Northwire Canada EditionWednesday, November 11, 2026
Sign inSubscribe
Northwire
⌕
Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.29 +0.9% Oil 86.53 +0.6% Palladium 1,046.10 +2.5% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% CDE 21.43 −1.2% AEM 265.03 −2.0% WDO 27.75 −2.0% BEA 0.090 +0.0% GAU 3.41 −4.2% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.29 +0.9% Oil 86.53 +0.6% Palladium 1,046.10 +2.5% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% CDE 21.43 −1.2% AEM 265.03 −2.0% WDO 27.75 −2.0% BEA 0.090 +0.0% GAU 3.41 −4.2%
Drill Results

Lake Victoria Gold Completes Imwelo Area C Drill Program, Confirming Pit Expansion Potential and Advancing Project Toward Near Term Production

By The Northwire Desk — AI Analysis Feb 05, 2026 · 03:02 LVG · 0.3 Lake Victoria Gold Ltd.
LVG · Price

Executive Summary

  • Lake Victoria Gold completed its Imwelo Area C drill program (21 of 24 planned holes) and released full analytical results, confirming down‑dip continuity and lateral extensions of mineralization beyond the current pit design.
  • Multiple high‑grade intercepts were reported, e.g., 11.88 g/t Au over 1.33 m (IMWDR009) and 6.96 g/t Au over 2.56 m (IMWDR007), strengthening confidence in the geological model and supporting resource conversion and pit optimization.
  • The data underpin final pit design, geotechnical de‑risking, grade‑control planning, metallurgical validation, and a forthcoming low‑dilution financing strategy for near‑term production.

Key Details

  • Drill Intercepts (selected highlights):
  • IMWDR003 – 3.56 g/t Au over 1.21 m (incl. 7.16 g/t Au over 0.41 m)
  • IMWDR007 – 6.96 g/t Au over 2.56 m (incl. 65.02 g/t Au over 0.25 m)
  • IMWDR009 – 11.88 g/t Au over 1.33 m (incl. 68.74 g/t Au over 0.22 m)
  • IMWDR011 – 8.55 g/t Au over 1.30 m (incl. 20.77 g/t Au over 0.31 m)
  • IMWDR013 – 9.31 g/t Au over 2.45 m (incl. 21.65 g/t Au over 0.96 m)

  • IMWDR017 – 11.19 g/t Au over 0.90 m (incl. 32.84 g/t Au over 0.30 m)

  • Depth & Lateral Extensions:

  • Mineralization confirmed to >250 m vertical depth (historical limit ~200 m).
  • Average vertical intersection depth ≈120 m, more than double historic average (~50 m).

  • New mineralized zones identified east (IMWDR018) and west of the current pit margin.

  • Resource Conversion Potential:

  • Intercepts mirror grades/widths of historical resource holes, supporting Inferred‑to‑Indicated upgrades and possible Measured increases.

  • Geotechnical Work:

  • Two oriented core geotech holes completed for RQD logging, rock‑mass characterization, slope angle refinement, and ramp geometry design.

  • Grade‑Control & Metallurgical Validation:

  • Shallow holes provide data for pre‑stripping grade‑control plans.

  • Oxide, transitional, and fresh samples selected for confirmatory metallurgical testing.

  • Funding Strategy:

  • Results feed into a financing plan aimed at minimizing equity dilution while aligning capital with near‑term cash flow generation.

  • Management Commentary:

  • CEO Marc Cernovitch emphasized that the results “further validate Imwelo as a near‑term production asset” and provide the technical data needed for final pit design, resource conversion, and mine planning.

  • Exploration Manager Hendrik Meiring highlighted consistent mineralization, alteration, and structural continuity across zones to >250 m depth.

  • Qualified Person: David Scott, Pr. Sci. Nat., reviewed and approved all scientific and technical information (NI 43‑101).

Notable Quotes

“These results further validate Imwelo as a near‑term production asset… we have now demonstrated continuity of mineralization beyond the current pit design, both at depth and laterally…” – Marc Cernovitch, President & CEO

“The geology is performing exactly as interpreted… confirming mineralization east and west of the current pit design further highlights the potential for resource growth.” – Hendrik Meiring, Exploration Manager

Read the original news release →

More from Lake Victoria Gold Ltd.

Nov 11, 2026 · 07:30

Lake Victoria begins grade control drilling at its permitted Imwelo project, advancing operations toward first gold production.

Drill Results Oct 30, 2026 · 07:30

Lake Victoria raises $5m in an insider offering for Imwelo, while a separate $27m deal for the HOB project remains pending.

Financings Oct 20, 2026 · 07:30

Lake Victoria becomes a control person for LVG after refiner Halac’s $32.2m first-time stake in Hob.

Financings Sep 24, 2026 · 08:18

Lake Victoria confirms Imwelo clay treatment, de-risking the near-surface flowsheet ahead of construction for its project.

Technical Study Sep 16, 2026 · 12:45

Lake Victoria has initiated land valuation for the Tembo toll-milling project as execution continues at a steady pace.

Other Sep 03, 2026 · 11:58

Lake Victoria advances Imwelo roads, camp and earthworks while financing and feasibility studies remain open.

Production / Operations