6th Jul 2016 08:50
LONDON (Alliance News) - Shanta Gold Ltd on Wednesday said it has completed a second phase drilling programme at the Ilunga deposit at the New Luika mine in Tanzania.
The phase 2 programme included 20 drill holes in total, all of which intersected mineralised zones confirming the continuity of the Ilunga area along strike and at depth.
The intersections included gold grades of up to 18.62 grams per tonne.
"Our exploration team has a good handle on mineralisation and structure, enabling efficient exploration to take place. Today's results from Ilunga confirm good tenor and thicknesses and we are looking forward to producing an updated resource estimate," said Chief Executive Toby Bradbury.
Shanta shares were up 5.0% to 7.74 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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