Tanzania East Africa Metals

Shanta Gold has announced the beginning of construction work together with updated Project Economics for the Singida Gold Mining Project in central Tanzania.

“The Singida project has very attractive economics for Shanta with considerable upside through potential conversion of mineral resources currently outside of the reserve-based mine plan,” says Shanta Gold CEO, Eric Zurrin.

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The project will increase Group production to over 110,000 oz per year while maintaining our attractive cost base.

Singida is hosted in a greenstone deposit lending itself well to upside exploration potential.

Future exploration will target the extension of reserves and will be funded by cash flow from production at Singida. Successful future exploration could justify an increase in the size of the plant to increase both throughput and production.

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“Singida will have a major positive impact on the Ikungi region. Shanta intends to roll out its well-regarded CSR program into the surrounding villages which will lead to improvements in livelihoods, water, health and education.”

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