Shanta Gold: Singida JORC Resource Estimate and NLGM Operations Update

Shanta Gold (AIM: SHG), the East Africa-focused gold producer, announces a JORC compliant Mineral Resource Estimate (“MRE” or “Resource”) on the Singida Gold Mining Project (“Singida” or “the Project”) in Central Tanzania and provides an operational update for its New Luika Gold Mine (“NLGM”), in Southwest Tanzania.
As quoted in the press release:

Eric Zurrin, Chief Executive Officer, commented: “We have made good progress at Singida by declaring a compliant resource and in doing so, increasing Shanta’s total group compliant resources to over 2 million ounces. We have identified a number of targets at the project, which we will continue to explore over the coming months, with a view to expanding the potential size of the Singida project and increasing the Measured & Indicated resource ounces.” “I am also pleased to announce that we have already surpassed our targeted spending reductions of US$5 million of annualised savings whilst identifying operational changes which will continue to create further value for Shanta and its Shareholders. This approach is in line with our previously announced strategy of aligning the senior management team with that of Shanta’s owners and optimising the financial performance of our operations.”

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