Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – Gold futures broke through $4,000 per ounce for the first time Tuesday, capping a historic 50% year-to-date gain driven by dollar weakness, geopolitical turmoil, and persistent inflation fears[1]. The rally has ignited exceptional performance across gold mining equities, with mutual funds investing in gold miners surging 114% year-to-date and attracting $5.4 billion in third-quarter inflows, representing the largest quarterly move since December 2009[2]. Junior miners have led the charge, with some funds posting gains exceeding 130%[3] as investors pile into leveraged exposure to the precious metal's ascent, bringing renewed attention to companies advancing projects across multiple continents, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Miata Metals Corp. (CSE: MMET) (OTCQB: MMETF), Austin Gold Corp. (NYSE-American: AUST), Globex Mining Enterprises Inc. (TSX: GMX) (OTCQX: GLBXF), and Northern Dynasty Minerals Ltd. (NYSE-American: NAK).
Wall Street analysts now claim $5,000 gold has become a "certainty" rather than a possibility[4], with JPMorgan warning that even modest rotations away from US Treasuries amid Federal Reserve independence fears could rapidly push prices above that threshold. Goldman Sachs reinforced the bullish outlook Monday, raising its forecast from $4,300 to $4,900 per ounce by Q2 2026[5], driven by expectations of strong Western ETF inflows as the Federal Reserve cuts rates and sustained central bank buying as emerging markets continue diversifying reserves away from the dollar.
With gold miners generating unprecedented free cash flow at current prices—and the sector still trading below historical valuation multiples despite record profitability—investors are increasingly viewing the mining equity space as offering both leverage to further gold price appreciation and compelling fundamental value.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is mobilizing drilling equipment at Area C, the highest-grade zone within its fully permitted Imwelo Gold Project in Tanzania, marking a decisive step toward near-term production.
The 4,000-metre campaign combines mine development planning and extension drilling designed to test strike continuity and down-dip potential. With the first rig scheduled to commence drilling October 6 and a second rig on order to accelerate progress, the company is advancing on parallel fronts, thus tightening production timelines while looking to expand the resource envelope at what represents the priority starter pit.
"By mobilizing now and adding a second rig, we're advancing Imwelo on two fronts---short-term production readiness and resource growth potential," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "This drill program is designed to tighten mine scheduling, validate pit and slope design, and test down-dip and western extensions at Area C."
The program targets mineralization that has historically been tested only to approximately 45 metres depth, with new holes designed to intersect gold zones at 100 and 200 metres down-dip. Area C maintains an average grade of 3.7 g/t gold across the historical resource, with previous intercepts including 6.8 metres at 14.6 g/t gold from 33 metres and 7 metres at 3.22 g/t from 27 metres demonstrating potential production-scale mineralization.
Step-out drilling will test westward continuity across an interpreted fault structure where geophysics and mapping suggest mineralization may be offset rather than terminated, potentially expanding the open-pit resource envelope. Geotechnical diamond drilling will support final pit slope optimization while representative core will undergo metallurgical testing focused on the transition zone to refine recovery assumptions and early-stage mine scheduling.
The drilling launch comes as LVG recently reached a pivotal agreement in principle with the Government of Tanzania establishing the framework for the government's statutory minimum-16% free carried interest in the project. This breakthrough satisfies a principal regulatory requirement, enabling the next phase toward production, and establishes a foundation for long-term partnership through a new joint venture company structure. Combined with the company having cleared a crucial environmental hurdle through approval of the Updated Environmental and Social Management Plan, regulatory pathways now support the transition from development to construction.
Located just 12 kilometers from AngloGold Ashanti's flagship Geita mine, Imwelo benefits from a 10-year renewable mining license and metallurgical recoveries exceeding 90%. The company targets first gold within 12 months of construction start, with Area C representing the initial focus based on grade profile and infrastructure access within Tanzania's premier gold district.
Financial momentum continues building after LVG officially closed an oversubscribed $6 million financing plus a soon to close $2 million concurrent placement. Proceeds support work programs satisfying conditions for a pre-paid forward purchase facility with Monetary Metals targeting construction capital, while strategic backing from Taifa Group—Tanzania's largest mining contractor—provides both equity support and operational infrastructure.
Beyond Imwelo, the Tembo Project offers additional near-term optionality through a planned 3,000m drilling program at Ngula 1, where historic intercepts of 28.57 g/t gold over 3 metres from 54 metres demonstrate potential for toll milling at the nearby Nyati Resources facility. The company also maintains exposure to up to US$45 million in milestone payments from the 2021 asset sale to Barrick's Bulyanhulu operation.
