PR Newswire
USA News Group News Commentary
Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER, BC , Oct. 1, 2025 /PRNewswire/ -- USA News Group News Commentary – Gold climbed above $3,800 an ounce for the first time Monday, setting a new record as safe-haven buying gained momentum amid expectations of additional U.S. rate cuts and worries over a possible government shutdown [1] . Adjusted for inflation, the metal already set its first new peak since 1980 earlier this month. Deutsche Bank now projects gold could surpass $4,000 by year-end, which is representing a potential annual return of more than 50% [2] . This surge is reshaping institutional flows, with groups like Southern Capital Advisors taking fresh positions in junior mining funds. Attendance at key industry events has jumped by over 30% [3] , highlighting increased confidence in companies across the exploration and development stage, such as Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Gold X2 Mining Inc. (TSXV: AUXX) (OTCQB: GSHRF), Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF), Rio2 Limited (TSX: RIO) (OTCQX: RIOFF), and Perpetua Resources Corp. (NASDAQ: PPTA) (TSX: PPTA).
The rally has also been underpinned by a softer dollar and tightness across the precious metals complex, with silver, platinum, and palladium likewise delivering strong gains as lease rates move well above historic norms [4] . Analysts warn gold may now be entering a potential "blowoff phase," with targets stretching toward $5,000 before this cycle cools. Traders cite eroding faith in the sustainability of government debt and the stability of fiat currencies as the primary drivers behind this momentum [5] .
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) iss 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:
Gold X2 Mining Inc. (TSXV: AUXX) (OTCQB: GSHRF) has reported high-grade intercepts of up to 50.85 meters of 2.18 g/t gold from 1.15 meters at its Moss Gold Project in Northwest Ontario , with initial results from 18 grade control drill holes showing gold grades generally higher than predicted in the resource model. The close-spaced drilling program, part of 61 completed holes across the Main Zone, is designed to upgrade resources from inferred to indicated category while providing samples for feasibility-level metallurgical studies.
"We are pleased with the initial results of the first 18 drill holes from the Moss Main grade control program. Notably, gold grades are generally higher than those predicted in our current resource model and we look forward to the potential continuation of this pattern as we receive additional results," said Michael Henrichsen , CEO of Gold X2 . "Equally important, the observed continuity of shear zones supports our current geological model, currently being updated by G Mining Services , and this alignment reinforces our confidence in the Moss Gold Project's potential."
The company's updated 2024 mineral resource estimate contains 1.54 million ounces of indicated gold resources at 1.23 g/t and 5.20 million ounces of inferred gold resources at 1.11 g/t, with the deposit remaining open at depth and along strike. The drilling results confirm reasonable continuity of lithological and shear domains, with mineralized zones traceable vertically along sections supporting the current geological interpretation used to guide resource modeling.
Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) has confirmed discovery of a new high-grade gold zone at Asirem, west of the Boumadine Main Trend in Morocco , with drilling tracing gold over eight kilometers of strike and grab samples returning up to 12.20 g/t gold. The company also reported strong results from the Boumadine Main Trend, including 369 g/t silver equivalent over 9.0 meters, and has expanded its regional footprint with two new mining licenses adding 25.1 square kilometers for a total of 339.3 square kilometers.
"The discovery and new gold zone at Asirem, west of Boumadine's Main Trend confirms that Boumadine is evolving into a true district-scale asset with multiple mineralized trends," said Benoit La Salle , President & CEO of Aya . "With a PEA on the Boumadine Main Trend targeted for release by year-end, these results highlight additional zones of mineralization, reinforcing Boumadine's scale and optionality as one of Morocco's most significant emerging precious metals discoveries."
Aya has completed 102,979 meters of drilling at Boumadine year-to-date, with the Asirem zone revealing parallel structures with geophysics pointing to more than ten kilometers of potential. The geology consists of Neoproterozoic rhyolitic tuffs in contact with Cambrian sedimentary shists, with a major regional fault oriented N090-N080 injected by quartz, quartz-carbonate and barite veins containing gold, copper, and traces of silver, lead and zinc.
Rio2 Limited (TSX: RIO) (OTCQX: RIOFF) has signed memorandums of understanding with two desalinated water distribution companies in the Copiapo area to supply water for expansion of the Fenix Gold Mine in Chile's Atacama Region, with the initiative potentially marking the first time desalinated water is transported from the coast to a high-altitude mine in the region. The expansion targets a production rate of 80,000 tonnes of ore per day to produce at least 300,000 ounces of gold per annum for approximately 10 years, with completion of desalinated water supply works and project capital works targeted for the second half of 2030.
"This is a significant milestone for the planned future expansion of the Fenix Gold Mine, and we are very pleased to have got to this position with the two potential water providers," said Andrew Cox , President & CEO of Rio2 . "We are very happy to be at the forefront of this exciting project and look forward to turning it into a reality."
Rio2 expects to complete a pre-feasibility study for the expansion by the first quarter of 2026 and a feasibility study by the second half of 2027, with first gold production from the current operation guided for January 2026 . The Fenix Gold Project hosts a measured and indicated mineral resource of 4.8 million ounces of gold and represents one of the largest undeveloped gold oxide heap leach projects in the Americas, with initial production targeting 17 years of operations.
Perpetua Resources Corp. (NASDAQ: PPTA) (TSX: PPTA) celebrated the Stibnite Gold Project advancing to development with state and federal officials including Idaho Governor Brad Little and U.S. Army Major General John Reim , following the U.S. Forest Service delivering a conditional Notice to Proceed. The project is expected to supply up to 35 percent of U.S. antimony demand during its first six years of operations and is projected to be one of the highest-grade open-pit gold mines in the United States , with gold reserves of approximately 4.8 million ounces and expected production of approximately 450,000 ounces of gold annually over its first four years.
"American readiness starts here. After years of thoughtful consideration, public feedback, and intensive review, we are ready to secure American antimony. Backed by the financial power of gold production and a plan to provide meaningful environmental benefits to this historical site, today marks a new chapter in American resilience," said Jon Cherry , President & CEO of Perpetua Resources . "We could not be prouder of our work to provide urgently needed antimony for our military defense."
Perpetua expects to begin early works construction this fall at the project, which received $80 million in Department of Defense funds and is designated as a FAST-41 Transparency Project. The project is designed to clean up legacy contamination left by previous operators, reconnect fish to their native spawning grounds, and create more than 950 jobs during construction and over 550 jobs during operations, with the company having already spent more than $20 million to improve water quality and cleaned up more than 375,000 tons of legacy waste and tailings.
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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