Lake Victoria Gold Advances Final Pit Design at Imwelo Project After Completion of Key Technical Studies

Lake Victoria Gold Advances Final Pit Design at Imwelo Project After Completion of Key Technical Studies

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Lake Victoria Gold Strengthens Imwelo Project with Final Pit Design Milestone

Lake Victoria Gold has reached a major technical milestone at its Imwelo Gold Project in northwestern Tanzania, announcing the successful completion of final pit design following detailed geotechnical and specific gravity studies. This achievement represents a critical step forward in the company’s strategy to de-risk the project and move closer to future development and production.

The updated work confirms the robustness of the Imwelo open-pit concept and provides a stronger technical foundation for mine planning, cost estimation, and long-term operational decision-making. With this progress, Lake Victoria Gold continues to demonstrate disciplined project advancement supported by data-driven engineering and geological analysis.

Overview of Lake Victoria Gold and the Imwelo Project

is a gold-focused exploration and development company operating in Tanzania’s highly prospective Lake Victoria Goldfield. The company’s flagship asset, the Imwelo Gold Project, is located near several established gold mines, highlighting the region’s strong mining pedigree and infrastructure advantages.

The Imwelo Project has long been recognized as a near-surface, open-pittable gold deposit with favorable metallurgy. Over recent years, Lake Victoria Gold has focused on systematically advancing the project through technical studies, regulatory compliance, and optimization work designed to support future mining scenarios.

Importance of Final Pit Design in Mining Projects

Final pit design is one of the most critical stages in the lifecycle of an open-pit mining project. It defines the ultimate shape, depth, slope angles, and overall footprint of the mine. These parameters directly affect:

  • Mine safety and slope stability
  • Ore recovery and waste stripping ratios
  • Capital and operating cost estimates
  • Environmental and closure planning

By completing the final pit design at Imwelo, Lake Victoria Gold has significantly reduced technical uncertainty and improved the reliability of future mine plans.

Geotechnical Studies: Strengthening Slope Stability and Safety

Geotechnical studies form the backbone of safe and efficient open-pit mine design. At Imwelo, these studies focused on understanding the mechanical behavior of rock units within the proposed pit area.

Key Objectives of the Geotechnical Program

The geotechnical program aimed to:

  • Assess rock strength and structural features
  • Determine appropriate pit wall angles
  • Identify potential geotechnical risks
  • Support long-term slope stability

The results confirmed that the geological conditions at Imwelo are suitable for open-pit mining with well-defined and stable slope parameters. This outcome supports both operational safety and economic efficiency.

Impact on Mine Design and Operations

With reliable geotechnical data, engineers can design pit walls that balance safety with minimal waste stripping. This optimization directly improves project economics by reducing unnecessary excavation while maintaining high safety standards.

Specific Gravity Studies: Enhancing Resource Confidence

In addition to geotechnical work, Lake Victoria Gold completed comprehensive specific gravity (SG) studies. Specific gravity is a key parameter used to convert geological volume into tonnage, making it essential for accurate resource estimation.

Why Specific Gravity Matters

Specific gravity values influence:

  • Mineral resource and reserve calculations
  • Mine production forecasts
  • Revenue and cash flow models

Accurate SG data reduces the risk of overestimating or underestimating tonnage, ensuring more reliable financial and operational planning.

Results from the Imwelo SG Program

The completed SG studies at Imwelo provided consistent and reliable density values across key lithological units. These results improve confidence in the existing geological model and support the validity of the final pit design.

Integration of Technical Studies into Final Pit Design

The true value of the Imwelo technical work lies in the integration of geotechnical and specific gravity data into a unified mine design. This integrated approach ensures that the final pit layout reflects real-world ground conditions and material characteristics.

As a result, Lake Victoria Gold now has a pit design that:

  • Is based on verified physical properties of the orebody
  • Supports safe and efficient mining methods
  • Improves confidence in future economic studies

Strategic Significance for Lake Victoria Gold

Advancing to final pit design is more than a technical achievement—it is a strategic milestone. It signals that the Imwelo Project is transitioning from exploration toward development readiness.

De-Risking the Project

By completing these studies early, Lake Victoria Gold has reduced key technical risks that often challenge mining projects during later stages. This proactive approach enhances the project’s attractiveness to investors, partners, and financiers.

Supporting Future Development Decisions

The updated pit design provides a strong foundation for:

  • Updated mine plans
  • Refined capital and operating cost estimates
  • Environmental and permitting work
  • Potential production scheduling

These elements are essential for moving the project closer to construction and eventual gold production.

Imwelo’s Location Advantage in the Lake Victoria Goldfield

The Imwelo Project is situated within the Lake Victoria Goldfield, one of East Africa’s most prolific gold-producing regions. The area hosts multiple operating and past-producing mines, offering established infrastructure and a skilled workforce.

This regional context enhances the strategic value of Imwelo by reducing development barriers commonly faced by remote projects.

Commitment to Responsible Mining

Lake Victoria Gold continues to emphasize responsible and sustainable mining practices. The completion of geotechnical studies also contributes to environmental stewardship by ensuring that pit designs account for long-term stability and closure considerations.

Well-designed pits minimize environmental disturbance and support effective rehabilitation once mining activities conclude.

Market Implications and Investor Perspective

From a market standpoint, the advancement of final pit design at Imwelo sends a positive signal to investors. It demonstrates steady execution, technical discipline, and a clear path toward development.

In the mining sector, incremental de-risking through technical milestones often translates into stronger project valuations and increased strategic interest.

Next Steps for the Imwelo Project

With final pit design completed, Lake Victoria Gold is well-positioned to focus on the next phases of project advancement. These may include:

  • Further mine optimization studies
  • Updated economic assessments
  • Permitting and regulatory engagement
  • Potential development planning

Each of these steps will build upon the solid technical foundation established by the recent studies.

Long-Term Vision for Lake Victoria Gold

The progress at Imwelo aligns with Lake Victoria Gold’s broader vision of building a sustainable gold production platform in Tanzania. By advancing projects methodically and responsibly, the company aims to create long-term value for shareholders and stakeholders alike.

The completion of final pit design marks another important chapter in this journey, reinforcing confidence in the Imwelo Project’s potential.

Conclusion

The advancement of final pit design at the Imwelo Gold Project represents a significant milestone for Lake Victoria Gold. Through the completion of detailed geotechnical and specific gravity studies, the company has strengthened the technical integrity of the project and reduced development risk.

This achievement underscores Lake Victoria Gold’s commitment to disciplined project execution and positions Imwelo as a technically sound, development-ready gold asset within the Lake Victoria Goldfield. As the company continues to move forward, the Imwelo Project stands out as a key driver of future growth and value creation.

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