Shanta Gold, East Africa-focused gold producer, developer and explorer has discovered three more gold fields within the Western Kenya belt, following ongoing exploration efforts.
The three fields; Kimingini, Dhene and Miruka now add to the traditional Isulu and Bushiangala gold fields, raising hope that the firm will strike a commercially viable find whose potential has been estimated to be KES 164 billion.
This now brings to five, the number of gold fields with high inferred gold deposits within the popular Lihranda corridor that stretches from Kakamega, Vihiga, Busia and parts of Siaya.
Shanta Gold Limited Chief executive Eric Zurrin said the three fields have a total of seven high-priority targets.
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.
The firm posted a net loss of KES 874.7 million in its West Kenya project last year, reflecting the capital expenditure it is making with a goal of starting production in the future.
The West Kenya project did not have revenues in the two years when the firm has been spending heavily on feasibility studies to determine the full scale of gold deposits and whether to proceed to production.
Kenyan Wall Street
