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Shanta Gold Ltd.
Summary
| Project: | Singida | |
|---|---|---|
| Deposit: | Singida | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 10/3/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-10-2016: Shanta Gold Ltd. announces an Exploration/Drilling Update report for its Singida deposit at the Singida project. Drilling results incl. 12m @ 9.24g/t Au from 130m. Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and exp | |
| Resources: | (Resource): 432000oz Au (Meas.), 118000oz Au (Ind.), 309000oz Au (Inf.) | |
| CP/QP: | [Overall Report]: Awie Pretorius (Not stated) | |
| ABSTRACT: | Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to announce high grade intercepts at its Singida project ("Singida") located in northern central Tanzania. Singida is an advanced stage project with a mining licence in place and is expected to become an important contributor to Shanta’s growth. As previously announced, Shanta is conducting a new exploration programme concurrent with a pilot plant project which will improve the Company’s understanding of Singida’s high grade orebody in advance of a full scale development plan. The pilot project is making progress and has been rescheduled to start in Q2 2017 targeting the Gold Tree 1 ore body while the Company prioritises expanding the resource through further exploration. In 2009, a resource estimate at Singida identified 432,000oz of Measured Resources at a grade of 4.1g/t Au, 118,000oz of Indicated Resources at 2.0g/t Au and 309,000oz of Inferred Resources at 2.3g/t Au. The majority of the Measured Resources relate to a shear structure at the Gold Tree 1 ore body (“GT1”), one of nine identified ore bodies and begins at surface. | |
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