Lake Victoria Mining Company Inc triples Kalemela Gold Project in northern Tanzania

Roger A Newell PhD, the president and CEO of gold mining company Lake Victoria Mining Company Inc (OTCBB:LVCA.OB), reported on 11 November the acquisition of two exploration licenses (PL 2910, PL 3006) in Lake Victoria Greenstone Belt, Tanzania, subject to final payment, thus expanding its footprint in this prominent, productive and highly prospective gold belt.
The company said the new licenses are contiguous with the existing Kalemela License PL2747. The Kalemela Gold Project will contain over 260 square kilometres at the end of the transaction. A Lake Victoria Mining Company Inc will acquire a 60% ownership of the licenses for cash, shares, as well as a three year exploration commitment under the agreement with Geo Can Resources Ltd. The company is also provided with the option to acquire up to a 100% interest in the licenses.