Shanta reports fruitful Phase 2 drill results
Aim-listed Shanta Gold has identified visible gold in two intersections across 13 holes drilled in May and June, at the Isulu and Bushiangala deposits, as part of the West Kenya project, in Kenya.
The company says the true width of mineralisation is estimated at about 60% to 70% of the intercept core length.
Shanta has conducted 3 369 m of drilling during Phase 2 of the project’s drill programme, the results of which included 1 m grading 13.9 g/t gold from 164 m, 3.6 m grading 6 g/t from 214 m and 3 m grading 4.3 g/t from 136 m.
The company expects to publish a resource update early in September and is on track to complete about 35% of total planned infill drilling at West Kenya by the end of the year.
“We have strategically allocated capital to deliver growth through exploration that we believe will generate long-term sustainable returns for our shareholders. Our drilling results so far this year continue to underpin our confidence in this approach,” notes CEO Eric Zurrin.
The drill programme aims to upgrade ounces from the inferred resource to indicated resource category, down to a depth of 600 m across three drilling phases.
