StockMarketWire.com - Shanta Gold has provided an update from its ongoing exploration programme, within and surrounding, the New Luika Gold Mine (NLGM), located in the Lupa Goldfields, southwest Tanzania.
In March 2017, Shanta released encouraging drilling results from the Nkuluwisi Mineralised Target, about 12km northwest of the NLGM's central processing hub.
Since March, the company and its independent resource consultants had worked to produce a JORC Compliant Code (2012) maiden resource for Nkuluwisi, as detailed below.
HIGHLIGHTS (at a 0.5g/t cut-off):
- Total Resources of 3,973,000 tonnes ("t") at 1.1 grames per tonne ("g/t") for a total of 140,894 ounces ("oz") of gold achieved;
- Measured Resources of 224,000 t at 1.29 g/t for a total of 9,266 oz of gold achieved;
- Indicated Resources of 2,311,000 t at 1.13 g/t for a total of 83,888 oz of gold achieved; and
- Inferred Resources of 1,438,000 t at 1.03 g/t for a total of 47,761 oz of gold achieved.
Story provided by StockMarketWire.com
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