Shanta Gold Ltd. announced a mineral resource update for its West Kenya gold project in Kenya on Tuesday, with total resources increasing by 31% to 1.55 million ounces.
Indicated resources more than quadrupled to 377,840 ounces, surpassing internal projections for 2021, according to the mining business. This is in addition to a 1.17 million ounce inferred resource.
‘The rise in the mineral resource estimate adds to the excitement around the West Kenya project, with our geologists convinced that up to 700,000 ounces of inferred resources may be converted to indicated in 2022,’ says the company. In addition, this year, other early-stage prospects will be investigated,’ stated Chief Executive Eric Zurrin.
Approximately 700,000 oz of additional inferred resources is expected to be converted to the indicated category this year.
The enhanced MRE, as well as the future possibility for conversion to the specified category, is welcomed by CEO Eric Zurrin.
‘Our West Kenya project is located in the Lake Victoria Goldfields’ high-potential and underexplored greenstone area, which already has world-class gold mines owned by Barrick Gold and AngloGold Ashanti.
‘We now have compliant resources at four different deposits – Isulu, Bushiangala, Ramula, and the reintroduction of the old Bumbo deposit – validating the West Kenya project’s extensive geological prospectivity,’ he says.
Future investigation of many more highly promising areas, according to Zurrin, might lead to a multimillion-ounce gold zone.
Shanta now has three drill rigs in operation, and feasibility study work will begin in May, according to him.
“Since the beginning of 2022, excellent visual intersections have been detected in drilling data, with several occurrences of visible gold.” The results of the assays from these holes are expected in April or May,’ he adds.