With drills turning, regulatory frameworks secured, and gold trading above $3,800 per ounce, Lake Victoria Gold represents the convergence of execution momentum and market timing positioning the company among East Africa's most advanced near-term gold developers.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
In other industry developments and happenings in the market include:
Miata Metals Corp. (CSE: MMET) (OTCQB: MMETF) has delivered breakthrough drill results from the Jons Trend at its Sela Creek Gold Project in Suriname, with hole 25DDH-SEL-033 returning 35.6 metres at 3.04 g/t gold from 69.0 m, including 14.6 m of 4.95 g/t gold and 3.0 m of 8.93 g/t gold. The intercept represents the widest and highest-grade zone ever drilled on the project, while a second hole confirmed stacked mineralization with 36.8 metres of 1.71 g/t gold.
"These intercepts are a breakthrough for Sela Creek, delivering wide and continuous zones of gold mineralization at our Jons Trend target, which hosts the largest artisanal pit at Sela Creek," said Dr. Jaap Verbaas, CEO of Miata Metals. "Hole 25DDH-SEL-033 returned 35.6 m of 3.04 g/t gold, the widest and best-mineralized intercept ever drilled at Sela Creek."
The company is evaluating Jons Trend as a potential open-pit opportunity, with the mineralization hosted within fold hinges in metasedimentary rock, a deposit style well established at producing mines in Suriname. With assays pending from six additional holes at Jons Trend and results from the nearby Puma and Golden Hand prospects, Miata continues to demonstrate the scale and continuity of a district-scale gold system across its 14 km exploration corridor.
Austin Gold Corp. (NYSE-American: AUST) is advancing exploration at its Stockade Mountain Project in Oregon with a newly designed Controlled Source Audio-frequency Magnetotellurics survey to better target high-grade gold vein structures at depths of 200-300 metres, with completion expected this year subject to contractor availability and weather conditions. The company has received permission from the Oregon Water Resources Department to drill a water well in the fourth quarter of 2025 to ensure water availability for future drilling campaigns.
At the Lone Mountain Project in Nevada, Austin continues detailed field work including geological mapping, geochemical sampling, and gravity geophysics, with soil sampling results showing significant enrichments of arsenic, antimony, and thallium over large areas associated with gold anomalies up to 0.128 g/t. The company is incorporating these soil results with detailed geological mapping and gravity surveys, as large areas of the property remain untested or minimally tested by drilling despite significant historical exploration at Lone Mountain.
Globex Mining Enterprises Inc. (TSX: GMX) (OTCQX: GLBXF) announced that Bryah Resources Ltd (BYH-ASX), which has optioned the Golden Pike gold/antimony property in New Brunswick from Globex, has reported assays of up to 57% antimony from large boulders at the Bond Road showing, with two samples returning 27.6% Sb and 54.0% Sb respectively. The 27.6% Sb boulder also assayed 1.61 g/t gold, while recent prospecting at the Vail Road Gold Deposit yielded five samples from two sub-parallel quartz veins assaying up to 9.48 g/t gold.
The property hosts a previous NI 43-101 compliant Inferred Resource totaling 270,500 tonnes grading 9.39 g/t gold (cut) and 11.48 g/t gold (uncut) in the Main and Parallel Zones. The New Brunswick area represents a unique concentration of antimony and antimony/gold occurrences in Canada, distinguished not only by the number of showings but also by the high-grade assays recovered in sampling across multiple target areas.
Northern Dynasty Minerals Ltd. (NYSE-American: NAK) has filed a Summary Judgement Brief in Alaska Federal Court on October 3, 2025, along with the State of Alaska, Iliamna Natives Ltd., and Alaska Peninsula Corp., presenting compelling arguments demonstrating why the EPA veto of the Pebble Project is illegal and should be withdrawn immediately. The Pebble Project represents one of the largest undeveloped copper-gold-molybdenum resources in the world, with significant gold endowment located on state land designated by statute for mineral exploration and development.
"We are pleased to have filed the Summary Judgement Brief and to simultaneously be continuing our settlement discussions with the government to remove this illegal veto," said Ron Thiessen, Northern Dynasty's President and CEO. "We believe we have a strong case and, along with our fellow plaintiffs, are confident that we will win."
The company's preferred option remains negotiating a prompt withdrawal of the veto by the government and dismissing the litigation, though the brief clearly highlights agency overreach and interference in the project. If successful, the withdrawal of the veto could reopen the path to permitting one of the world's most significant undeveloped gold-copper deposits, with the EPA's findings directly contradicted by the Final Environmental Impact Statement, and the government required to file a response brief by January 2, 2026 to defend the veto in court.
Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
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SOURCES CITED:
1. https://www.cnbc.com/2025/10/07/gold-4000-record.html
2. https://www.reuters.com/world/asia-pacific/funds-investing-gold-miners-bask-record-prices-2025-10-07/
3. https://seekingalpha.com/article/4828325-sgdj-reassessing-the-stunning-junior-gold-miners-rally
4. https://www.ibtimes.co.uk/gold-price-wall-street-analysts-claim-5000-gold-now-certainty-fed-independence-fears-grip-1746866
5. https://www.kitco.com/news/article/2025-10-07/goldman-sachs-now-sees-4900-gold-q2-2026-rising-etf-and-steady-central-bank
