Shanta Gold Limited (AIM:SHG, OTC:SAAGF) has upgraded the mineral resource estimate for its West Kenya project with a 91% increase in the more certain indicated resource to 722,000 ounces (oz) at a grade of 11.45 grammes per tonne (g/t).
Eric Zurrin, chief executive of the East African gold producer, said the upgrade follows last year’s drilling programme at Isulu/Bushiangala, which generated some of the project’s best drilling results.
In total, Isulu and Bushiangala have 1.29mln oz with 56% in the indicated category against 34% in March, while West Kenya overall contains 1.72mln oz including all inferred resources.
Shanta added that there is also just over 100,000oz of oxide ore at the Bushiangala and Isulu prospects grading 10.44g/t that will provide cash flow during the mine construction ramp phase.
Zurrin added: “The West Kenya project continues to deliver material growth and quality results.
"Not only was there a significant conversion of the deposit into Indicated ounces, but these ounces yet again demonstrated high grades, averaging 11.45g/t Au."