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    SHG   GB00B0CGR828

SHANTA GOLD LIMITED

(SHG)
  Report
Delayed London Stock Exchange  -  11:35 2022-10-04 am EDT
9.350 GBX   +1.08%
09/05Transcript : Shanta Gold Limited, H1 2022 Earnings Call, Sep 05, 2022
CI
09/05Earnings Flash (SHG.L) SHANTA GOLD Posts H1 Loss $-0.003
MT
09/05Earnings Flash (SHG.L) SHANTA GOLD Reports H1 Revenue $51.9M
MT
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Shanta Gold Provides an Exploration Update for the West Kenya Project in Kenya

05/23/2022 | 02:00am EDT

Shanta Gold provided an exploration update for the West Kenya Project in Kenya. This infill drilling is aimed at verifying the extent and geometry of the known mineralised zones developed for the current resource model. Shanta has now completed 51% of total planned drilling at West Kenya as at the end of April 2022.

40% of total planned drilling over three phases has now been reported. Gold mineralisation at the Project is hosted by sheared pillowed to massive basalts, bounded between ultramafic volcanics and polymictic conglomerates on one side and carbonaceous mudstones and sandstones on the other side. The deposits occur within the Liranda Corridor area, a 12 km structural trend located on the eastern limb of a broad synclinal structure intruded in the centre by granitoids and diorites, termed the Kakamega Dome.

Mineralisation is associated with quartz, quartz-carbonate veinlets within the mineralised shear zones ranging from 0.5 m to 10 m in true width. The mineralisation style is classified as orogenic, shear-zone-hosted quartz-carbonate vein subtype. The strike lengths of the steeply-dipping zones vary between 350 m and 650 m. Phase 1 drilling at the Project, completed in June 2021, sought to infill two modelled zones at Isulu (IZ1.0 and IZ3.0) and three modelled zones at Bushiangala (BZ1, BZ2 and BZ3).

This drilling was carried out to generate an average spacing of 40 m at Isulu and 30 m at Bushiangala, up to a depth of 150-200 m from surface, and targeted both oxides and sulphides within these zones. Following the completion of Phase 1 drilling, an updated mineral resource estimate was announced in September 2021. Phase 2 of the ongoing diamond drilling campaign at the Project is seeking to infill 20 modelled zones at Isulu and 23 modelled zones at Bushiangala.

This drilling phase amounts to 75,000 m of planned drilling and is due to be completed in Fourth Quarter 2022. Phase 2 drilling is expected to generate an average spacing of 40 m at Isulu and 30 m at Bushiangala, up to a depth of 450-550 m from surface. Following the completion of 2021 drilling the Isulu and Bushiangala modelled zones were updated, and an updated mineral resource estimate was announced in March 2022.

Assay results shown below are those for 5 diamond drill holes, received since the Company's most recent exploration update in March 2022. To date this takes the total number of holes with assays returned to 107, for the current drilling campaign. The lengths shown are the down hole metres and it is estimated that the true widths of the mineralized zones are approximately 60-70% of the widths intersected in the drill holes.

All assays are reported without application of a top cut. Samples were analysed at an accredited laboratory operated by MSALABS, an independent third party.


© S&P Capital IQ 2022
All news about SHANTA GOLD LIMITED
09/05Transcript : Shanta Gold Limited, H1 2022 Earnings Call, Sep 05, 2022
CI
09/05Earnings Flash (SHG.L) SHANTA GOLD Posts H1 Loss $-0.003
MT
09/05Earnings Flash (SHG.L) SHANTA GOLD Reports H1 Revenue $51.9M
MT
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08/03Shanta Gold Limited Provides Exploration Update on West Kenya Project in Kenya
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More news
Financials (USD)
Sales 2022 132 M - -
Net income 2022 8,70 M - -
Net Debt 2022 16,4 M - -
P/E ratio 2022 13,1x
Yield 2022 2,21%
Capitalization 111 M 111 M -
EV / Sales 2022 0,96x
EV / Sales 2023 0,54x
Nbr of Employees 953
Free-Float 91,9%
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Number of Analysts 2
Last Close Price 0,10 $
Average target price 0,34 $
Spread / Average Target 227%
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Managers and Directors
Eric Zurrin Chief Executive Officer & Executive Director
Luke Alexander Leslie CFO, Head-Corporate Development & Director
Anthony Durrant Non-Executive Chairman
Michelle Anne Jenkins Independent Non-Executive Director
Ketankumar Vinubhai Patel Non-Executive Director
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