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Shanta Gold upgrades resource at New Luika after Bauhinia Creek East drilling

Shanta Gold Ltd. said Oct 11 that drilling at the Bauhinia Creek East mine at the New Luika gold project in Tanzania resulted in converting 27,240 ounces of gold into indicated resources.

The indicated resource stood at 291,600 ounces of gold contained in 1.77 million tonnes grading 5.14 g/t and the inferred resource stood at 99,540 ounces of gold contained in 1.02 million tonnes grading 3.04 g/t at a 1.0 g/t gold cutoff grade.

Total indicated and inferred resources stood unchanged at 391,150 ounces of gold contained in 2.78 million tonnes grading 4.37 g/t.

The London-listed miner completed the first phase of underground exploration drilling earlier this month at Bauhinia Creek West, targeting an area immediately west of the planned development limit and aiming to upgrade resources from inferred to indicated. The second phase of underground drilling will be conducted later this month.

Exploration drilling at Bauhinia Creek Central is scheduled to begin in the first half of 2019 to convert resources from inferred to indicated.