Exploration firm Shanta Gold says it has hit more high grade gold at its Western Kenya project.
The yet to be quantified gold deposits were discovered after around 3,205 metres were drilled across 11 holes in June and July 2021 at the Isulu and Bushiangala deposits, said the East Africa-focused gold producer.
Visible gold was identified in three intersections across the 11 holes drilled, it said.
Exploration firm Shanta Gold says it has hit more high grade gold at its Western Kenya project.
The yet to be quantified gold deposits were discovered after around 3,205 metres were drilled across 11 holes in June and July 2021 at the Isulu and Bushiangala deposits, said the East Africa-focused gold producer.
Visible gold was identified in three intersections across the 11 holes drilled, it said.
A resource update is expected later this month. The firm said earlier the area has gold deposits estimated at 1.1 million ounces, with a current market value of Sh186 billion.
"We are delighted with our second set of results from Phase 2 drilling at West Kenya,” said Shanta chief executive Eric Zurrin in a statement.
“We are almost halfway through our total planned infill drilling programme at West Kenya for 2021 with a resource update due to be released later this month. We believe West Kenya represents significant upside potential for our business and we are excited to replicate our success in Tanzania across the wider East Africa region."
Shanta completed the acquisition of Canadian miner Barrick Gold's assets in Kenya at a cost of Sh1.4 billion last year.
The London AIM-listed miner said at the time it will consequently move to fast-track gold production in Western Kenya where Barrick held licences for rights to mine gold over a 1,161 square kilometre area that straddles Kakamega, Kisumu, Siaya and Vihiga counties.
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