Modern Mining June 2018

MINING News

Shanta Gold updates Singida resource and 5 m at 10,35 g/t gold from 120 m in hole SC713.

including geology, mine planning and process design. Project capital funding is being targeted from external third parties at the Singida asset level. “The objective of the modest 1 600 metre RC drilling programme in Q1 2018, which targeted two of the seven key tar- gets at Singida, was to upgrade resources from the inferred to the measured and indicated (M&I) categories,” comments Eric Zurrin, CEO of Shanta. “This objective has been achieved – M&I resources have now increased to nearly 400 000 oz of gold at 2,08 g/t. A geophysics programme is planned for Q3 to test upside at the Cornpatch and Cornpatch West targets as we target ongoing expansion and upgrad- ing of the resource.” 

AIM-listed Shanta Gold has announced an updated JORC-compliant mineral resource estimate (MRE) and project update on its Singida gold mining project in Central Tanzania. Highlights are a 56 % increase in mea- sured resources and a 12 % increase in measured and indicated resources, total- ling 381 koz of gold at 2,08 g/t. Only two of the seven targets within the project’s mining licences were tested in the recent drilling campaign. As previously announced in April 2018, drilling intersections included 10 m at 20,82 g/t gold from 138 m in hole SC702, including 3 m at 57,13 g/t gold from 138 m,

The project will be connected to the central government power grid, which is anticipated to pass within 500 m of the proposed location of the project site. Construction of the power supply line is expected to be completed by the end of 2018, funded by the government and an external donor. In March 2018, Shanta established an internal Owner’s Team to advance desktop work for the project using existing internal resources, at no additional cost to Shanta. A number of workstreams are ongoing by the Owner’s Team across all disciplines

The camp at the Singida project in central Tanzania (photo: Shanta Gold).

14  MODERN MINING  June 2018