AXcess News: Lake Victoria Mining Bets Heavily on Gold Property

  Microcap gold exploration and development
company, Lake Victoria Mining Co. (OTCBB: LVCA), is betting heavily on its
Tanzania gold property, encouraged by recent assays.

While most precious metals investors are watching the price of gold go down, Lake Victoria Mining sees opportunity in its claims, optimistic that further exploration development can prove a win-win scenario for its investors.

Lost in the news on Election Day was an announcement from the Colorado-based LVCA that samples collected at its Kalemela gold project, about 125 kilometers east of Mwanza in northern Tanzania, were encouraging enough for the Company to proceed with further exploration.

Lake Victoria Mining President Roger Newell said, "These are the kind of gold-in-soil assays that encourage us to take the next exploration steps toward defining a mineable deposit."

Newell's company was the only gold exploration miner to release bullish news on Tuesday. The Stanford-educated Dr. Newell is no stranger to success in the field of precious metals geology, having worked on Newmont Mining Co's Nevada gold exploration, credited with having steered Newmont into becoming a high-producer, where he served as its senior geologist. Now, Dr. Newell is betting on Tanzania's gold belt, which is the third-largest gold production area in Africa.

"According to Lake Victoria Mining Co's website, two other executives are involved, though in looking at Newell's background I get the impression that the company's recent magnetic ground survey on its property will call for more than concentrated exploration within its claims in the way of other management if LVCA looks to finance growth," said Axcess News' Alan Fein.

For a junior exploration company in a down precious metals market to laud over its property, Dr. Newell may be betting on his discovery proving itself to be his crowning achievement in a geological career that spans more than 40 years.

Note to Editors: "News Features" are stories provided to publishers copyright-free for print or online display at no charge. All we ask is that publishers include our byline (AXcess News) as the source or if online, link to our Web site: http://www.axcessnews.com. If you are interested in displaying our news on a regular basis, please contact our editorial department at: 775-882-8381 or by email at: [e-mail].

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact: AXcess News 775-882-8381 Email Contact