CORPORATE PRESENTATION - Q3 2021 TSX-V: TEM FRANKFURT: T23A - www.tembogold.com - Tembo Gold Corp.
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CORPORATE PRESENTATION – Q3 2021
TSX-V: TEM FRANKFURT: T23A
w w w . te m b og ol d . com
CAUTIONARY NOTE
This presentation includes certain statements that may be deemed forward-looking. All statements in this presentation, other than statements of historical facts,
that address future production, mineral resource or mineral reserve potential, results of exploration drilling, geological potential and continuity of geological
features, exploitation activities and events or developments that the company expects, are forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially
from those in forward-looking statements include market prices, exploitation and exploration successes, availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that actual results or developments may differ materially from those projected in the forward-
looking statements.
Additional information with respect to exploration on the Tembo gold property can be found in the technical report entitled "Report on the Tembo Gold Project
(pursuant to National Instrument 43-101 of the Canadian Securities Administrators) Geita District, Mwanza Region, United Republic of Tanzania", effectively dated
October 30, 2011, as revised July 31, 2012 (the "Report.") The Report is available on the company's website and under its SEDAR profile at www.SEDAR.com.
The information contained in this presentation has been prepared under the supervision of David Scott, Pr. Sci. Nat., who is designated as a "Qualified Person" with
the ability and authority to verify the authenticity and validity of the data.
2
TANZANIA – REAWAKENED EXPLORATION INTEREST
“A rehabilitated and re-energized North Mara is ahead of plan in the year to date and Bulyanhulu has resumed underground mining operations and is scheduled to
restart processing of underground ore by the end of 2020 as a long-life underground mine. We are gearing up to potentially make North Mara and Bulyanhulu into a
combined Tier One complex, capable of producing at least 500,000 ounces of gold annually for more than 10 years in the lower half of the industry’s cost profile. We
shall also be looking to expand the life of operations as well as other new Tanzanian opportunities within the Twiga framework.”
Barrick has been awarded 10 new exploration licenses in Tanzania and plans to spend $8 million on exploration there this year.
MARK BRISTOW, BARRICK GOLD, OCTOBER 23, 2020
3ISSUED / OUTSTANDING FULLY DILUTED
79,490,884 85,725,884
WHY INVEST IN TEMBO SHARE PRICE
$0.20 CDN
52 WK AVG DAILY VOLUME
Established Mining Region Extensive Artisanal Mining Activity
The Lake Victoria goldfield has Significant historical artisanal mining activity 0.10 - 0.235 83,576
improved infrastructure and mining along >13km of linear structures and
services with a 25-year history of mine represent less than 10% of potential TSX-V: TEM
development structures delineated by airborne magnetic
0.25
anomalies
Strategic Location 0.2
In proximity to a number of world class Leveraging State-of-the-Art Machine 0.15
multi-million-ounce deposits Learning And AI Technology
0.1
Multidisciplinary data driven science,
Highly Prospective Geology artificial intelligence, machine learning and 0.05
Known to host significant gold deposits expert knowledge by Goldspot to generate
0
within the same greenstone fragment and prioritise targets, optimising outcomes Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021 Jul 2021 Aug 2021 Sep 2021
and exploration expenditure
100% Interest OWNERSHIP
Tembo holds 100% of 174km2 licence Tight Capital Structure RETAIL
area adjacent to Barrick's 20Moz Tightly held capital structure, clean balance
MANAGEMENT / 30%
Bulyanhulu Mine, and is pursuing the sheet and shareholder and management INSIDERS
discovery of one or more multi-million-
ounce Au deposits
interests closely aligned
70%
High Quality Management And Advisory
Outstanding Early-stage Drill Results Team
Preliminary drilling that has returned a Extensive African, Tanzanian and gold OPTIONS
number of exceptional results that exploration and mining experience matched 6,235,000
highlight the potential with extensive capital markets experience 5,150,000 @ $0.15 | Granted: July 27, 2020 | Expire: July 27, 2023
1,085,000 @ $0.20 | Granted: July 27, 2020 | Expire: July 27, 2023
4HIGH QUALITY MANAGEMENT TEAM
A STRONG TEAM OF LEADERS WITH YEARS OF FIRSTHAND EXTENSIVE EXPERIENCE
DAVID SCOTT | PRESIDENT, CEO AND DIRECTOR MARC CERNOVITCH | DIRECTOR
o Former Technical Services Manager for Barrick Gold’s Bulyanhulu o Studied Economics at McGill University. Marc has focused on corporate development,
Mine, Tembo Project’s immediate neighbour funding and building companies primarily in the resource and energy technology fields
o Formerly Executive Director of Shanta Gold Limited, LSE-AIM o 25 years of experience providing capital markets advisory services to companies across
listed gold miner operating in Tanzania both public & private sectors. Strong background in corporate governance and finance
o Over 40 years of African exploration and mining experience with o Served as a director and advisor to numerous small and mid-cap companies
contemplating and/or executing financing and M&A transactions.
