Shanta reports higher resource at Luika underground deposit
The indicated resource at the Luika underground deposit at Aim-listed Shanta Gold’s New Luika gold mine (NLGM), in south-western Tanzania, increased by 76 461 oz, grading 7.97 g/t gold.
The total Joint Ore Reserves Committee-compliant resources at the Luika deposit increased by 23% to 425 341 oz and the overall resource grade increased by 14% to 3.47 g/t.
This follows the drilling of 3 590 m at NLGM and the West Kenya project, in Kenya, in February and March.
Shanta stated in an April 19 release that there is an opportunity for further drilling to add more high-grade ounces along the western side of the Luika deposit which remains open at depth and along strike and that there is likely to be a further increase to the mineable reserve grade, which would positively impact future yearly production.
“We have achieved a notable increase to the indicated resources at Luika and these new ounces are considered to be at a suitable level of confidence to be added to the mine plan.
“We will be working to expand on this further over the course of 2021 – with a view to positively impacting future annual production – but these results so early in the drilling plan for the year are encouraging,” said CEO Eric Zurrin.
Meanwhile, Shanta said it was on track to complete about 40% of total planned drilling at the West Kenya project by the end of this year.
Zurrin said the results, so far, have been strong, with some intersections demonstrating “remarkably” high grades.
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