Lake Victoria Mining’s subsidiary Lake Victoria Resources has secured a full mining license for its Kinyambwiga open-pit gold project in northern Tanzania.
The approval notice by the Tanzanian Government authorizes the company to advance the Kunanga area at Kinyambwiga in the Bunda District toward production.
The notice follows the Environmental Impact Assessment Certificate issued by the government in January 2014, authorizing the company to submit an application for a full mining license.
Lake Victoria CEO and president David Kalenuik said the permission follows the company’s seven year exploration effort in the country involving geological and geochemical studies, ground based magnetic and electrical geophysical studies and both reverse circulation and diamond core drilling programs.
"Lots of work remains to be completed before we are ready to pour gold, but the pathway is now clear for us to move aggressively in that direction," Kalenuik added.
"Our plan now is to complete our financing activities, to place orders on longer lead time equipment, commence acquisition of our necessary mobile mine equipment and all related infrastructure. "