22 years in Tanzania
o Extensive knowledge of Tanzanian geology including direct
experience at Bulyanhulu FRANK HOEGEL | DIRECTOR
o Holds a BSc, Geology from the University of the Witwatersrand as
o Currently serves as Chief Executive Officer of Peter Beck Performance Fonds GbR, and
well an M.Sc., and is a registered Professional Natural Scientist (Pr.
advisory board of Concept Capital Management, an Asset Management Company
Sci. Nat.) and Fellow of the Geological Society of South Africa
o Master of Business Administration (FH) with a focus on Financial Management, Banking
and International Business & Management from the University of Nürtingen, Germany.
SIMON BENSTEAD | CFO, VP BUSINESS DEVELOPMENT AND DIRECTOR
o 20 years senior management experience in capital markets, formerly with
PAUL MAGEGE | COUNTRY MANAGER
Merrill Lynch as Vice President Institutional Equity Trading, and BMO Capital
Markets as Managing Director Institutional Trading focused on resources o A founding shareholder with strong local community and government relationships
o Significant and long-term supportive shareholder of Tembo; holds a BA in and a skilled administrator.
Commerce from The University of Western Ontario
5ADVISORY BOARD
EXPERIENCED CORPORATE, MINING AND EXPLORATION ADVISORS
BOB FOSTER EMMA PRIESTLEY IAN STALKER
o Geologist with more than 40 years of experience o Currently the Chief Executive Officer, Executive Director of o Currently a Director (formerly CEO & Director) of K92 Mining,
GoldStone Resources Ltd, (“GoldStone”), an AIM listed gold purchased from Barrick for $2million in 2014, now in 2021 a C$2 billion
o Expert in the genesis of and exploration for gold exploration and development company, focused on a market cap Canadian company, President & CEO of LSC Lithium, as
deposits throughout the world with a focus on Africa portfolio of projects in Ghana, and recently commenced well as the non-executive chairman of Helium One.
production at its Homase Mine
o Founder member and member of the management
o Over 40 years’ experience in development and mining projects across
team of Pan-African Mining Pvt Ltd that developed o She is a graduate of Camborne School of Mines, a chartered multiple jurisdictions in Africa, Europe, South America, and Australia.
the open pit Ayrshire gold mine in Zimbabwe in 1991- Mining Engineer and a Chartered Mineral Surveyor. He has significant experience in the corporate arena and has been
1996 and director of a major gold exploration Specialises in Africa and emerging market sectors, involved with numerous M&A transactions across a wide range of
programme for associated company Pan-Reef Mining developing and advising companies companies.
in Zimbabwe during 1994-1996
o Previously a director of Stratex where she provided o Raised over US$700 million for mineral resource projects, with a
o Co-founder of Stratex Exploration Ltd. (“Stratex”), listed guidance on business development and market liaison proven track record of delivering significant shareholder returns for
on AIM in January 2006 and CEO from listing to matters, in conjunction with which she was an adviser to investors.
