Shanta Gold has unveiled an upgraded JORC Code compliant (2012) resource estimate at the Ilunga satellite deposit at the New Luika Gold Mine (NLGM) located in the Lupa Goldfields, southwest Tanzania.
Ilunga is located 2.5km northeast of the NLGM central processing facility with access already developed as part of the current open pit mining operation.
- Significant increase in resource and gold grade at Ilunga;
- Indicated Resources increase 409% from 40,352 ounces gold ("oz Au") to 205,347 oz Au;
- Indicated Resource tonnage increases 336% from 311,355 tonnes to 1,356,054 tonnes;
- Indicated Resource gold grade rises 17% from 4.03 grams per tonne ("g/t") Au to 4.71 g/t Au; and
- Total Ilunga resources (Indicated and Inferred categories) upgraded from 73,940 oz at 3.51 g/t to 257,965 oz at 4.55 g/t.