6th Sep 2021 11:05
(Alliance News) - Shanta Gold Ltd on Monday said visible gold was identified at West Kenya Project in three intersections across 11 holes drilled.
The Guernsey-based gold miner made the discovery during 3,205 metres of high grade drilling in Phase 2, conducted in June and July.
The width of mineralisation is estimated around 60% to 70% of the intercept core length.
This is the second set of results recorded by Shanta from Phase 2, marking 45% of total planned infill drilling for 2021 and 17% of total planned infill drilling over three phases for West Kenya.
In the first set of results, it identified visible gold in two intersections across 13 holes drilled.
Shanta reported in August that its gold output decreased by 32% in the first-half of 2021, lowering to 28,842 ounces from 42,383 ounces year-on-year.
"We are delighted with our second set of results from Phase 2 drilling at West Kenya," said Chief Executive Eric Zurrin. "Whilst the intersections across the board have been very strong, we are particularly pleased with a new intersection of 3.9m at 63.80 grams per tonne."
Zurrin added that the company expects to release a resource update due to be released at the end of September.
Shanta Gold shares were up 5.5% at 14.50 pence in London on Monday morning trade.
By Josie O'Brien; [email protected]
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