August 2016. Stratex focused on gold and gold- African Resource Capital focussed on investments on the
copper exploration, initially in Turkey and then o Has held senior positions at major gold producers, notably as Vice
African Continent
throughout Africa, successful discovery the 1M oz President at Gold Fields and Managing Director (International
Öksüt gold deposit in Turkey o Previously Executive Director of Lonrho Plc, focussing on Projects) at Ashanti Goldfields.
opportunities in agriculture, infrastructure, logistics, and
o Fellow of the Geological Society of London (FGS), natural resources, and attracting investors to them, both in o Has been involved in either the construction and/or operation of the
Chartered Geologist (CGeol), Fellow of the Institute of equity and structured finance following gold mines: Sansu Ghana Open Pits and Oxide Treatment
Materials, Minerals and Mining (FIMMM), Chartered Plant- 420koz Au p.a.; Ashanti Open Pit and Underground Expansion
Engineer (CEng), Fellow of the Society of Economic o Emma has worked with GVA Grimley and IMC Mackay & and Biox Treatment Plant 500koz Au p.a.; Bibiani Mine (Ghana)
Geologists, and a Fellow of the Association of Applied Schnellmann, investment bank CSFB and advisers VSA 200koz Au p.a.; Siguiri Mine Guinea 250koz Au p.a.; Geita Mine
Geochemists Resources and Ambrian Partners, where she worked as a Tanzania 250koz Au p.a.; St Ives Mine Australia 500koz Au p.a; and
corporate broker and financial adviser Filon Sur mine Spain 40koz gold per year.
6ESTABLISHED
MINING REGION
§ Six modern mining operations and a number
of undeveloped large deposits
§ Significantly improved infrastructure
§ Strong gold endowment
§ Granite greenstone terrane with well
understood geological parallels worldwide
7Located adjacent to Barrick’s 20Moz Bulyanhulu Mine in the prolific Lake
Victoria Greenstone belt, Tembo’s ~174 km2 property has highly prospective
geology, encouraging earlier exploration with promising drilling results on
multiple targets. Less than 2% of potential gold hosting structure tested by
drilling. No Cu mineralization identified on the Tembo Project.
8BULYANHULU LONG SECTION BULYANHULU GEOLOGY
REEF 2 CONTINUES TO TEMBO PROJECT BOUNDARY MINERALISED REEFS ALONG STEEPLY DIPPING NORTHWEST
STRIKING STRUCTURES
African Barrick Gold Preliminary
TEMBO PROJECT BOUNDARY ~2KM TO THE NORTHWEST Results 2013 Presentation
§ A 20 million ounce narrow-vein shear hosted gold deposit with silver and copper mineralization § Volcanic sequence consists of mafic to intermediate
meta-volcanic flows overlain by felsic pyroclastic ash tuffs
§ Shear zone situated within a narrow argillite unit at a contact within a volcanic sequence
§ The zone strikes approximately 310 degrees and dips
§ Sulphide mineralization primarily pyrite and chalcopyrite in smokey quartz veins and sheared argillite steeply to the northeast
9LIDAR AND FIELD
MAPPING
§ Digital terrain model (DTM) and high
resolution orthophoto identified
numerous previously unrecorded
areas of artisanal mining
§ Laterally continuous arrays of mining
shafts extend up to 2km in strike and
total >10km
§ The three mined zone directions
strongly correlate with conjugate
structures reflected in the magnetics
TARGET DEFINITION
§ LIDAR interpretation, soil
geochemistry, airborne magnetics
and historical drilling define
numerous target areas
10EXTENSIVE ARTISANAL MINING ACTIVITY
SIGNIFICANT ARTISANAL MINING ACTIVITY FURTHER CONFIRMS GOLD MINERALIZATION. MILLING
AND RECOVERY ON SITE, WITH GRADES RANGING BETWEEN 5 AND 58 g/t GOLD.
§ Mining to depths generally in excess of 50m and reportedly as deep as 90m
§ Milling and recovery on site, with grades ranging between 5 and 58 g/t gold
§ Historical and current artisanal mining along a combined strike in excess of 10km
along northwest (Bulyanhulu parallel), northeast and east-west trending structures
§ Mineralized rock from artisanal pits consists predominantly of quartz vein and sheared
meta-volcanic host with abundant evidence of sulphide
11100% INTEREST
Tembo is currently pursuing the discovery of one or more multimillion-ounce deposits within the current licence area, immediately
adjacent to Barrick’s Bulyanhulu Mine – A high-grade underground gold mine owned and operated by Barrick Gold Corp.
