Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Shanta hits encouraging gold grades in drilling at Singida

The results go towards boosting the resource below the currently envisaged pits
gold
Shanta is already producing gold at another project, New Luika

Shanta Gold Ltd (LON:SHG) has hit more gold at its Singida project in central Tanzania.

The company conducted exploration and resource infill reverse circulation during the first quarter of 2018 to test down-dip and down plunge continuity of high grade mineralised shoots below the current designed pits.

READ: Shanta Gold reports strong final quarter for New Luika Gold Mine with gold production up 17%

The aim is to update the resource and move it up the inferred to the measured and indicated categories.

Assay results for the first 15 holes have been received and are currently being modelled.

Encouraging mineralised drilling intersections achieved include: 10 metres at 20.82 grams per tonne gold from 138 metres, including 3 metres 57.13 grams.

The company also hit 5 metres at 10.35 grams, and 8 metres at 5.96 grams.

"Singida is an important project in our portfolio that gives us the opportunity of a second producing gold asset,” said chief executive Eric Zurrin.

“These positive drilling results have the potential to enhance the current project economics at Singida as well as improve the prospects of expanding the project beyond the current scope of construction."

 

View full SHG profile View Profile

Shanta Gold Limited Timeline

Related Articles

1527068084_shutterstock_102742847.jpg
May 23 2018
Chaarat's bold bid for the Kumtor mine is the first of many potential deals
gold
September 07 2018
Consolidation is ahead for junior miners due to the pressure on costs, says new CEO Tim Livesey
1533317104_renaiisance-mastre-landscape.jpg
August 03 2018
The company has an extensive portfolio of exploration projects in Nevada and Utah

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use