A gold exploration company has discovered 45,359 kilograms (1.6 million ounces) of gold in Kakamega, Ramula region, worth Ksh331 billion.
This was announced by Shanta Gold CEO Eric Zurrin who said an exploration effort had discovered the gold, which is a 37 percent increase on gold discoveries in the region.
“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 percent to 1.6 million oz,” said Zurrin.
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“This further strengthens our view that the region is a major new gold district and an area of massive future growth for the Company.”
The company has been focusing on seven sites including Ramula, Miruka, Anomaly 22, Ramba-Lumba, Aila, Masumbi and the former colonial mine Kiboko.
“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.
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Initially, the company had discovered 1.31 million ounces of gold deposits in May 2021, estimated to be worth Ksh164 billion.
The company had invested Ksh1 billion in the exploration exercise.
The Ramula region is located approximately 35 km from the Liranda Region which contains the high grade Isulu and Bushiangala deposits
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