SIGNIFICANT INITIAL DRILL RESULTS
Depth From Grade Au Length
BH ID
m g/t m
TDD0004 41.00 3.13 35.89
including 4.46 6.00
9.38 6.30
TDD0005 8.50 5.14
TDD0054
including
116.95
58.49
8.17
0.68
11.05 174km 2
TRC0013 19.00 17.23 4.00 PROJECT AREA
and 104.00 13.00 1.00
TRC0423 36.00 10.17 6.00 TEMBO GOLD PROJECT
TDD0041 299.00 22.81 15.00
TDD0071
including
85.25
34.58
9.64
9.70
3.95
50,000+
TANZANIA METRES DRILLED
including 24.72 1.45
TDD0074 370.46 6.55 7.46
TDD0107 43.88 16.58 3.55
and 65.90 27.88 3.00 Intercepts up to
TDD0111
including
53.35 35.14
167.00
2.45
0.50
300g/t Au
12NGULA 1 TARGET
MOST DRILL HOLES INTERSECTED
MULTIPLE GOLD BEARING STRUCTURES
§ Extensive east-west trending artisanal
activity including shafts to bedrock
and surface rubble
§ 76 drill holes completed, 41RC, 7,952m
and 35 DD, 7,623m
§ Diamond and RC drilling on 100m
spaced section lines along main
target with limited 50m-spaced in-fill
drill holes
§ Heel-toe RC drilling conducted to test
between primary structures
§ Multiple mineralised structures
intersected down to 200m
13MOST DRILL HOLES
NGULA 1 TARGET DRILLING HIGHLIGHTS INTERSECTED MULTIPLE GOLD
BEARING STRUCTURES
Grade Au Length Depth From Grade Au Length Depth From
BH ID BH ID
g/t m m g/t m m
TDD0004 3.13 35.89 41.00 TRC0001 38.20 1.00 85.00
including 4.46 6.00 TRC0002 2.58 2.00 8.00
and 9.38 6.30 and 2.74 1.00 36.00
TDD0005 8.50 5.14 152.86 and 3.77 1.00 54.00
including 58.49 0.68 TRC0003 3.76 2.00 21.00
TDD0010 3.72 2.50 189.00 and 28.57 3.00 54.00
including 6.44 1.20 and 5.28 4.00 72.00
TDD0012 8.60 0.98 171.92 TRC0006 4.42 1.00 5.00
TDD0041 22.81 15.00 299.00 and 4.41 2.00 207.00
including 34.58 9.70 TRC0008 5.18 1.00 9.00
TDD0049 2.99 2.00 23.00 and 3.75 6.00 35.00
TDD0053 2.86 2.03 266.00 TRC0013 17.23 4.00 19.00
including 5.37 1.47 and 4.22 1.00 87.00
TDD0054 8.17 11.05 116.95 and 13.00 1.00 104.00
and 3.71 2.04 133.00 TRC0014 19.80 1.00 114.00
including 7.00 1.00 TRC0022 2.26 2.00 132.00
and 2.43 3.00 141.00
including 3.19 2.00
TDD0106 5.09 2.77 285.42
including 11.70 0.98
TDD0110 4.22 5.00 195.00
including 6.58 3.00
TDD0125 19.03 0.94 35.16
and 5.90 1.14 208.00
TDD0133 4.81 0.62 176.38
TDD0146 2.35 1.50 167.90
14NYAKAGWE EAST
MULTIPLE MINERALISED NORTHWEST TRENDING
STRUCTURES TESTED AND INTERSECTED
§ Nyakagwe East is an approximately 300m
wide zone of artisanal mining with numerous
shafts in excess of 20m extending
approximately 600m on a northwest trend.
