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Shanta Gold reports high grades from New Luika exploration programme

Four diamond holes were drilled at the Bauhinia Creek East underground mine
Gold core
Bumper grades in some sections at BC East

Shanta Gold Limited (LON:SHG) has hit reported grades from an exploration programme outside of the current reserves area at the New Luika gold mine in Tanzania.

Four diamond holes were drilled at the Bauhinia Creek East underground mine, where there has already been historical bonanza grade intercepts.

READ: Shanta meets US$7mln cost reduction target three months early

Assays ranged between 4.6 grammes per tonne over 7.5 metres to 39 g/t gold in one narrow section.

Drilling was carried out over a strike length of 80 metres to a depth of 180m.

Eric Zurrin, chief executive, said the results were further evidence of high-grade extension at New Luika's Bauhinia Creek deposit.

“The mineralization is easily accessible from our existing underground operations and will require minimal capital investment.

“Proving the high-grade extensions has been a priority for Shanta as we continue to focus on adding to our current mine life."

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Shanta Gold Limited Timeline

October 18 2018

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