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Shanta Gold reports 'encouraging' drilling results at New Luika play in Tanzania
StockMarketWire.com
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Gold miner Shanta Gold reported 'encouraging' exploration drilling results for its New Luika mine in Tanzania.
Nine diamond core holes had been drilled at the Luika deposit, with further drilling ongoing, while 28 reverse circulation holes were drilled at the Porcupine South target.
Highlights included intersecting 3.58 metres grading 14.71 grams per ton of gold.
'These encouraging results are the latest demonstration by the company that depleted ounces can be replaced with low-cost exploration,' chief executive Eric Zurrin said.
'Porcupine South is a newly discovered orebody, taking the known deposits at New Luka to 12, each of which has the potential to increase in size.'
'An anticipated net increase in JORC reserves is expected to be announced in early 2021.'
At 9:05am: (LON:SHG) Shanta Gold Ltd share price was 0p at 15.75p
Story provided by StockMarketWire.com
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