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Shanta Gold is sitting on district-scale gold potential at West Kenya

Shanta already has a track record of successful gold production in Tanzania

Shanta Gold Limited -

Shanta Gold Ltd (LON:SHG) has said its new West Kenya project could contain a number of large, high-grade deposits with district-scale gold potential.

The company’s Kenya ground is situated on the northernmost greenstone belt in the Lake Victoria Goldfield, the Archaean Busia-Kakamega (ABK) belt.

The licences on this belt “cover a greenstone gold district similar in size to the great Val d'Or District-Abitibi in Canada,” Shanta chief executive Eric Zurrin told investors in a statement.

“The area is relatively unexplored yet already hosts the Isulu deposit, believed to be the highest grading plus-one million-ounce deposit in Africa. We believe the Archaean Busia-Kakamega has the potential to host a number of large, high-grade deposits similar to the adjoining belt in Tanzania which hosts world-class deposits including AngloGold's Geita gold mine and Barrick's North Mara gold mine," he added.

Shanta has acquired seven licences covering the majority of the ABK, extending over 1,161 square kilometres.

Approximately 220,000 metres of historical exploration drilling has been completed across the project area, resulting in multiple discoveries, including one 1.2mln ounce resource grading 12.6 grams per tonne gold.

Quick facts: Shanta Gold Limited

Price: 18.75 GBX

AIM:SHG
Market: AIM
Market Cap: £159.11 m
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Mining Capital's Alastair Ford says Shanta Gold's (LON:SHG) been making a lot of interesting noise around its latest acquisition of the West Kenya project. ''What interests me most about this project is that within what could turn out to be a district play there could be several large gold mines...

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