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Location: 30 km SW from Kakamega, Kenya
KakamegaKenya
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On 8 May 2024, the board of Shanta Gold Limited announced that the Court had sanctioned the Scheme.
On 10 May 2024, Shanta and Saturn Resources Ltd (Bidco) are pleased to announce that the Scheme has now become Effective in accordance with its terms and the Scheme Shares are now owned by Bidco, and the entire issued share capital of Shanta is owned by the Bidco Group.
Shanta Gold Ltd. owns the high-grade West Kenya Project.
The West Kenya Project Licence Area including Isulu and Bushiangala deposits in Kakamega Camp and Ramula deposit in the Ramula Camp.Isulu and BushiangalaThe Liranda Corridor is located on the eastern most margin of the Busia-Kakamega Belt. Here rocks form a broad synclinal structure intruded in the centre by granitoids and dioritoids, informally termed the Kakamega Dome. The Liranda Corridor is situated on the eastern limb of this synclinal structure within a 12 km structural zone known informally as the Liranda Corridor. Lithologies of the Isulu and Bushiangala prospects include sediments, iron-rich basalts, ultramafic volcanic rocks, gabbros, dolerites and small felsic intrusions. The mafic volcanic unit also includes thin layers of sulphidic carbonaceous interflow mudstone.The Isulu and Bushiangala prospects mineralisation are classified as orogenic, shear-zone-hosted quartz-carbonate vein subtype. Mineralisation of this sub-type consists of quartz-carbonate veins and veinlet arrays associated with Mg-Fe carbonate alteration and sulphidation, which are developed within shear zones and their splays, within competent rock units. Mineralisation is concentrated in zones of enhanced fluid flow, such as jogs or changes in strike along the larger-scale fault zones.The main zones of mineralisation at Isulu extend up to 240m along strike. The resource estimate (Phase 1) generally includes mineralisation down to 250m depth.At Bushiangala the mineralisation extends over 270m along strike in the NNW-SSE trend and 150m along strike in the E-W trend. The resource estimate extends to a maximum depth of 250m.Both deposits remain open along strike and at depth.RamulaThe Ramula deposit lies primarily within a small dioritoid stock and its contact zones. The stock has intruded a sequence of intermediate volcanic rocks comprised of intermediate volcaniclastic (breccias and tuffs) and volcanic extrusive rocks. The deposit is situated less than 1 km from the district-scale thrust fault and unconformity with the polymictic ‘Timiskamingstyle’ conglomerates. Minor quartz feldspar porphyries are present. The elongate dioritoid body is approximately 300 m by 500 m with a northwest- southeast trending long axis. Mineralisation at Ramula is hosted within a series of stacked, shallow-dipping, thin quartz tension veins primarily hosted in the strongly altered dioritoid and extending into the surrounding intermediate volcanic units. Gold-bearing quartz veins are clustered in wellidentifiable zones. Lowergrade gold mineralisation also occurs between the veins. The style of mineralisation of the Ramula deposit resembles Sigma-Lamaque style at the Val’d-Or Camp of the Abitibi Gold Belt, Canada, where recent systematic exploration resulted in discovery of several proximal gold deposits within the camp, which was previously considered as overmatured. Ramula mineralisation is open for extension to the northwest and southeast and Shanta’s recent drilling to 600 m depth confirms mineralisation is open at depth, hence potential for underground mineable resources exists. The main zones of mineralisation at Ramula extend up to 480m along strike. The resource estimate includes mineralisation down to 225m depth. The deposit remains open along strike and at depth.
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