Celebrations as a jaw-dropping gold deposit is discovered in Kakamega – You won’t believe just how much the discovered gold is worth

 

Saturday, May 29, 2021 – Miners have discovered a huge gold deposit worth billions of shillings at Isulu in Kakamega County.

Shanta Gold, a gold mining and exploration firm with interests in Western Kenya and Tanzania, announced the discovery of more gold deposits in the Western Kenya region.

According to reports, the firm confirmed that visible gold had been identified in 7 different intersections across 11 holes that had been drilled.

The gold is estimated to be worth Ksh164 Billion from the 1.31 million ounces of deposit approximated by the firm.

The results have exceeded previous drilling results that had been done in March when the firm had announced the viability of Gold at Isulu in Kakamega.

The West Kenya Project covers 1,162 km², representing the majority of the highly prospective and underexplored greenstone Archaean Busia-Kakamega Gold Belt in western Kenya.

Shanta Gold CEO Eric Zurrin could not hide his excitement announcing to shareholders that the company would escalate its drilling activities in the region.

“Results so far have been strong with some intersections demonstrating remarkably high grades and we look forward to updating the market on ongoing performance in due course,” wrote Zurrin.

The company in previous revelations to investors had allocated over Ksh 1B to exploration in western Kenya and is on track to complete approximately 40% of total planned drilling in Western Kenya by end of 2021.

The London-based gold mining company has ramped up its activities in Kenya, with officials earlier meeting Kakamega County’s leadership on August 20, 2020, to discuss mining in the region.

The region of Western Kenya near Lake Victoria is rich in gold ore. 

E! News Blog