Tembo GOLD Technical Collaboration Agreement
TEMBO GOLD TECHNICAL COLLABORATION AGREEMENT
Vancouver, BC – August 20th , 2020 - Tembo Gold Corp. (TSXV: TEM) ("Tembo" or the "Company”) is
pleased to announce that the Company has entered a collaboration agreement with GoldSpot Discoveries
Corp ( “GoldSpot”), whereby GoldSpot will apply the experience and knowledge of a multidisciplinary
geoscientific team as well as artificial intelligence computing technology to interpret the Tembo and
regional geological data to generate and prioritise exploration targets within Tembo’s licence area.
Highlights
• GoldSpot is a Canadian-based multidisciplinary team of geoscientists and data scientists engaged
in the exploration and mining industry offering interpretative and advisory services utilising their
team and computational methods incorporating multivariate analysis.
• Tembo has engaged GoldSpot to re-process and re-interpret the Tembo data together with public
domain regional data as an independent expert consultant.
• Tembo will provide GoldSpot with all historical exploration data including regolith mapping, soil
geochemical results, cover -bedrock interface RAB drilling results, reverse circulation drilling
results, diamond drilling results, raw airborne magnetic and r adiometric geophysical data and
interpretations, LIDAR generated DTM and orthophotography data.
• The project will process, integrate, and interpret the data, applying data analytics and AI
techniques, and geological knowledge to generate and prioritise targets.
• The exploration targeting deliverables resulting from the project will include high quality maps,
2D and 3D interpretations and a comprehensive report.
• Regular communication and interaction with the Tembo team will ensure a collaborative
approach.
• The computation technology and multidisciplinary approach offered by GoldSpot is appropriate
for the extensive and rich database available to Tembo through the historical work.
• Two phases of study are planned, initially the first phase will focus on the regio nal level of the
extensive property and surrounding geological terrane, and the second phase will follow, focusing
on the brownfield targets where Tembo has already returned promising results.
• As results arise Tembo will initiate follow -up field work programmes, primarily consisting of
further detailed geological techniques including geophysics and geochemical methods, as well as
drilling, where considered appropriate.
Mr. Simon Benstead, Director & CFO, stated “Having spent US$25M on drilling campaigns between 2011
and 2014 Tembo is sitting on a treasure trove of data waiting to be interpreted. GoldSpot will examine
our entire data base looking for trends to identify areas of potential mineralization at various depths
while seeking to minimize exploration risk and mitigate exploration and drilling costs. We are excited to
work with GoldSpot, leveraging their state-of-the-art machine learning and A.I. technology to reduce
capital risk as we plan our drill program."
David Scott , President & CEO , stated “Our team is extremely excited to have secured the services of
GoldSpot for this next phase of our exploration of the Tembo project. The integrative multidisciplinary
approach and innovative use of computer techniques promises to advance the project considerably and
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optimize our work programs and expenditure, fast tracking our endeavors to drilling, targeted for Q4 2020
and 2021 with a view to a resource development thereafter.”
Denis Laviolette, Executive Chairman and President o f GoldSpot stated “The increase in gold price has
resulted in an increased interest in high quality explores, Tembo Gold being one of them. We are excited
to bring our team and narrative to another district size play with high impact potential. Tembo’s gold asset
is a 110 KM 2 contiguous area adjacent to Barrick Gold’s Bulyanhulu Mine the prolific Lake Victoria
greenstone belt of Tanzania. Throughout the years a warchest of data has been collected and we are
excited to use our expertise to unlock value in Tembo’s prolific land package.”
About Tembo Gold Corp.
Tembo is a Canadian publicly listed mineral exploration company with a 100% interest in the Tembo Gold
Project. Tembo’s focus is the discovery and development of gold projects in Africa. The Company has
assembled a highly experienced team with a proven history of developing, financing, and operating mining
projects in Africa. The Company’s exploration strategy is to discover mineral resources as well as continue
to look for additional opportunities that can bring value to the Company and shareholders.
On Behalf of the Board of Directors of Tembo:
David Scott
President & CEO
Phone: 255-767-366146
Email: [email protected]
For more information please contact:
Simon Benstead
Director & VP Corporate Development
Phone: 604-685-9316
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking
statements are often, but not always, identified by the use of words such as "seek", "anticipate; "plan",
"continue; "estimate; "expect", "may, "will", "intend", "could", "might", "should", "believe" and similar
expressions. This news release contains forward -looking statements, including, without limitation, the
anticipated filing date for the Required Filings. Forward-looking statements are based upon the opinions
and expectations of management of the Company as at the effective date of such statements and, in
certain cases, information provided or disseminated by third parties. Although the Company believes that
the expectations reflected in such forward -looking statements are based upon reasonable assumptions,
and that information obtained from third party sources is reliable, they can give no assurance that those
expectations will prove to have been correct. Readers are cautioned not to place undue reliance on
forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may
differ materially from results contemplated by the forward -looking statements. Factors that could cause
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actual results to differ materially from those in forward-looking statements include that the Company does
not file its Required Filings by the anticipated date. Accordingly, the actual events may differ materially
from those projected in the forward-looking statements. When relying on forward-looking statements to
make decisions, investors and others should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such forward-looking statements. The Company does
not undertake to update any forward -looking s tatements, except as may be required by applicable
securities laws.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.