§ 43 drill holes completed, 20 RC 2,238m, 23 DD
6,924m
§ Drill holes on 100m and 50m spaced lines and
testing to depths up to 250m
§ Multiple sub-parallel structures to the south
and north
§ Structures sub-parallel to Buly-trend
15NYAKAGWE EAST DRILLING HIGHLIGHTS
Grade Au Length Depth From Grade Au Length Depth From
BH ID BH ID
g/t m m g/t m m
TDD0019 2.50 3.85 65.95 TDD0070 2.81 1.41 94.43
Including 4.69 1.67 TDD0070A 4.50 0.35 48.05
TDD0020 2.12 1.00 250.00 and 3.15 0.94 93.24
TDD0021 3.17 0.60 188.60 and 3.19 0.51 98.90
TDD0024 2.13 0.46 297.04 TDD0072 8.44 1.30 99.90
TDD0026 2.83 0.45 221.77 including 25.00 0.42
and 2.83 0.78 223.53 and 2.76 0.30 158.75
TDD0029 2.56 1.47 140.53 TDD0074 6.55 7.46 370.46
and 2.61 0.32 270.47 TDD0077 2.62 1.50 136.00
and 61.80 0.68 277.24 TDD0104 4.72 2.11 66.80
TDD0030 2.62 3.29 48.21
including 4.57 1.61 and 4.49 1.00 296.00
TDD0031 2.59 0.85 45.60 TDD0127 2.94 4.00 117.00
and 4.88 0.30 87.00 and 4.45 0.38 206.42
and 5.28 0.61 263.69 and 2.61 0.54 212.76
TDD0032 9.02 0.22 41.91 and 4.16 0.35 222.20
and 3.19 0.51 291.81 TRC0221 2.42 1.00 83.00
TDD0055 2.00 0.55 140.70 TRC0233 5.66 1.00 84.00
TDD0056 4.42 2.60 130.60 TRC0234 5.46 2.00 110.00
including 10.57 1.00 TRC0347 6.48 2.00 8.00
and 8.56 0.30 210.80 TRC0465 3.25 1.00 42.00
TDD0058 8.75 0.50 3.30 and 2.36 1.00 60.00
6.24 0.50 5.00 TRC0468 2.11 2.00 136.00
16NYAKAGWE VILLAGE
A RECENT HIGH GRADE ARTISANAL DISCOVERY
BENEATH COVER
§ East-west trending magnetic lineaments reflecting
high-grade south dipping mineralised shear zones
with vertical artisanal shafts
§ 26 drill holes completed, 11 RC 1,315m, 15 DD 2,916m
§ 100m and 50m spaced drill section testing to depths
up to 250m
§ Intersecting northeast trending magnetic lineaments
interpreted as secondary structural control
§ Multiple east-west structures
§ The east-west mineralisation potentially extends to
Nyakagwe East to the east
§ Wide mineralisation associated with structural
intersections
17NYAKAGWE VILLAGE DRILLING HIGHLIGHTS
PROMINENT STRUCTURAL CORRESPONDENCE BETWEEN MAGNETIC LINEAMENTS AND MINERALISATION
Grade Au Length Depth From
BH ID
g/t m m
TDD0071 9.64 3.95 88.7
including 24.72 1.45
TDD0101 78.10 1.00 294.00
TDD0102 2.90 0.92 48.08
and 2.31 0.97 263.03
TDD0103 15.10 1.00 54.00
TDD0107 16.58 3.55 43.88
and 27.88 3.00 65.90
TDD0109 2.05 1.65 54.35
and 2.00 1.13 115.55
and 2.39 3.48 121.82
TDD0111 35.14 2.45 53.35
including 167.00 0.50
TDD0112 3.35 5.98 64.12
and 2.94 2.00 72.00
TDD0115 2.41 1.70 33.00
and 2.74 8.50 53.00
and 2.04 9.00 69.00
TDD0128 4.00 0.73 147.12
TDD0137 2.63 1.50 38.00
TRC0552 8.42 3.00 86.00
TRC0554 2.53 1.00 47.00
TRC0562 2.03 1.00 19.00
and 4.61 5.00 82.00
18STATE-OF-THE-ART MACHINE
STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
LEARNING AND AI TECHNOLOGY
Having spent more than US$25 million to date on exploration, mostly on drilling,
Tembo is sitting on a treasure trove of data waiting to be interpreted. To analyze this
large data set, Tembo recently entered a collaboration agreement with Goldspot
Goldspot applied the experience and
Discoveries Corp, to apply Next-Generation Analytics and Decision Support. knowledge of a multidisciplinary
geoscientific team as well as artificial
intelligence computing technology to
interpret the Tembo and regional
GoldSpot Discoveries is using machine learning as a very powerful extension of
geological data to generate and
geological brainpower to unlock deep value in exploration and investment data.
The team comprises of subject-matter experts covering geology to data science, prioritize exploration targets within
including 8 Ph.D., 10 M.Sc., and 10 professional designations in Engineering and Tembo's licence area.
Geoscience.
