AIM: SHG.L
Last: 10.15P (0.00)

Reserves & Resources

New Luika Gold Mine

NLGM Reserves

The total reserves position for NLGM as of 31 December 20211 is given below:

Deposit and classification Ore tonnes
(kt)
Ore grade
(g/t Au)
Contained
Ounces

(koz)
Ore Reserves – Underground 2,598 3.59 300
Ore Reserves – Open Pit 1,519 2.13 104
Total Ore Reserve 4,117 3.05 404

Note: 1. Reserves are reported in accordance with the JORC Code 2012.

NLGM Underground Reserves1,2,3,

Deposit Cut-off
grade
(“COG”)

(g/t)
Ore
tonnes

(kt)
Ore
grade

(g/t Au)
Contained
ounces

(koz)
Bauhinia Creek (“BC”) 1.9 182 6.59 39
Luika 1.6 1,843 3.25 192
Ilunga 2.0 169 4.53 25
BC North 1.9 185 3.03 18
BCE Area 1 1.9 220 3.69 26
Total Ore Reserve - Underground   2,598 3.59 220

Note: 1. Proved Reserve is 578kt @ 4.31g/t equivalent to 80koz.

Note: 2. Reserves are reported in accordance with the JORC Code 2012

Note: 3. Reserve estimates assume application of long-hole open-stoping. Economic evaluations are at a gold price of US$1,350 /oz. An assumed gold recovery of 90% has been applied.
 

NLGM Open Pit Ore Reserves1,2

Deposit COG
(g/t)
Ore
tonnes

(kt)
Ore grade
(g/t Au)
Contained
Ounces

(koz)
Black Tree Hill 0.6 580 2.12 40
Elizabeth Hill 0.6 808 2.16 56
Shamba 0.7 58 2.01 4
Bauhinia Creek North 0.6 73 1.96 4
Total Ore Reserve - Open Pit   1,519 2.13 104

Note: 1. Reserves are reported in accordance with the JORC Code 2012.

Note: 2. Economic evaluations are at a gold price of US$1,350 /oz. An assumed gold recovery of 90% has been applied.

NLGM Mineral Resource Estimate – COG 1.0 g/t (December 2021)

Deposit Measured Indicated Inferred Total Resource
  Tonnes (kt) Grade
(Au_g/t)
Ounces (koz) Tonnes (kt) Grade
(Au_g/t)
Ounces (koz) Tonnes (kt) Grade
(Au_g/t)
Ounces (koz) Tonnes (kt) Grade
(Au_g/t)
Ounces (koz)
Jamhuri - - - 613 1.82 36 760 1.62 40 1,373 1.71 74
Shamba - - - 65 2.26 5 104 1.61 5 169 1.86 10
Elizabeth Hill - - - 1,940 1.96 122 2,242 1.51 109 4,182 1.72 231
Black Tree Hill - - - 1,255 2.00 81 506 1.26 20 1,761 1.79 101
Ilunga 20 3.38 2 549 3.93 69 105 3.66 12 674 3.87 83
Luika 192 2.96 18 2,185 3.66 257 137 2.04 9 2,514 3.52 284
Bauhinia Creek 209 7.25 49 291 2.43 23 357 2.34 27 857 3.57 99
Bauhinia Creek East Area 1 242 4.64 36 11 4.90 2 26 3.95 3 279 4.57 41
Bauhinia Creek North - - - 221 3.25 23 36 4.38 5 257 3.41 28
Bauhinia Creek East - - - - 3.19 0 1 3.12 0 1 3.13 0
Luika South - - - 118 3.67 14 178 3.15 18 296 3.35 32
Black Tree Hill North - - - 114 1.78 7 37 1.40 2 151 1.69 9
Porcupine South - - - 986 2.15 68 852 1.68 46 1,838 1.94 114
Grand Total 663 4.94 105 8,348 2.63 707 5,341 1.73 296 14,352 2.40 1,108

The Singida Project

JORC 2012 Reserve (31 December 2021)

Deposit COG
(g/t)
PROBABLE RESERVES
    Ore tonnes (kt) Ore grade (g/t Au) Contained Ounces
(koz)
Recoverable Ounces
(koz)
Cornpatch 0.79 134 1.88 8 8
Cornpatch West 0.78 295 3.46 34 29
Gold Tree 0.74 1,342 3.40 147 132
Gustav 0.78 129 1.7 7 6
Jem 0.74 324 2.86 30 27
Kaizer Chief 0.78 142 1.65 8 7
Vivian 0.74 125 2.38 10 9
Grand Total 0.75 2,491 3.02 242 218

Mineral Resource Estimate (31 December 2021)

Deposit MEASURED INDICATED INFERRED TOTAL RESOURCES
  TONNES GRADE OUNCES TONNES GRADE OUNCES TONNES GRADE OUNCES TONNES GRADE OUNCES
  (kt) g/t (koz) (kt) g/t (koz) (kt) g/t (koz) (kt) g/t (koz)
CORNPATCH 117 2.00 8 336 1.98 22 517 2.36 39 970 2.18 69
CORNPATCH WEST - - - 824 2.52 67 565 1.87 34 1,389 2.26 101
GOLD TREE 1,115 3.74 136 1,294 2.39 100 3,274 2.02 213 5,683 2.43 449
GUSTAV - - - 148 1.49 7 783 1.85 47 932 1.79 54
JEM 376 2.99 36 542 2.67 46 532 2.92 50 1,451 2.84 132
KAIZER CHIEF - -  - 475 1.67 25 354 1.98 22 828 1.80 47
VIVIAN - - - 405 2.97 38 125 3.40 14 529 3.07 52
TOTAL 1,608 3.39 180 4,024 2.36 305 6,150 2.12 419 11,782 2.39 904

The West Kenya Project

West Kenya Mineral Resource Estimate

A maiden NI43-101 compliant Inferred Mineral Resource Estimate (MRE) on the Isulu and Bushiangala prospects was announced in 2017. The latest update of the MRE was completed in May 2018:

Mineral Resource Category Prospect COG
(Au g/t)
Tonnes
(t)
Mean Grade
(Au g/t)
Ounces
(oz)
Inferred Isulu 2.0 2,527,300 13.0 1,060,300
Inferred Bushiangala 7.0 382,400 9.9 122,000
    Total 2,909,700 12.6 1,182,300

Latest News

Subscribe for News