Shanta Gold finds the precious metal in seven different intersections
Shanta Gold (AIM:SHG), the East Africa-focused gold producer, provided an exploration update for its West Kenya Project on Tuesday.
The report outlined seven different intersections as part of an 11-hole drilling programme in the West Kenya Project.
The AIM-listed company said that its update was regarding 2,489m of drilling across the 11 holes which took place over March and April 2021 at the Isulu deposit.
A resource update for West Kenya, focused on approximately 10% of the total NI43-101 inferred resource of 1.2 Moz, between 0-200 metres in depth, is expected in Q3 following completion of Phase 1 drilling at the end of June 2021.
Shanta said it was on course to complete around 40% of total planned drilling at the project by the end of 2021.
Eric Zurrin, Chief Executive Officer, commented:
“The intersection of 219.5 g/t over 6 metres in hole 237 has a grade x width of over 1,300 g/t Au, the highest to date on this metric at the West Kenya Project. These new intercepts verify the current model and can be linked with other high-grade intercepts nearby, indicating that exceptionally high-grade shoots should be present not only below the 400 m depth, as previously thought, but also at the higher levels of the deposit.”
“Current drilling has also discovered an up-dip extension of the additional parallel zone, which was previously modelled only at deeper levels. Results so far have been strong with some intersections demonstrating remarkably high grades and we look forward to updating the market on ongoing performance in due course.”
“We will soon be transitioning into Phase 2 drilling as well as expanding our exploration drilling to regional high priority targets across our portfolio of 1,162 km2 licences at West Kenya.”
The Shanta Gold share price is up by 6.65% to 16p early on Tuesday morning.