(Alliance News) - Shanta Gold Ltd said on Wednesday that the latest phase of drilling at its West Kenya project delivered the company's most consistently high-grade drilling programme.
Shares in Shanta Gold were up 8.0% at 8.80 pence on Wednesday morning in London.
The Guernsey, UK-based gold mining company focused in East Africa said the initial phase two 3,673 metre drilling was across 9 holes and intersected 150 grams of gold per tonne at 1.4 metres from 189.9 metres to 191.2 metres, and 184 grams of gold per tonne at 0.7 metres from 599.3 metres to 600 metres.
Shanta Gold continued that it had seen "highly encouraging" results at the Ramula target and the neighbouring Anomaly 22 target in drilling totalling 1,792 metres and 395 metres respectively.
The company said there were 23 separate occurrences of visible gold in 10 holes drilled at Ramula, 23.40 grams of gold per tonne at 4.8 metres from 48 metres to 52.8 metres.
Chief Executive Eric Zurrin said: "The latest phase of drilling at West Kenya has continued to deliver outstanding results, ensuring that this remains the most consistently high-grade drilling programme we've ever conducted at any asset in Shanta's history."
Shanta Gold says a consolidated resource update is expected to be released in the next few weeks.
By Heather Rydings; heatherrydings@alliancenews.com
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Shanta Gold (SHG)