Shanta Gold, the East Africa-focused gold producer, developer and explorer, has announced a maiden resource estimate for the Ramula target at the West Kenya Project.
The discovery entails 45,359 kilograms (1.6 million ounces) of gold in Kakamega, Ramula region, worth Ksh331 billion.
“We are delighted with the transformative drilling results announced at the Ramula target, adding 434k oz grading to 2.08 g/t and increasing total resources at our West Kenya Project by a significant 37% to 1.6 million oz, further strengthening our view that the region is a major new gold district and an area of massive future growth for the Company,” said Eric Zurrin, Shanta Gold Chief Executive Officer.
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This maiden resource estimate follows the successful completion of the Company’s 2021 drilling programme at West Kenya and the Company expects to announce further updates in relation to Isulu-Bushiangala and Bumbo in the coming weeks.
“I visited the site with fellow Shanta Board members in March 2022 and witnessed the outstanding potential of the Ramula Region. Situated in close proximity to the Liranda Region which holds the Isulu-Bushiangala resource, we are confident that in time, we will be able to expand Ramula into the second significant resource region in the wider West Kenyan Project,” he added.
“In the near-term, we are looking forward to updating shareholders on the updated mineral resource estimate at Isulu-Bushiangala as well as the re-estimated historical maiden resource at the Bumbo polymetallic target. The West Kenya Project continues to produce exciting results the more we look, and we are confident that it has the potential to be a multi-million ounce gold district comparable with other prolific greenstone belts in the world.”
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A total of 19 mineralised sub-horizontal zones at Ramula modelled to 240 metres depth were discovered. Several of the 19 zones include high grade inferred resources currently summing to 107,684 ounces grading 6.43 g/t using a cut-off grade of 3.0 g/t.
A total of 10 holes were drilled at Ramula which target covering 2,243 metres completed in 2021 costing US$0.36 million(Ksh41 million) in addition 12 holes drilled by previous owners.
Ramula Region currently holds seven high priority targets including Ramula, Miruka, Anomaly 22, Ramba-Lumba, Aila, Masumbi, and the former colonial mine Kiboko, all within 1-20 km of Ramula target.
Miruka and Anomaly 22, located within a 5 km radius from Ramula target are high priority exploration areas.
Shanta’s first hole drilled at Anomaly 22 confirmed a gold mineralised system, hosted in mineralised porphyry and diorite at the contact with the mafic volcanic rocks with continuous gold mineralisation extending 242 metres from surface.
The known strong gold-in-soil anomaly at Anomaly 22 extends across 1.5 km on surface.
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