Shanta Gold, a gold mining company that is focused on the exploration of East African countries, has announced a 37 percent increase in the discovery of gold in the Western Kenya region primarily in the Ramula region.
In a press statement dated Wednesday, March 9, the company's CEO Eric Zurrin hailed that the efforts were unveiled after a successful drilling programme that led to the discovery of 45,359 kilograms (1.6 million ounces).
The gold is estimated to be worth Ksh331 billion from the 45,359 kilograms of deposit unearthed by the firm.
"We are delighted with the transformative drilling results announced at the Ramula target, adding 434k oz grading to 2.08 g/t and increasing total resources at our West Kenya Project by a significant 37 per cent to 1.6 million oz.
"This further strengthens our view that the region is a major new gold district and an area of massive future growth for the Company," Zurin stated.
The CEO added that efforts had been put in place in order to expand the Ramula region to become the second significant resource region in Western Kenya.
"In the near term, we are looking forward to updating shareholders on the updated mineral resource estimate at Isulu-Bushiangala as well as the re-estimated historical maiden resource at the Bumbo polymetallic target."
"The West Kenya Project continues to produce exciting results the more we look, and we are confident that it has the potential to be a multi-million-ounce gold district comparable with other prolific greenstone belts in the world," Zurin noted.
During the drilling program, the company focuses on seven targets including Ramula, Miruka, Anomaly 22, Ramba-Lumba, Aila, Masumbi and the former colonial mine Kiboko. The entire Ramula region is located approximately 35 kilometres from the Liranda region.
This comes as the company had uncovered 1.31 million ounces of gold deposits in May 2021. The gold is estimated to total Ksh164 billion. The company has dedicated its resources- pouring billions for the completion of the program.
Initially, Shanta Gold poured over Ksh1 billion for the exploration of the Ramula region in a bid to uncover more gold.
