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Shanta Gold Ltd.
Summary
| Project: | New Luika | |
|---|---|---|
| Deposit: | Bauhinia Creek | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 10/11/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-10-2018: Shanta Gold Ltd. announces a Resource Estimation report for its Bauhinia Creek deposit at the New Luika project. Updated mineral resource estimate at Bauhinia Creek. Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and | |
| Resources: | (Resource): 1.8Mt @ 5.1g/t Au (Ind.), 1.0Mt @ 3.0g/t Au (Inf.) | |
| CP/QP: | [Resources]: Paul Mbuya (Internal) | |
| ABSTRACT: | Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to provide an exploration update at the New Luika Gold Mine ("NLGM") in South Western Tanzania and the Company's licences in the surrounding Lupa Goldfields. Eric Zurrin, Chief Executive Officer, commented:"Shanta's preliminary exploration activities at BC East has allowed us to quickly replace the Company's mined reserves over the past quarter, at a compelling conversion cost of US$8/oz. Once the Inferred resources have been converted to Indicated resources across the portfolio, we look forward to exploring for potentially transformational downdip extensions across all three underground orebodies (Bauhinia Creek, Ilunga and Luika), the development of which is not capital intensive for the Company.""Separately, we are encouraged by the strong results from our regional exploration programme, including Lambo which is located close to our existing plant and Quartzberg. I look forward to receiving the next phase of results from these programmes and updating the market in due course." | |
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