Contingent Payments
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Lake Victoria Gold: Tembo Exploration Update (Q3 2025)
Lake Victoria Gold (LVGLF) announced its Q3 2025 exploration update detailing Bulyanhulu’s progress on six licenses acquired under the 2021 APA. Highlights include the completion of 94 line-km of GAIP surveying and the commencement of aircore drilling at the Enze target (19 holes, 419m). Diamond and RC drilling are planned for Q4 2025. Project expenditures total US$6.7M of a proposed US$9M. LVG could receive up to US$45M in contingent payments and engaged Atrium Research for services at $3,500/month for 9 months, pending TSXV approval.
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Barrick Gold Continues Successful Exploration at Tembo-Area Licenses in Lake Victoria Region
Lake Victoria Gold reported exploration updates from Bulyanhulu Gold Mine (Barrick/Twiga owned) on six licenses acquired from LVG. Q2 2025 saw 12 RC holes drilled (1,380m) targeting the granite-greenstone contact, revealing mafic metavolcanics and alteration. LVG may receive up to US$45M in contingent payments based on future discoveries. Barrick will prioritize identified targets in Q3 2025. The drilling confirms geological continuity and validates long-standing interpretations of the belt’s potential.
