Announcement Date: 2022-11-02
Announcement Type: Drilling Results
Announcement Code: (other Code)
Company name: Shanta Gold Ltd.
Project name: New Luika
Location: Tanzania
Commodities: Gold
Highlight: Drilling results incl. 9m at 17.33g/t Au from 9m
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 Southwestern Tanzania, relating to drilling conducted in H2 2022. These encouraging drilling intersections will be incorporated into the next update of the mine plan as Shanta Gold continues to extend the mine life at NLGM. Website link to the slides covering today’s announcement The BC North target is located about 1.6 km to the north of the NLGM Processing Plant. The target was initially inferred from structural study, which delineated a WSW – ENE striking shear zone, with a similar orientation/geometry and strike extent as that of the BC and Luika deposits, and inferably represent a displaced offset of the Luika orebody by the late displacement fault. Surface soil geochemistry
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