Tembo Gold finalizes remobilization activities for an extended drilling campaign

Vancouver, British Columbia–(Newsfile Corp. – February 8, 2022) – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company”) is pleased to announce that pending final approval from the Tanzanian Mining Commission, a drilling contractor has been selected to commence a drilling program. Refurbishment work is underway at the company’s camp facilities and will be completed before mobilization in February. Initial drill hole planning is well advanced on the Ngula 1 priority target, and further holes will be designed upon return of results from the initial holes.

Strong points

  • The Company, through its subsidiary Mineral Industry Promotion and Consulting Co Ltd (MIP), with the assistance of Above Ground Advisory, the Company’s local content compliance consultant, has completed the government process to obtain the drilling contractor approval from the Mining Commission and final approval is awaited.

  • The refurbishment of the Exploration Camp is underway and is expected to be completed by mid-February, with the central courtyard, offices and accommodation facilities fully functional. The drilling contractor will set up its camp adjoining the Company’s camp and share utility facilities, including security, electricity and water.

  • Preliminary drill hole planning for the priority target at Ngula 1 is underway with initial holes planned to target the follow-up drill hole TDD0041, which returned an exceptional result of 22.18 g/t Au over an intersection width of 15.00 m, hole TDD0054 with an intersection of 8.12g/t Au over 11.05m, TDD0005 with 8.5g/t Au over 5.14m, TDD0004 with 28.57g/t Au over 3.00m, TRC0013 with 17.23g/t Au over 3.00m, and several other encouraging boreholes.

  • Drilling will target the structural orientation of the mineralized structures and then follow these mineralized zones up and down dip and along strike, with the goal of developing a resource model when sufficient data has been collected.

  • Additional drill holes will also test new targets identified by the recent GoldSpot target generation exercise (please see press release dated June 1, 2021) and it is expected that these holes will provide evidence of further potential through the collection of relevant data including alteration, mineralization and structural control along identified structures.

  • The planned drilling program for 2022 will include 7,000 m of diamond drilling and 5,000 m of reverse circulation drilling.

David Scott, President and CEO, said: “With the signing of the recent license and share purchase agreements with Barrick Gold subsidiary Bulyanhulu Mine and the resulting post-closing financing upon completion of all regulatory approvals and other closing conditions met, we look forward to seeing drilling in the field. and exploration activity on our property and surrounding permits. This long-awaited resumption of exploration will be rewarding for all who cooperated to keep Tembo and its prospects alive.”

QA/QC

A QA/QC practice is applied to all batches of samples. All samples are securely sealed and sample batches bagged for transport to SGS laboratories in Mwanza. A verified reference material standard is inserted every 20 samples, a known blank or standard blank every 20 samples, and all samples with grades greater than 0.5 g/t Au are reanalyzed. 1% of all samples are submitted to another laboratory for control analysis. Additionally, the lab adheres to an internal QA/QC procedure including standard samples and independently inserted replicates and blanks. Coarse tailings and pulps are retained for further analysis and verification.

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.

Notes on above drill results:

About Tembo Gold Corp.

Tembo is a publicly traded Canadian mineral exploration company (TEM on the TSX Venture Exchange) with a 100% interest in the Tembo gold project. Tembo focuses on the discovery and development of gold projects in Africa. The Company has assembled a highly experienced team with a proven track record in the development, financing and operation of mining projects in Africa. The Company’s exploration strategy is to discover mineral resources as well as to continue to seek other opportunities that could bring value to the Company and its shareholders.

On behalf of the Tembo Board of Directors,

David Scott
President and CEO
Telephone: +255 767 366 146
E-mail: [email protected]

For more information please contact:

Simon Benstead
Director & VP Corporate Development
Phone: 604-685-9316
E-mail: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.

Caution Regarding Forward-Looking Statements

Certain information contained in this press 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”, “could”, “should”, “believe” and similar expressions. This press release contains forward-looking statements, including, without limitation, the expected filing date for required filings. Forward-looking statements are based on the beliefs and expectations of the Company’s management as of the effective date of such statements. statements and, in some cases, on information provided or disseminated by third parties. Although the Company believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions and that the information obtained from third-party sources is reliable, it cannot guarantee that such expectations will prove to be correct.Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from the results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include the Company’s failure to file its required documents when expected. Accordingly, actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113100

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