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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."

 

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Shanta Gold Limited Timeline

Newswire
October 18 2018

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