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East Africa Projects  
16 March 2017

Shanta Gold announces encouraging mineralisation at New Luika target

AIM-listed Shanta Gold has intersected encouraging mineralisation which is open along strike and at depth at its New Luika gold mine.

Tanzania – The mineralisation is from a reverse circulation drilling programme at the Nkuluwisi mineralised target, located approximately 12 km north-west of New Luika’s central processing hub, located in the Lupa Goldfields, southwest Tanzania.

A total of 44 RC drill holes comprising 5 833 m of drilling have been completed at Nkuluwisi, identifying mineralisation down to vertical depths of approximately 120 m below surface.

Exploration to date has covered a strike length of about 900 m and significant portions of the regionally prominent Nkuluwisi Shear Zone remain untested and exploration work is on-going.

The drilling results are currently being modelled and will be submitted to Shanta Gold’s independent resource consultants for resource estimation purposes in the near future with a maiden resource for Nkuluwisi anticipated to be delivered in Q2, 2017.

Drilling highlights include:

  • 13 m @ 6.31 g/t gold from 60 m in hole SGR090, including 5 m @ 10.81 g/t
  • 19 m @ 3.58 g/t from 22 m in hole SGR178, including 10 m @ 5.3 g/t
  • 15 m @ 4.16 g/t gold 27 m in hole SGR185, including 3 m @ 10.48 g/t and 1m @ 10.8 g/t
  • 12 m @ 3.54 g/t gold from 54 m in hole SGR186
  • 10 m @ 3.13 g/t gold from 116 m in hole SGR098
  • 5 m @ 5.05 g/t gold from 24 m in hole SGR179
  • 4 m @ 5.47 g/t gold from 7 m in hole SGR088, including 1 m @ 13.7 g/t
  • 5 m @ 4.11 g/t gold from 30 m in hole SGR181
  • 9 m @ 2.05 g/t gold from 120 m in hole SGR099
  • 6 m @ 2.81 g/t gold from 56 m in hole SGR122, including 1 m @ 10.95 g/t
  • 4 m @ 4.21 g/t gold from 30 m in hole SGR182
  • 3 m @ 3.87 g/t gold from 38 m in hole SGR089

“The excellent exploration results from Nkuluwisi once again showcase the geological potential of the Lupa Goldfields,” says Shanta Gold CEO Toby Bradbury.

“Furthermore, after resource upgrades at Elizabeth Hill in 2015 and Ilunga in 2016, Shanta’s exploration team continues to demonstrate its ability to convert its knowledge and experience into value-creation through the drill bit.”

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