Aim-listed Shanta Gold has expanded the mineral resources at the West Kenya project, in Kenya, to 1.72-million ounces of gold.
The company also increased the project's indicated resource by 91% to 722 000 oz, for gold grading 11.45 g/t.
CEO Eric Zurrin says the project continues to deliver material growth and quality results, with the latest mineral resource estimate demonstrating a substantial increase in indicated ounces and an overall resource increase.
He adds that the drilling results that have been delivered at the project over the past year have been some of the best ever delivered and point towards a high-margin cash flow possibility in future operations.
Another mineral resource update is due in February, once Shanta converts a large part of the Ramula deposit into indicated resources.
Shanta also operates two gold mines in Tanzania.