Lake Victoria Gold Announces Renewal and Transfer of Imwelo Mining License to Tanzanian Mining Commission

Posted on : Monday, 9th September 2024

The Tanzanian Mining Commission has accepted the necessary paperwork for the Imwelo Mining License's ten-year renewal and for LVG's acquisition of the mining license. This is with great pleasure that Lake Victoria Gold Company announces this. Updated Mining, Environmental, and Closure Plans are submitted with this application, together with the required guarantees to start construction within 90 days and the license renewal fee. With the completion of these filings, LVG will be able to maintain its development and operations inside the very promising Lake Victoria Goldfield region, having secured the long-term rights to the Imwelo Project.

 

CEO and director Marc Cernovitch says, We are happy to announce that we have finished submitting the necessary paperwork for the Imwelo Mining License transfer and renewal. CEO and director Marc Cernovitch made a statement. We are happy to announce that we have finished submitting the necessary paperwork for the Imwelo Mining License transfer and renewal. Lake Victoria Gold is a fast-growing gold exploration and development company that trades on the TSX Venture Exchange under the symbol LVG. Leveraging our unique location and experience, the company is primarily focused on growth and consolidation in Tanzania's highly productive and promising Lake Victoria Goldfield. 

 

The company owns a 100% stake in the Tembo property, which has over 50,000 meters of drilling and is next to Barrick's 20-moz Bulyanhulu Mine. In August 2023, the company announced the acquisition of two deposits that will help us achieve our goal of accretive growth through consolidation. Both the Imwelo and Dora projects have the potential to grow significantly.