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Tuesday, September 28, 2010

Lake Victoria (OTCBB:LVCA) Intersects Suspected Visible Gold in Three Target Areas, at the Singida-Londoni Gold Project, Tanzania

Lake Victoria (OTCBB:LVCA) Intersects Suspected Visible Gold in Three Target Areas, at the Singida-Londoni Gold Project, Tanzania


GOLDEN, COLORADO--(http://www.investorideas.com/ gold and mining stocks blog ) - Sept. 28, 2010 - Lake Victoria (OTCBB:LVCA) is pleased to provide a further update on the Reverse Circulation (RC) drilling program at the Singida-Londoni gold project in Tanzania. To date, drilling has successfully intersected possible visible gold and the metallic minerals pyrite and arsenopyrite. These metallic sulfide minerals are often associated with gold and gold deposits and were present in three target areas, Sambaru 3, 4 and 5. Assay results are expected shortly of the first consignment of 820 drill samples sent to SGS Laboratory, Mwanza, which will determine the level of gold present.


Drilling at Sambaru 5, a site of abundant artisanal surface workings located near the northwest end of the license area, was successfully completed. A total of six holes were drilled on two sections spaced 80 meters apart. Four narrow, but apparently continuous zones of sulfide mineralization, previously reported in the news release of the 20th September 2010, appear to be present.
The drill rig, recently completed three boreholes to test the area immediately north of the main artisanal mines in the central part of the Sambaru 4 target. Two zones of increased sulfide minerals were intersected at down hole distances of about 19 meters and 70 meters. The zones have a length of about 10 and 23 meters respectively. The upper zone is believed to represent a new mineralized zone. The lower zone, previously intersected in an adjacent hole, is believed to represent the main zone that the artisanal miners worked at a more shallow depth. Drilling indicates the lower zone now extends to at least 70 meters below the surface. Occasional grains of possible gold are present in panned drill hole samples from the upper zone; with more abundant possible gold grains appear to be present in panned samples from the deeper zone. The drill is currently testing a 120 meter long zone of artisanal mining in the southeastern part of Sambaru 4; following this drilling, the drill moves to the Sambaru 2 target near the central part of the five kilometer long license area.
Roger Newell said: " These preliminary drill results are very encouraging and the presence of the metallic sulfide minerals of pyrite and arsenopyrite, which are often associated with gold, underscores the importance of what appears to be visible gold in our drill samples. We look forward to providing drill hole assay results in the near future."
About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania is Africa's third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds eleven prospective gold projects and five uranium projects within its Tanzania property portfolio. Additional information regarding the Company is available on the corporate website at: http://www.lakevictoriaminingcompany.com/ or by contacting:
Disclaimer
This news release may contain forward looking statements, relating to the Company's operations or the environment in which it operates, which are based on Lake Victoria Mining Company, Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Lake Victoria Mining Company, Inc.'s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Lake Victoria Mining Company, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact
Lake Victoria Mining Company Inc.
Dr. Roger A. Newell
303-586-1390




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