For thousands of other reports visit RSC's Mineral Intellingence Map
Shanta Gold Ltd.
Summary
| Project: | New Luika | |
|---|---|---|
| Deposit: | Nkuluwisi | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 5/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 3-5-2017: Shanta Gold Ltd. announces a Resource Estimation report for its Nkuluwisi deposit at the New Luika project. Initial mineral resource estimate for Nkuluwisi deposit. Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and exp | |
| Resources: | (Resource, Total): 1.862Mt @ 2.867g/t Ag, 1.446g/t Au at project (1.0g/t cut-off) | |
| CP/QP: | [Resources]: Awie Pretorius (Not stated) | |
| ABSTRACT: | Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to provide an update from its ongoing exploration programme, within and surrounding, the New Luika Gold Mine ("NLGM" or "the Mine"), located in the Lupa Goldfields, southwest Tanzania. In March 2017, Shanta released encouraging drilling results from the Nkuluwisi Mineralised Target ("Nkuluwisi"), located approximately 12 kilometers ("km") northwest of the NLGM's central processing hub. Since March, the Company and its independent resource consultants have worked to produce a JORC Compliant Code (2012) maiden resource for Nkuluwisi., Toby Bradbury, Chief Executive Officer, commented: "The significant scale of Nkuluwisi opens the door to possible expansion options at our flagship New Luika Gold Mine to target lower grade orebodies which could increase production levels and add to mine life. The NLGM already has resources of 9.47 million tonnes at 2.24 g/t for 683,000 oz that sit outside the recently updated Revised Mine Plan and the Nkuluwisi maiden resource adds significantly to that. Further upside remains along strike at Nkuluwisi and also at a series of highly prospective and proximate targets in the Lupa Goldfield identified through our focused exploration program." Nkuluwisi's maiden resource forms part of the regionally prominent Nkuluwisi Shear Zone, a deformational feature with a known strike expression approaching 15 km. Nkuluwisi's mineralisation importantly remains open at depth and along strike. The near-surface expression of the Nkuluwisi mineralised zone commonly attains true thicknesses in excess of 30 meters, potentially lending itself to open pit exploitation.Within the Nkuluwisi mineralisation feature, there are two zones characterised by localised gold enrichment. These enriched zones could be subjected to pit optimisation studies. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report