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Shanta Gold increases gold resources at New Luika Gold Mine in Tanzania

The results further underline the resource potential at New Luika. (Image source: Khusen Rustamov/Pixabay)

Drilling at Bauhinia Creek East Area 1 target at New Luika Gold Mine (NLGM) in South Western Tanzania has generated 39,786 ounces (oz) of Indicated resources of gold grading 4.74 g/t at a cut-off grade of 1.0 g/t Au, according to Shanta Gold’s exploration update relating to drilling conducted in Q2 2021

The East Africa-focused gold producer, developer and explorer has further stated in aggregate with the additional ounces announced on 19 April 2021, 116,247 oz have been added to Indicated Resources at NLGM in H1 2021 grading 6.47 g/t, at a cut-off grade of 1.0 g/t Au (before H1 2021 depletion).

Eric Zurrin, CEO at Shanta Gold, commented, “These drilling results at the Bauhinia Creek East Area 1 further underline the resource potential at New Luika, with an additional 116,247 oz of gold being added to NLGM’s Indicated Resources in the first half of this year.”

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