Exploration Drilling and Resource Update
March 2021 and is new information since the Company s last exploration update released 16
th
Highlights:
· Indicated resources at Luika underground deposit ( Luika ) increase by 76,461 ounces ( oz ) grading 7.97 g/t (before Q1 2021 depletion);
o These additional ounces are considered to be at a suitable level of confidence to be incorporated into the mine plan and an update will be provided in due course;
· Total JORC resources at Luika deposit increase by 23% to 425,341 oz and overall resource grade increases by 14% to 3.47 g/t (compared with
Dec 31
st 2020);
· Opportunity for further drilling to add more high grade ounces along the western side of the Luika deposit which remains open at depth and along strike;
Shanta Gold Limited (AIM:SHG) | RNS | Shanta Gold Limited - Exploration Drilling and Resource Update
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Shanta Gold Limited (AIM:SHG) | RNS | Shanta Gold Limited - Exploration Drilling Update
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Gold production during the period was 20,622 oz. Overall, a total of 155,859 t of ore grading 4.5 g/t was mined from underground in Q4 compared with 156,391 t of ore grading 4.5 g/t in Q3. A further 44,691 t ore grading 1.4 g/t was mined from open pits in Q4 compared with 38,792 t of ore grading 2.16 g/t in Q3. 181,425 t of ore was milled during the period (Q3: 181,036 t). The ROM stockpile at the end of Q4 was 154,577 t of ore grading 1.31 g/t (up from 120,511 t grading 1.45 g/t at the end of Q3). Average recoveries of 90.4% were achieved in the plant during the period (Q3: 89.4%). Installation and commissioning of a 2 tonne per day Oxygen Plant at NLGM was completed in the Period and is expected to improve future recoveries.