Shanta Gold, East Africa-focused gold producer, developer and explorer, has announced a new resource estimate for the Ramula target at the West Kenya Project.
The firm says it has found more high-grade gold estimated at 1.6 million ounces at the project, estimated to be worth KSh365 billion.
We are delighted with the transformative drilling results announced at the Ramula target, adding 434k oz grading to 2.08 g/t and increasing total resources at our West Kenya Project by a significant 37% to 1.6 million oz, further strengthening our view that the region is a major new gold district and an area of massive future growth for the Company.
Eric Zurrin, Chief Executive Officer at Shanta Gold
Although the firm hopes to actualise large scale gold mining, it has not provided timelines.
Shanta Gold is an East Africa-focused responsible gold producer, developer and explorer. It has defined ore resources on the New Luika and Singida projects in Tanzania, with reserves of 666 koz grading 3.0 g/t, and exploration licences covering approximately 1,100 km2 in the country. Alongside New Luika and Singida, Shanta also owns the high-grade West Kenya Project in Kenya and licences covering approximately 1,162 km2
Shanta is quoted on London’s AIM market (AIM: SHG) and has approximately 1,048 million shares in issue.
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