Three more gold mines found in Western Kenya after the exploration process, worth Sh164 billion
Three more gold mines have been discovered in Western Kenya adding to already existing traditional goldmines in the region.
The trio of Kimingini, Dhene, and Miruka now complement the well-known Isulu and Bushiangala gold mines, giving the reason for optimism that the Guernsey-registered company would make a financially sound discovery with potential worth an estimated Sh164 billion.
The number of goldfields with significant inferred gold resources within the well-known Lihranda corridor, which extends from Kakamega, Vihiga, Busia, and portions of Siaya, now stands at five.
Dhene and Miruka are in the Ramula camp, while Kimingini is in the Lihranda camp.
Shanta Gold Limited Chief executive Eric Zurrin said the three fields have a total of seven high-priority targets adding that the company is now expanding its drilling exercise in the area as the thirst to establish a mine gathers momentum.
Isulu and Bushiangala have been the centre of concentration by the exploration firm that holds seven licenses that were issued by the Government of Kenya.
Mr. Zurrin said recent drilling results from West Kenya continue to confirm the high-grade nature of the ores after visible gold was identified across several of the intersections.
“We expect to provide a resource update before the year-end at the Isulu and Bushiangala deposits while we should also provide a mineral resource update for Ramula in January,’ said Mr. Zurrin.
He went on: “With these announcements in the coming months, shareholders can expect to see a significant conversion of the inferred resources to indicated ounces, further de-risking the mineral resource estimate and demonstrating the intrinsic value of the West Kenya Project.”
“We remain extremely excited about the potential of the west Kenya Project, with its exceptionally high-grade resource marking it out from other gold global exploration projects,” said Mr Zurrin.
The official said the firm is confident that the market will start to realise the true value that West Kenya brings to the Shanta portfolio by the end of this year.
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