- East Africa focused miner Shanta Gold said it had upgraded the measured and indicated resource estimate by 17% at its Singida project in Tanzania.

The company said the mineral resource at Singida was estimated at 11.8m tonnes, grading 2.38 grams per tonne and containing 904k ounces of gold, using a cut-off grade of 1.0 gram per tonne.

That estimate included a 17% increase in the measured and indicated resource, which totaled 5.7m tonnes, grading 2.66 grams per ton and containing 484k ounces.

Financing discussions for the development of Singida were advanced and an announcement would follow, as appropriate, Shanta Gold said.

At 9:41am: [LON:SHG] Shanta Gold Ltd share price was +0.25p at 12p

Story provided by