Drill campaign ups resource, dents reserves at New Luika

A January infill drilling campaign at East Africa-focused gold producer Shanta Gold’s New Luika gold mine, in Tanzania, has increased the resource at both the Bauhinia Creek (BC) and Luika targets, further improving the confidence in the potential for underground mining at each deposit, the company said on Monday. This brought the total Joint Ore Reserves Committee-compliant resource for New Luika, which incorporated BC, Luika and satellite deposits within 4 km2 of the processing plant, to 12.9-million tons at 3.2 g/t for around 1.3-million ounces.