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Shanta Gold Ltd.
Summary
| Project: | New Luika | |
|---|---|---|
| Deposit: | Bauhinia Creek | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 7/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-7-2019: Shanta Gold Ltd. announces a Resource Estimation report for its Bauhinia Creek deposit at the New Luika project. Mineral resource update at Bauhinia Creek. Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, i | |
| Resources: | (Resource, I+I): 2.90Mt @ 4.75g/t Au for 444Koz Au contained at Bauhinia Creek | |
| CP/QP: | [Resources]: Juma Kisunda, Paul W. 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 Goldfield. Eric Zurrin, Chief Executive Officer, commented: "Following the drilling of six holes costing the Company US$164,000, we have replaced all of the depletion expected from 2019 gold production. This highlights the exceptional nature of the BC orebody and the long-life potential of the high margin, New Luika Gold Mine. It is worth remembering that in 2012, New Luika Gold Mine's overall reserve based mine life was just 2.5 years and has grown incrementally since then despite production of approximately 80,000 ounces per year and limited exploration." | |
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