologist.

Expert Consultant Engaged

Professor Nick Oliver (Director and Principal of Holcombe Coughlin Oliver, former Director and Professor at the Economic Geology Research Unit at James Cook University), a specialist in hydrothermal gold mineralization systems such as those of the Lake Victoria Goldfield, visited the Tembo project in November 2012. Professor Oliver recognized that Ngula 1 has potential to develop into a world-class gold deposit. He describes Ngula 1 as follows:

"The high quality geophysical datasets provide confidence that several E-W trending, metre- to 10m-scale wide, steep gold-rich envelopes will be continuous to significant depths, but the distribution of shallow gold domains within and around the steep zones requires ongoing attention."

Professor Oliver's findings have contributed to a fuller understanding of the controls and nature of the Ngula 1 mineralization and he provided important technical recommendations that are assisting targeting the next drilling phase and 3D modeling of the deposit in order to define a resource. Professor Oliver's assistance to the Tembo project has been invaluable and we plan to continue working with him as the project moves forward.

Community Integration and Engagement

Tembo, within its limited means as a junior exploration company, endeavors to be a responsible member of the communities within which it operates and seeks to establish strong, positive and mutually beneficial relationships. In so doing, it aims to achieve its social license to operate. Experienced consultants were engaged to assist the Company develop practical strategic plans to ensure continued, effective and open communication, and well-defined corporate participation in sustainable development projects. Our approach is strongly based on cooperative agreement and participation by all stakeholders. To this end the Company commenced initial support activities that included assisting with school construction and similar projects. A key endeavor is to help end the needless deaths of artisanal miners by improving unsafe mining conditions and practices, and the severe health damage they suffer from occupational hazards including noise, dust and the use of mercury.

Moving Forward

Following on the successful 2012 exploration results, Tembo will continue to explores and develop the 7 target areas on the Tembo Gold property. At Ngula 1 and Nyakagwe East, where a combined mineralized strike length of over 1,600m had been identified deeper drilling to test the extension at depth has commenced, and in-fill drilling to provide data and geological information to determine a resource is planned in 2013. Further RC exploration drilling is planned to follow the exceptional results encountered at Mgusu and Nyakagwe Village.

About Tembo

Tembo Gold is a Canadian public company listed on the TSX Venture Exchange ("TSX-V") under the symbol TEM. The Company currently has 100% interest in the Tembo Gold Project that is located adjacent to African Barrick's 20Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone belt in Tanzania. Our focus is the discovery and development of world-class gold projects in Africa. The company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa.

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 use of the net proceeds from the Private Placement, the completion and timing of additional closings of the Non-Brokered Private Placement, the payment of certain finders' fees and the listing of the Common Shares on the TSXV. 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 properties, the economic climate in the jurisdictions where the Company carries on operations 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...