- Resources of 1.29 million oz grading 10.60 g/t Au at Isulu and Bushiangala, of which 56% have been upgraded to indicated category up from 34% in March 2022.
- 91% increase in indicated oz to 721 900 grading 11.45 g/t Au.
- Current oxides for Bushiangala and Isulu in the indicated category contain 100 600 oz grading 10.44 g/t Au, providing potential high margin cash flow during future construction ramp-up.
- Mineral resource estimate update, including the conversion of the significant part of the Ramula deposit into indicated category, is expected in February.
Eric Zurrin, Chief Executive Officer, commented:
“The West Kenya project continues to deliver material growth and quality results, with the latest mineral resource estimate demonstrating a substantial 91% increase in the indicated ounces category and an overall increase to 1.72 million oz. Not only was there a significant conversion of the deposit into indicated ounces, but these ounces yet again demonstrated high-grades, averaging 11.45 g/t Au.
The drilling results that have been delivered at the West Kenya project over the past year have been some of the best we have ever delivered, and it is clear to the team here at Shanta that we possess a potentially very high quality high-grade African gold mine. The high-grade Indicated category from today’s results points towards a high margin cash flow during future operations. As we diversify our portfolio in Tanzania with Singida’s first gold pour in March 2023, West Kenya demonstrates the group’s clear growth potential to shareholders. With a further updated mineral resource estimate due in February, which will include the conversion of a significant part of the Ramula deposit, there is plenty of positive news to come.”
Read the article online at: https://www.globalminingreview.com/mining/27012023/shanta-gold-provides-updated-mre-for-its-west-kenya-project/
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