Announcement Date: 2021-11-22
Announcement Type: Drilling Results
Announcement Code: (no Code)
Company name: Shanta Gold Ltd.
Project name: New Luika
Location: Tanzania
Commodities: Gold
Highlight: Drilling results incl. 10.56m @ 22.67g/t Au from 98.0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to provide an exploration drilling update at the New Luika Gold Mine (“NLGM”) in South Western Tanzania, relating to drilling conducted in Q3 2021. All of the these encouraging drilling intersections are outside existing mineral reserves and will be incorporated into the next update of the mine plan as Shanta Gold continues to extend the mine life at NLGM. The Bauhinia Creek deposit is located within a moderately steep (±55°), NW-dipping shear zone, which is silicified and mineralised by an auriferous quartz (± carbonate) vein system. BC is currently in production by way of underground mining. Single mineralised, economic veins trend parallel to the shear zone geometry, but pinch or taper out towards the ENE, abruptly terminating against the Nose Fault to the WSW. Two exploration diamond drill holes representing 343 metres were completed in the BC Main exploration targeting to test the continuity of the BC plunging shoot between levels 540 mRL and 500 mRL. The holes were drilled from underground development and inclined at between minus 26 and 36 degrees and averaged 185.32 metres in depth with a maximum of 213 metres down the hole.
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