Lake Victoria Gold Reports 84.54% Extraction at Imwelo as Tanzania Gold Exports Jump 37.4%

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Summary · why it matters

Lake Victoria Gold Ltd. reported that attrition scrubbing followed by desliming lifted 24-hour gold extraction from 49.99% to 84.54% in agitated-leach testing on weathered Area C material at its fully permitted Imwelo Gold Project in Tanzania, with bottle-roll recovery of up to 88.15% on the pretreated fraction versus 70.76% on as-received material. The testwork, completed by Nesch Mintech Tanzania Limited on 38 HQ whole-core samples weighing 120.34 kg with an average composite head grade of 3.80 g/t Au, complements the company's March 18, 2026 program on deeper transitional and fresh mineralization, which returned recoveries of up to approximately 96% to 97%. Early works are advancing at Imwelo, with 14 km of access road repaired, bulk earthworks progressing and the construction camp substantially complete, while shallow Area C drilling returned 28.71 g/t Au over 2.75 metres from 21 metres and 12.20 g/t Au over 4.50 metres from 32 metres. The funding pathway includes a gold loan facility with Monetary Metals & Co. of up to 6,000 ounces of gold, approximately US$25 million, repayable in gold, alongside a convertible debenture financing later upsized to $5 million. The development comes as Tanzania's gold exports rose 37.4% to US$5.67 billion in the year ending July 2026, according to the Bank of Tanzania, with gold accounting for 47.4% of goods export earnings over that period.

Impact on assets 5

Critical Materials & Supply Chain▲ · 2 stocks
Materials▲ · 2 stocks
Others▲ · 1 stocks
⛏Gold Futures
GOLD
▲ PositiveDemandrelevance

Tanzania gold exports jumped 37.4% to US$5.67bn, signaling strong global gold demand.

Theme Impact 2

Off-coverage companies 2

Lake Victoria Gold Ltd.Private▲ Positive
TechnologyCapitalrelevance

Attrition scrubbing/desliming lifted 24-hour gold extraction from 49.99% to 84.54% at Imwelo.

Monetary MetalsPrivate▲ Positive
Capitalrelevance

Named as provider of up to 6,000 oz gold loan facility (~US$25M) to Lake Victoria Gold.

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