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Friday, 26th January 2007 (3311 views)

Shanta Gold has found patches of significant gold mineralisation at four new targets within its Singida greenstone belt which is in Tanzania.

The company has been continually drilling at Singida for some time and has previously announced discoveries with confirmed grades and depth continuity at well-mineralised shear structures like Gold Tree, Jem and Corn Patch.

Drilling at Singida has been "highly encouraging" according to Shanta Gold who has been using shallow reverse circulation drill holes.

The company also said that "numerous new drill targets" had been found at the site and that it has also discovered high-grade gold mineralisation in rock samples at another property. It is called Saza and lays in the Lupa gold field which is also in Tanzania.

Shanta is a new gold exploration company and it focuses solely on Tanzania. It was established in 2001 and uses grass roots exploration to hunt for multi-million ounce gold deposits.

The firm is listed on the London Stock Exchange's Alternative Investment market and has been since July 2005.

 

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