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Shanta Gold boosts resource base at Singida

The project remains open at depth and along strike, with two new zones now under investigation
Shanta Gold boosts resource base at Singida
Work on two new zones is ongoing, so there could be further updates to come

Shanta Gold Ltd (LON:SHG) has significantly boosted the resource base at the Singida gold project in central Tanzania.

Recent drilling hit highlights of 10 metres grading 20.82 grams per tonne gold and five metres at 10.35 grams per tonne.

READ: Shanta Gold tipped for big profit hike as underground operations hit stride

All told the latest round of work has allowed Shanta to boost the measured resource by 56% and the total measured and indicated resource by 12%, with the total now standing at 381,000 ounces grading 2.08 grams per tonne.

The overall resource now stands at 725,000 ounces of gold grading 1.84 grams.

The mineralisation remains open at depth and along strike with numerous parallel structures identified.

Ground geophysical work is now to commence early in the third quarter to test the potential of the two kilometre strike between the Cornpatch and Cornpatch West targets.

Meanwhile, construction of a high voltage power line by Tanzania's Rural Energy Agency (REA) has commenced.

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Shanta Gold Limited Timeline

Newswire
October 18 2018

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