Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER — Baystreet.ca — Central banks purchased more than 1,000 tonnes of gold annually for the fourth consecutive year in 2025, a buying pace unprecedented in modern history, as emerging market monetary authorities diversified reserves away from dollar-denominated assets[1]. Gold responded by breaching $5,000 per ounce for the first time in January 2026, peaking at $5,589 on January 28 and sustaining levels above $5,100 through early March[2]. Five companies are advancing projects that could benefit from the structural shift in gold demand: Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF), McFarlane Lake Mining (CSE: MLM) (OTC: MLMLF), TRX Gold (TSX: TRX) (NYSE-A: TRX), Fortune Bay (TSXV: FOR) (OTCQB: FTBYF), and Banyan Gold (TSXV: BYN) (OTCQB: BYAGF).
China led global gold ETF inflows in February 2026 as trade tensions and currency depreciation fears drove investors toward hard assets[3]. Global gold ETF holdings reached 4,145 tonnes by the end of January, pushing assets under management to $669 billion, the highest level since the pandemic-era peak in October 2020[4]. For gold developers with fully permitted projects and near-term production timelines, this macro tailwind creates favorable conditions for financing, partnerships, and strategic transactions.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has completed drilling and received all analytical results from its recent program at the Imwelo Gold Project in Tanzania, confirming mineralization extends well beyond the current pit design at Area C. The results strengthen confidence in the geological model and represent a step toward final pit optimization and development planning as the company advances toward construction readiness.
Twenty-one holes were completed, with highlights including 11.88 g/t gold over 1.33 meters from 169.75 meters depth, 9.31 g/t over 2.45 meters from 130 meters, and 6.96 g/t over 2.56 meters from 132.80 meters. The drilling accomplished several objectives at once: it confirmed mineralization continues down-dip beneath the planned pit, it identified new zones to the east and west of the current design, and it delivered geotechnical data needed to finalize pit shell optimization.
“These results further validate Imwelo as a near-term production asset,” said Marc Cernovitch, President and CEO of LVG. “We have now demonstrated continuity of mineralization beyond the current pit design, both at depth and laterally, which strengthens confidence in the geological model underpinning our development plans.”
The technical picture is tightening. Mineralization now shows geological continuity to over 250 meters vertical depth, compared to the historical resource limit of roughly 200 meters. The average vertical intersection depth from this program was approximately 120 meters, more than double the historical drilling depth of around 50 meters. That gives the company information below previously modeled limits and supports potential resource conversion from Inferred to Indicated classification.
Two dedicated geotechnical drill holes were completed, providing oriented core for detailed logging and rock mass characterization. The resulting data will support refinement of slope angles, wall support requirements, and ramp geometry, completing the in-pit geotechnical dataset required for final pit shell optimization.
It should be also noted that Atrium Research recently re-initiated coverage on Lake Victoria Gold with a BUY rating and a $0.50 per share target price, citing the path to production at Imwelo and strategic partnerships that could deliver cash through milestone payments and exploration success.
Imwelo sits just 12 kilometers from AngloGold Ashanti's Geita Mine and is fully permitted for mine construction and production. The company previously completed geotechnical studies supporting consolidation of Area C into a single continuous open pit, while the Tembo Project delivered surface grades up to 35.45 g/t gold from artisanal mining sites.
With drilling complete and analytical results received, Lake Victoria Gold is moving methodically from definition toward execution.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
CONTINUED… Read this and more on 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:
McFarlane Lake Mining (CSE: MLM) (OTC: MLMLF) announced drill results from its Juby Gold Project in Ontario, intersecting 95.4 meters grading 1.36 g/t gold, including 55.4 meters at 1.96 g/t gold and 9.9 meters at 3.22 g/t gold at the Golden Lake Zone. The company also expanded the 826 Zone mineralization envelope to 300 meters along strike.
