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Shanta drilling bodes well for New Luika extension

Promising drilling results at new targets within Shanta Gold’s existing mining licences at the New Luika Gold Mine (NLGM) in Tanzania could soon see the company declare new resources.
Shanta drilling bodes well for New Luika extension Shanta drilling bodes well for New Luika extension Shanta drilling bodes well for New Luika extension Shanta drilling bodes well for New Luika extension Shanta drilling bodes well for New Luika extension

Underground mining at Shanta Gold's New Luika mine in Tanzania

Staff reporter

Highlights from drilling at the Bauhinia Creek North target, which lies 3km to the west of Shanta's processing plant, were 8.38g/t over 4m from 86m, including 1m at 23.10g/t; 8.62g/t over 6m from 93m, including 1m at 25.50g/t; and 8.94g/t over 4m from 111m including 1m at 27.50g/t.

Highlights from the Elizabeth Hill North target, about 4km east of the plant, were 9m at 6.62g/t from 80m including 4m at 11.00g/t; 9m at 5.56g/t from 62m including 2m at 15.50g/t; and 8m at 3.29g/t from 53m.

"With mine life extension at New Luika a continuing priority for Shanta, it is exciting to see these latest results from our focused drilling programmes," said Shanta's CEO Eric Zurrin.

"We would expect that these results and the next round of drilling will provide sufficient information for us to declare new resources at these targets in the near future and contribute as another source of ore to feed the NLGM plant," Zurrin continued.

Shanta said the results of this campaign and a second, to be carried out in Q4, will be analysed and the company will provide an update on mineral resource estimate and mine life extension "in the next few months".