Modern Mining November 2021

production in early 2023

South Africa, the mill’s site civil works are scheduled to commence in December 2021, while site installa- tion is planned for May 2022. However, prior to commencing production, the company is aiming to finalise the contract awards for the remaining plant equipment, finalise tenders for processing plant equipment, obtain Mining Commission approval for contract awards and install slurry pumps and gensets to support TANESCO bulk power. “Reaching the production milestone in early 2023 will transform Shanta from a single asset pro- ducer to a 100 000 oz per annum producer with a diversified revenue stream across two operations, further de-risking our business and placing us in a strong position to maintain our sustainable dividend and fund the highly promising West Kenya asset,” says Zurrin. Shanta has an established operational track record, with defined ore resources on the New Luika and Singida projects in Tanzania, with reserves of 666 koz grading 3 g/t, and exploration licences covering approximately 1 100 km² in the country. Alongside New Luika and Singida, Shanta also owns the West Kenya Project in Kenya with defined high grade resources and licences covering approxi- mately 1 162 km². Grade control drilling Meanwhile, strong results from the grade control drill- ing programme have further increased confidence in

the strength of the production profile at Singida. “Our grade control drilling programme is a core driver of value for the project – it increases our confi- dence in the quality and grade of the ore. The results thus far have been highly encouraging, reaffirming the strength of the asset’s production profile, par- ticularly for the first 18 – 24 months of production,” says Zurrin. The grade control RC holes at Singida were drilled at an inclined angle of minus 53° with hole depth ranging from 10 m to a maximum of 46 m. Infill

Construction of major infrastructure is forging ahead.

Strong results from the grade control drilling programme further increase confidence in the strength of the production profile at Singida.

November 2021  MODERN MINING  15