Visible Gold Sighted In Two Intersetins
Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, has provided a positive exploration update for the West Kenya Project in Kenya.
Drilling intersected visible gold was identified in two intersections across 13 holes drilled. The true width of mineralisation is estimated at approximately 60-70% of the intercept core length.
A resource update, focused on approximately 10% of the total NI43-101 Inferred resource of 1.2 Moz between 0-200 metres in depth, is expected to be released by early September.
CEO, Eric Zurrin, said Shanta is on track to complete approximately 35-40% of total planned infill drilling at West Kenya by the end of 2021. 35% of total planned infill drilling for 2021 and 13% of total planned infill drilling over three phases has now been reported.
“Building on from the success of Phase 1 drilling at West Kenya, we are extremely encouraged by today’s reported intersections which are the first results from this second phase,” Mr Zurrin said.
“We believe this asset has the potential to be a high quality gold development project that could be transformational for Shanta and our shareholders as well as Kenya and its communities.
“We continue to be excited by the prospects of the project and remain on track to complete 35-40% of total planned drilling at West Kenya by the end of 2021 with visible gold identified already.
“We have strategically allocated capital to deliver growth through exploration that we believe will generate long-term sustainable returns for our shareholders. Our drilling results so far this year continue to underpin our confidence in this approach.”
Isulu and Bushiangala Drilling Campaign
The West Kenya Project covers 1,162 sq. km of the highly prospective and underexplored greenstone Archaean Busia-Kakamega Gold Belt in western Kenya. Ongoing drilling at the Isulu and Bushiangala deposits is aimed at upgrading ounces from the Project’s NI43-101 compliant Inferred Mineral Resource Estimate into the Indicated Resource category down to a depth of 600 metres across three drilling phases.
This infill drilling is aimed at verifying the extent and geometry of the known mineralised zones developed for the current resource model. Shanta is on track to complete approximately 35-40% of total planned drilling at West Kenya by the end of 2021. 35% of total planned drilling for 2021 and 13% of total planned drilling over three phases has now been reported. Two drill rigs are currently active at the Isulu and Bushiangala deposits in West Kenya, with a third rig mobilised and now expected in August.
Gold mineralisation at the Project is hosted by sheared pillowed to massive basalts, bounded between ultramafic volcanics and polymictic conglomerates on one side and carbonaceous mudstones and sandstones on the other side. The deposits occur within the Liranda Corridor area, a 12 km structural trend located on the eastern limb of a broad synclinal structure intruded in the centre by granitoids and diorites, termed the Kakamega Dome. Mineralisation is associated with quartz, quartz-carbonate veinlets within the mineralised shear zones ranging from 0.5 m to 10 m in true width. The mineralisation style is classified as orogenic, shear-zone-hosted quartz-carbonate vein subtype. The strike lengths of the steeply-dipping zones vary between 350 m and 650 m.
Phase 1 drilling at the Project, completed in June 2021, sought to infill two modelled zones at Isulu and three modelled zones at Bushiangala.
This drilling was carried out to generate an average spacing of 40m at Isulu and 30m at Bushiangala, up to a depth of 150-200m from surface, and targeted both oxides and sulphides within these zones.
Following the completion of Phase 1 drilling, an updated mineral resource estimate is expected to be completed and announced by early September.
Phase 2 of the ongoing diamond drilling campaign at the Project is seeking to infill nine modelled zones at Isulu and three modelled zones at Bushiangala.
This drilling phase amounts to 75,000m of planned drilling and is due to be completed in Q4 2022. Phase 2 drilling is expected to generate an average spacing of 40m at Isulu and 30m at Bushiangala, up to a depth of 450-500 m from surface.
For further information please visit: https://www.shantagold.com/