Utilizing data driven science, artificial intelligence and machine learning, Goldspot is
PAST AND CURRENT CLIENTS OF GOLDSPOT DISCOVERIES CORP.
examining our entire database looking for trends to identify areas of potential
mineralization at various depths while seeking to minimize exploration risk and
mitigate exploration and drilling costs.
19STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
TARGET GENERATION
INTEGRATION OF MULTIDISCIPLINARY INTERPRETATION DEFINED
NUMEROUS TARGETS AND PROVIDED BASIS FOR PRIORITISATION
§ 54 exploration target points selected and prioritized
using a scoring system
§ Geophysics interpretation is the primary tool for both
target establishment and priority NGULA 1
§ Top 20 targets reviewed to determine 2021-22
exploration follow-up priority and work programme
§ 2021 first initial drill programme to targets two priority
targets with initially RAB, followed by RC and DD NYAKAGWE VILLAGE
drilling as merited NYAKAGWE EAST
202021 FOLLOW-UP DRILLING
PROGRAMME
STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
KEY SUCCESSFUL BOREHOLES OF PREVIOUS DRILLING EARMARKED
FOR CLOSE SPACED FOLLOW UP TO ACCURATELY DETERMINE
STRUCTURAL DISPOSITION OF HOST AND MINERALISATION
§ Selected boreholes from three previous targets, Ngula 1, Nyakagwe East and
Nyakagwe Village
§ A combination of multiple wedge intersections and/or twin holes and close-
spaced holes at each borehole and structural analysis of oriented core
§ First of the many targets identified through the GoldSpot collaboration to be
followed up with initially near surface soil geochemistry and CBI drilling,
followed by RAB, RC and DD
§ Two new Goldspot targets to be tested in the first phase 2021 programme
§ Programme will comprise 7,500m RAB, 5,500m RC and 2,000m DD
§ Drilling is scheduled to commence September and be completed with all
results by end Q1 2022
§ Programme budgeted at USD2.5M (CAD3M)
21FOLLOW UP EXPLORATION
2021-22
STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
ASIDE FROM THE IMMEDIATE FOLLOW-UP DRILLING. FURTHER
AIRBORNE GEOPHYSICS AND SURFACE SOIL AND WHOLE ROCK
GEOCHEMISTRY RECOMMENDED
§ Airborne EM recommended and will be considered
once 2021 first phase drilling completed
§ Portable XRF whole rock analysis of core to
characterize the alteration around mineralized
structures
§ Selected areas identified for closer spaced follow-up
soil geochemistry and/or shallow cover-bedrock
interface drilling over interpreted structures at
prioritized targets
Proposed area to fly an airborne EM survey
22Q4 2020 – Q2 2021 TARGET GENERATION AND PRIORITISATION Q4 2020 – Q2 2021
• GoldSpot study, target generation and results evaluation
• Confirm and prioritise existing and new targets
• Drill programme design and budget estimation
Q3 2021 – Q4 2021 FOLLOW-UP AND FIRST PASS DRILL PROGRAMMES Q3-Q4 2021
• Extend drilling along strike and downdip, follow-up exceptional
intersections, e.g. TDD0041: 22.81g/t Au/15.00m/from 299.00m
• Commence drilling on new targets using RAB and progress through to RC
and DD drilling as results warrant
Q1 2022 – Q4 2022 ORE RESOURCE DRILL OUT– Q1 2022 – Q4 2022
• Extensive resource drill out as warranted by results
Q1 2023 – Q2 2023 ORE RESOURCE MODELING – Q1-Q2 2023
• Develop wireframe models and commence resource determination as drill results justify
Q3 2023 – Q4 2023 SCOPING STUDY AND PEA PROGRAM – H2 2023
• Complete resource model
• Preliminary mine design
• Metallurgical characterization studies
• Process plant basic design
MAIDEN RESOURCE • Establish optimum production rate
DEVELOPMENT • Estimate Capex & Opex costs
• Develop a PEA financial model
GOAL H1 2023 • Identify studies to complete a Pre-Feasibility Study
23INVESTMENT SUMMARY
HIGHLY PROSPECTIVE GOLD ASSET
Located adjacent to Barrick’s 20Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone belt, the ~174km2 property has highly prospective
geology, encouraging earlier exploration with promising drilling results on multiple targets. Less than 2% of potential gold hosting structure tested by
drilling. No Cu mineralization identified on the Tembo Project.
