Shanta Gold Ltd (LON:SHG) said drilling at the Bauhinia Creek East Area 1 target at the New Luika gold mine (NLGM) in Tanzania generated 39,786 ounces of indicated resources of gold grading 4.74 grammes a tonne (g/t).
A total of 38 holes were drilled in the second quarter.
Including the additional ounces announced on 19 April 2021, 116,247 ounces grading 6.47 g/t have been added to indicated resources at the mine in the first half of this year.
Drilling at BC East Area 1 is testing the continuity of mineralization below the Bauhinia Creek pit to the east of the Central Fault where there is surface evidence of vein systems/shear zones. Historically these have only been tested by limited and relatively shallow drill holes.
"These drilling results at the Bauhinia Creek East Area 1 further underline the resource potential at New Luika, with an additional 116,247 oz of gold being added to NLGM's Indicated Resources in the first half of this year,” said chief executive Eric Zurrin.
“We continue to see sustainable, long-term upside through our exploration programme across Tanzania and West Kenya and look forward to coming back to the market with a new five-year plan in the near-term.
“We remain committed to transforming Shanta into a mid-tier gold producer in Africa with a strong exploration and development pipeline to support sustainable, long-term growth."