SHG.L Regulatory News (SHG)

6 Jun 2006 17:53

Shanta Gold Limited06 June 2006 6 June 2006 SHANTA GOLD ANNOUNCEMENT (the "Company" and "Shanta") Shanta Gold records further successes at Singida Further to the completion of the initial drilling programme at Shanta'swholly-owned Tanzanian Singida project, the company is pleased to announce theassay results from 61 reverse circulation (RC) boreholes. Shanta chief executive Richard Shead said today that Shanta had made goodprogress with its drilling programme at Singida, with almost 9000 metres of RCdrilling completed in the 2005 calendar year. "These latest encouraging resultsfrom our investigation into the downdip and along-strike continuity have addedfurther credibility to our first phase drill programme completed in April, theresults of which have previously notified to the market." Shanta is currently completing reconnaissance drilling at a fourth locationalong the strike projection which will considerably extend the strike. Thecompany is accelerating the exploration programme at Singida and a secondreverse circulation rig has recently commenced drilling and a diamond rig isexpected on site shortly". The Johannesburg based consultants Mineral Corporation have completed an initialsite visit to the project and are presently reviewing all exploration resultsand completing an independent assessment report. The detailed assay results from the three principal zones are provided in thetables below. Assays were completed on individual 1 metre samples by theworld-renowned SGS mineral testing facility in Mwanza, Tanzania, using 50g fireassay with atomic absorption finish. Duplicates, blanks and standards were usedthroughout the sampling program to ensure quality assurance. An internal qualitycontrol process is ongoing. Borehole From (m) Intersection (m) Au (g/t) IncludingSC64 41 10 7.70 1 Metre @ 42.05 g/tSC65 51 11 3.58 2 Metres @ 13.95 g/tSC66 49 11 4.22SC67 58 5 5.87SC68 58 3 0.88SC69 86 7 1.93SC70 53 10 8.49 1 Metre @ 29.95 g/t & 2 Metres @ 13.02 g/tSC71 76 10 4.14 2 Metres @ 10.43 g/tSC72 98 4 4.87 1 Metre @ 13.90 g/tSC73 118 2 7.91 1 Metre @ 10.08 g/tSC74 46 8 6.73 2 Metres @ 17.95 g/t Borehole From (m) Intersection (m) Au (g/t) Including SC75 70 7 8.31 1 Metre @ 18.95 g/tSC75 82 1 6.57SC76 93 7 12.74 1 Metre @ 27.10 g/tSC77 112 8 6.18SC78 44 1 7.90SC78 52 1 2.30SC79 69 3 1.08SC80 91 4 1.86SC81 100 7 1.11SC82 81 1 5.59SC82 100 2 3.77SC83 99 3 5.26SC84 40 14 9.40 2 Metres @ 31.52 g/t & 1 Metre @ 25.65 g/tSC85 30 12 8.21 1 Metre @ 38.90 g/tSC86 20 11 12.77 1 Metre @ 20.65 g/tSC87 7 15 6.87 1 Metre @ 61.55 g/tSC88 30 7 6.84SC89 20 12 8.87 3 Metres @ 21.34 g/tSC90 9 15 9.22 2 Metres @ 46.15 g/tSC91 49 7 3.66SC92 76 4 1.55SC93 86 1 5.99SC107 59 13 4.33SC108 63 3 20.20 1 Metre @ 40.55 g/tSC109 57 3 2.27SC110 53 2 145.36 1 Metre @ 280 g/tSC57 34 5 0.77SC58 46 2 1.48SC59 28 8 3.03SC60 38 3 1.43SC61 28 1 2.52SC62 27 2 2.07SC62 41 5 2.12SC63 38 2 1.72SC112 75 5 21.09 2 Metres @ 49.47 g/tSC114 73 2 8.65 1 Metre @ 16.70 g/tSC115 54 7 21.19 3 Metres @ 46.36 g/tSC116 41 2 10.14SC117 61 3 3.26SC95 75 1 9.74SC96 30 12 3.10SC97 52 14 2.68SC98 67 10 3.07SC100 10 2 1.81 Borehole From (m) Intersection (m) Au (g/t) IncludingSC102 70 3 3.29SC103 14 4 0.95SC104 50 2 3.12SC104 64 2 2.29 Logging and sampling of the drilling programme was directly supervised by ChrisPicken. Mr Picken holds a BSc (Hons) degree in geology from the University ofManchester and has 18 years' international experience in greenstone goldexploration. For further detail on Shanta's drilling programme at Singida please refer to theShanta Gold website at www.shantagold.com For further information please contact: Shanta GoldR. B Shead Walton Imrie ChairmanMobile: +27 82 654 1821 Mobile: +27 82 444 2851Chris PickenChief Operating OfficerMobile: +27 82 372 1188 / +25 574 878 6926 Distributed by:Russell & AssociatesJohannesburgMarion Brower/Charmane RussellTel: +27 11 880 3924 This information is provided by RNS The company news service from the London Stock Exchange