HIGH QUALITY MANAGEMENT TEAM
Over 40 years of African exploration and mining experience with 22 years in Tanzania, understanding of local environment
EXTENSIVE ARTISANAL ACTIVITY
Large number of artisanal workers, mining from tens of shafts some to depths in excess of 50m along a >10km strike, extracting high grade 5 to 58 g/t
gold material
SIGNIFICANT INITIAL DRILL RESULTS
Best intercepts include TDD0041: 22.81g/t Au over 15.00m from 299.00m including 34.78g/t Au over 9.70m from 302.30m; TDD0004: TDD0004: 4.46
g/t gold over 2.60 and 9.38 g/t gold over 6.30m; TDD0005: 10.76 g/t gold over 4.00m, including 93.3 g/t gold over 0.38m and; TRC0013: 16.10 g/t gold
over 3.00m and 4.01 g/t gold over 3.00m, TRC0423: 10.17g/t gold over 6m from 36.0m including 19.1g/t gold over 3m, with over 1,500m of mineralized
strike identified in two project areas
24CANADA
Suite 1305, 1090 West Georgia Street
Vancouver, BC,
V6E 3V7 Canada
Tel: 604-685-9316
TANZANIA
Plot 1099 31 Merarani Rd, Masaki
Dar es Salaam, Tanzania
MOB: 255 767 366 146
INVESTOR RELATIONS
Tel: 604-685-9316
investors@tembogold.com
w w w . te m b og ol d . com
25APPENDIX
26PRELIMINARY
METALLURIGICAL TESTING
PRELIMINARY METALLURGICAL TEST WORK INDICATES ~90-95% GOLD RECOVERIES
GOLD DEPORTMENT PROCEDURE
Gravity Separation of the Low grade sample Gravity Separation of the Medium grade sample
100 100
§ Artisanal face samples grouped and composited into low, medium and high-grade 90 90
80 80
70 70
Distribution (%)
60 Mass 60
Mass
§ Amenability to gravity recovery tested by Knelson concentrator 50
40
Gold
50
40
Gold
Sulphur Sulphur
30 30
20 20
10 10
§ Mineralogical characterisation of gold established 0
Grav. Conc Grav. Tails
0
Grav. Conc Grav. Tails
Gravity Separation of the High grade sample
§ Gold exposure and grainsize determined
100
90
§ Diagnostic leach of gravity tails and direct cyanidation of bulk sample
80
70
Distribution (%)
TEST WORK RESULTS 60
Mass
50
Gold
§ Gold is well liberated and well exposed
40
Sulphur
30
§ Direct cyanidation of head samples indicates high gold recoveries for medium (94.7%) 20
and high grade (98.9%) composites but low recovery (87.3%) for low grade composite 10
0
Grav.Conc. Grav. Tails
§ Gravity recovery plus direct cyanidation of gravity tails would be an effective method
to recover the gold
27BARRICK’S
BULYANHULU
GOLD MINE
A high-grade underground gold
mine owned and operated by Barrick
Gold Corp.