“What we have intersected so early in the drill program is extremely encouraging,” said Mark Trevisiol, CEO and Chairman of McFarlane Lake Mining. “The intersection at Golden Lake significantly widens the mineralized envelope that defines the current mineral resource estimate. The additional discovery of gold at our 826 Zone introduces another mineralized area on the project, some 1.5 kilometres away from the existing mineral resource estimate.”
The Juby Gold Project sits in the southern Abitibi Greenstone Belt in Ontario, one of the world’s most prolific gold-producing regions. The company is adding a second diamond drill to expedite exploration and plans further drilling at both the Golden Lake and Juby deposits over the coming months.
TRX Gold (TSX: TRX) (NYSE-A: TRX) reported record quarterly production of 7,453 ounces of gold in Q2 2026, a 13% increase over the prior quarter, at its Buckreef Gold Mine in Tanzania. The company benefited from access to higher-grade ore and improved mill recoveries following process plant upgrades, while advancing plans for expansion to 3,000 tonnes per day.
“We’re very pleased with the positive trajectory and record gold production achieved at Buckreef Gold this quarter,” said Stephen Mullowney, CEO of TRX Gold. “We are now on a significant growth trajectory, and things are getting really exciting! We are anticipating growth in production and resources over time as we continue to execute our plant expansion, increase exploration and evaluate implementation of an optimized mine plan as a result of higher gold prices.”
Buckreef Gold is located in the Lake Victoria Goldfields of Tanzania, approximately 170 kilometers south of Lake Victoria. The company’s PEA outlines a base case NPV of $701 million pre-tax, and with $25 million in cash following recent warrant exercises, TRX Gold is well-capitalized to fund its expansion program.
Fortune Bay (TSXV: FOR) (OTCQB: FTBYF) announced assay results from exploration drilling at its Goldfields Gold Project in Saskatchewan, intersecting 2.54 g/t gold over 17.0 meters, including 6.61 g/t gold over 5.0 meters, at the Box deposit. The results confirm structurally controlled, higher-grade mineralization extending well beyond the open pit limits defined in the Updated PEA.
“While PFS-level development is advancing for an open-pit mine at Goldfields, we believe the broader gold resource base has meaningful growth potential through continued expansion and exploration drilling at numerous targets,” said Dale Verran, CEO of Fortune Bay. “With nearly all the PEA open-pit resources already classified in the Indicated category, we are uniquely positioned to direct our drill budget toward expansion and discovery rather than resource delineation infill.”
The Goldfields Gold Project is located in Saskatchewan, which consistently ranks among the world’s top mining jurisdictions. The company is advancing a PFS for an open-pit gold mine while simultaneously drilling expansion targets that could add near-mine ounces and enhance the project’s long-term economics.
Banyan Gold (TSXV: BYN) (OTCQB: BYAGF) reported high-grade gold mineralization and visible gold at the Powerline deposit within its AurMac Project in the Yukon, intersecting 1.82 g/t gold over 26.2 meters and 4.64 g/t gold over 7.7 meters, including a high-grade interval of 19.90 g/t gold over 1.5 meters. The 2026 drill program is underway with five rigs on site.
“The continued discovery of high-grade mineralization, which is often associated with visible gold, demonstrates the continuity of the mineralized domains and emphasizes the high-grade potential in the core of the Powerline Deposit,” said Tara Christie, President and CEO of Banyan Gold. “Our drill program for 2026 is underway with five drills on-site. As we continue to receive results from the 2025 drill program, we anticipate an active news cycle in the coming months.”
The AurMac Project hosts an Indicated resource of 2.274 million ounces and an Inferred resource of 5.453 million ounces of gold across the Airstrip and Powerline deposits. The fully funded 40,000-meter 2026 drill program is designed to expand and upgrade the resource base in the prolific Tombstone Gold Belt.
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.gold.org/goldhub/research/gold-demand-trends
2. https://www.kitco.com/charts/livegold.html
3. https://zeenews.india.com/economy/global-gold-etfs-saw-continued-inflows-in-february-world-gold-council-2869705.html
4. https://doctorforexblog.com/2026/02/06/gold-etf-inflows-record-january-2026
