Aim-listed Shanta Gold says drilling of deposits at the Elizabeth Hill and BC North targets at the New Luika mine, in Tanzania, has demonstrated encouraging results.
The company also continues with drilling at the Luika Deep underground deposit to identify down-plunge continuity of mineralisation and the extension of the mine life.
Shanta has been drilling at New Luika from July last year, in efforts to convert inferred resources to the indicated category at various deposits, as well as to test a maiden target at the Jamhuri West deposit close to the New Luika processing plant.
The company has completed 13 325 m of drilling from 106 holes so far at New Luika.
Some of the latest intersections from the Elizabeth Hill, Jamhuri West and BC North targets include 11.6 m of gold grading 39.05 g/t from 203 m, 8 m of gold grading 6.53 g/t from 40 m and 15 m of gold grading 7.49 g/t from 16.1 m.
The Elizabeth Hill target is currently in production through openpit mining and contains a total resource of 222 000 oz grading 1.84 g/t gold as of December 2022.