TOTAL RESERVE AND RESOURCE OF
MORE THAN: 10Moz
MINED TO DATE
AT BULYANHULU: ~5MOZ Au
MORE INFORMATION HERE: https://www.barrick.com/English/operations/bulyanhulu/default.aspxTEMBO ENGAGES
WITH THE
COMMUNITY
Since inception of the project Tembo
has been committed to stakeholder
engagement and becoming a
valued member of the community
Solid early groundwork was
conducted to identify community
risks and needs
Considerable scope identified to
improve the social-economic status
of the surrounding villages and
positively impact the natural
environment
A systematic and documented
approach to HSEC matters has been
adopted
Approach aligns with international
best practice, the Equator Principles
and the IFC Performance Standards
29NEW TARGET GENERATION
STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
PRELIMINARY MULTI-DISCIPLINARY
STUDIES COMPLETED
§ All Tembo’s historical data cleaned and digitized
§ Multi-disciplinary team conducted interpretation
§ Machine Learning, Artificial Intelligence software
techniques applied and integrated with
interpretations
§ Geophysical, geochemical, regolith mapping and
drilling data studied
§ Structural model developed to identify trends that
may host mineralization and correlated with other
datasets such as geochemistry
§ Significance of correlations with adjoining Bulyanhulu
Mine mineralization and structure
30STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
STRUCTURAL INTERPRETATION
INTEGRATION OF GEOLOGICAL UNDERSTANDING AND
GEOPHYSICAL INTERPRETATION
§ Earlier interpretations considered as a starting point
and new work aimed at improving overall
interpretation
§ Integration of magnetic interpretation with structural
model to establish a consistent interpretation
§ Current focus on main trends that may host
mineralization
§ Sourcing more regional data to improve
interpretation
31STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
GEOCHEMICAL SIGNATURES
CONSIDERATION OF WHOLE ROCK GEOCHEMISTRY AND
SURFACE EXPRESSION IN RADIOMETRIC SIGNATURE
§ Identification of associated whole rock alteration
signatures with gold mineralization
§ Characteristic mineral assemblages associated with
mineralization (e.g. muscovite saturation index)
§ Clear correlation of alteration, gold mineralization and
structures
§ Extrapolation into areas without data
32STATE-OF-THE-ART MACHINE LEARNING AND AI TECHNOLOGY
MACHINE LEARNING
AND DATA
ANALYTICS
UNSUPERVISED REGOLITH MAPPING AND
BAND RATIOS OF ASTER IMAGES
§ Unsupervised ASTER image cluster analysis
§ AlOH group content
§ ASTER imagery band ratio imagery
§ AiOH group composition and content
§ FeOH group content, Ferric Oxide content
§ Interpretations being developed
33HIGH QUALITY TECHNICAL TEAM
TEMBO PROJECT EXPERIENCED TEAM MEMBERS
LYNETTE GREYLING – GEOLOGICAL ADVISOR ALAN GOLDSMITH - GEOLOGICAL, GIS AND DATABASE ADVISOR
o Geologist with 15 years' experience on orogenic gold and base metal mineralization in industry and
o Exploration career commenced in 1991 in the Barberton Greenstone
academia.
Belt conducting brownfields gold exploration with Anglovaal Limited
o Six years spent in exploration with Randgold Resources in Tanzania, Cote d'Ivoire, Senegal and Mali
o Further four years spent conducting base metal and gold exploration
on greenfields, brownfields and feasibility phase gold exploration on Archaean and
in southern Africa
Palaeoproterozoic orogenic gold mineralization.
o Three years spent in Anglovaal’s head office conducting desktop
o Spent two years as post-doctoral research fellow at the University of Cape Town with research
studies, including developing conceptual models, undertaking project
focused on Birimian orogenic gold mineralization in Cote d'Ivoire, with an emphasis on target
reviews in base and precious metal projects encompassing diverse
generation and ranking, using hydrothermal alteration vectors.
geological terranes in Africa
o Spent four years as Economic Geology lecturer at the Department of Geological Sciences, University
o Designed, implemented and managed a Geographical Information
of Cape Town, with a research focus on palaeohydrothermal fluid flow in orogenic gold
System for Anglovaal’s geological department and remote regional
mineralization systems in West Africa, using fluid inclusion microthermometry and stable isotope
offices
geochemistry to identify and characterize fluid pathways.
o Fellow of the Society of Economic Geologists (SEG), Fellow of the Geological Society of South Africa o Since leaving the restructured Anglovaal in 2001, has run his own
(GSSA), Past Regional VP (Africa) of the Society of Geology Applied to Mineral Deposits (SGA), business Spatial Data Technologies, before joining The Mineral
Corporation as a specialist geologist and GIS analyst, during which he
registered Professional Natural Scientist Pr. Sci. Nat. with SACNASP.
was a member of the Tembo Gold startup team in 2011 and early 2012
o Holds a PhD from the University of the Witwatersrand where her research was on hydrothermal fluid
flow during copper and cobalt mineralization in the Central African Copperbelt. Holds an MSc from o Currently an independent consultant providing exploration services in
the University of Johannesburg where her research was on Pb-Zn mineralization characterization of strategic planning, agreement negotiation, conceptual studies and
modeling, geologic terrane knowledge development, target
Palaeoproterozoic MVT deposits.
generation, desktop studies, GIS database management, data
o Currently an independent consultant providing prospectivity analysis review, target generation, modeling and exploration management
hydrothermal systems characterisation, geological modelling and exploration review.
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