Shanta Gold Ltd - east Africa-focused gold producer, developer and explorer - Confirmation of new potential at Ramula target and six proximal targets has led to a 37% increase in total resources at the West Kenya project to 1.6 million ounces.
Ramula target has inferred resource estimate of 433,900 ounces grading 2.08 grams per tonne.
"In the near-term, we are looking forward to updating shareholders on the updated mineral resource estimate at Isulu-Bushiangala as well as the re-estimated historical maiden resource at the Bumbo polymetallic target. The West Kenya Project continues to produce exciting results the more we look, and we are confident that it has the potential to be a multi-million ounce gold district comparable with other prolific greenstone belts in the world," says Chief Executive Officer Eric Zurrin.
Current stock price: 9.25 pence
12-month change: down 32%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Shanta Gold (SHG)