Shanta Gold strikes rich vein as mining prospects brighten
Artisanal miners prospect for gold in Rosterman in Kakamega County. Shanta Gold Limited, the firm prospecting for the valuable mineral in the Western region, has reported finding an additional 1.5 million ounces of high-grade gold at Ramula Camp within the Lirhanda Corridor.
Shanta Gold Limited, the firm prospecting for the valuable mineral in the Western region, has reported finding an additional 1.5 million ounces of high-grade gold at Ramula Camp within the Lirhanda Corridor, which stretches from Kakamega County to neighbouring Siaya.
The firm has been in the region since taking over from Barrick Gold Limited in 2019.
The latest revelation contained in the firm’s update for the third quarter of 2022 is raising hope of mining operations finally kicking off in the region.
The firm’s initial projections had estimated gold deposits at 1.2 million ounces valued at Sh164 billion following findings that were made at Isulu and Bushangala camps in Kakamega County.
The new finding at Ramula Camp now places the deposits at over two million ounces as the journey to establish a mine is intensified.
Shanta Gold CEO Eric Zurrin said in the third quarter report for 2022 that drilling points to the potential of setting up high-grade gold mines in the region.
“I am delighted to announce further exciting news from [Western]. Drill results confirm our long-held belief that the project has the potential to become one of Africa’s next quality, high-grade gold mines,” said Mr Zurrin.
Three new targets
He said the exploration team has encountered excellent intersections from three new targets at the Ramula Camp.
He noted that, in time, the findings may see the resource potentially increase from the original maiden inferred resource of 434koz grading 2.08 g/t to at least another 1.5 million ounces. Mr Zurrin said the firm is now focused will on updating the market on the Ramula mineral resource in the New Year, 2023. Ramula Camp covers three new targets — Anomaly 22, the Miruka system and the Ochiegue system.
Shanta Group Head of Exploration Yuri Dobrotin said the three targets are situated within a five-kilometre radius of the Ramula deposit.
“We are confident that these proximal targets will be advanced by additional drilling and that the growth potential is only starting to be realised,” said Mr Dobrotin. The firm said visible gold was identified in five intersections across six holes that were drilled.
This brings the total number of intersections reached to 36 across 19 holes that have been drilled since the final quarter of 2021.
