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Singida Gold Mine

We commenced construction of Singida in late 2020, which will be our second operating mine in Tanzania when it commences production, expected in Q1 2023, transforming Shanta Gold into a +100,000 oz/pa producer with a diversified resource base. Singida is in the Ikungi region of Central Tanzania, and we are investing heavily in the project to ensure it is a success for the region and the local community. The current Life of Mine extends to the end of 2029, based on existing reserves.

Shanta Mining Company Limited holds 100% of mining licenses ML 456/2012, ML 455/2012, and ML 457/2012, and these Mining Licenses were successfully extended for an additional period of 10 years in January 2022. Singida has a JV Partnership, and the partners retain 10% percentage of the resource held within ML 456/2012 and part of ML 455/2012 west of 721677.27mE. Most current reserves are east of 721677.27mE and therefore current attributable % to the partners is approximately 3%.

Open Pit Operations - Mining operations had commenced in September 2021, with ore currently being stockpiled, until it can be processed through the Carbon in Leach plant, which is currently being constructed. Seven open pits are planned to be mined as per the current Life of Mine Plan. A contractor-based mining open pit mining operation whereby the contractor’s supply and are supervised and or monitored by Singida management from the mine plan to the implementation.

Processing - The planned processing methodology is metallurgically simple and conventional involving proven crushing and milling techniques with carbon-in-leach gold extraction planned to deliver robust gold recoveries of 91%. The processing plant is designed to treat 365ktpa of fresh ore from the mine with planned average production of 32 Koz per annum of doré over the Life of Mine. The Crushing circuit is designed to facilitate future expansion. Singida will have one HDPE-lined tailings storage facilities (TSF) which is been designed with the best-practice methodology for TSF in the industry.

Power – Singida will derive its power requirements from the national grid electricity supply (TANESCO) and have emergency standby power generation (one 1,600 kVA diesel-powered generator).

Singida also has considerable upside potential given its location within a greenstone deposit, meaning it is well suited to further exploration growth. Only 26% of current resources are included in the existing life of mine plan and 90% of contained gold within reserves are less than 150 meters from the surface, highlighting the potential for reserve expansion at depth.

 

The geology of the Singida area is dominated by the Tanzanian granite-gneiss craton. Poorly exposed greenstone remnants were identified within the granite gneiss terrain during mapping by the Geological Survey of Tanzania (Haidutov 1976). These greenstones comprise an intercalated sedimentary and volcanic sequence with similarities to the Nyanzian Supergroup (System) of the Lake Victoria Goldfields.

The volcanic rocks encountered are predominantly basaltic lava and localised hypabyssal diorite/microdiorite intrusives. Meta-sedimentary rocks consist mainly of metaquartzitic lithologies, with subordinate siltstones, mudstones and banded ferruginous chert also encountered. The orientation of the layering is generally parallel to the basement foliation. Isoclinal folding is also evident.

The Nyanzian lithologies are generally metamorphosed to greenschist- and lower-amphibolite facies with localised occurrences of upper amphibolite grade. Post tectonic granite intrusives are common throughout the area.

Gold mineralisation is associated with penetrative brittle-ductile, steeply dipping, quartz veined shear zones that generally approximate the strike of lithological contacts.

The area south of Singida is exceptionally flat lying with little relief except for the granite intrusives that form prominent tors. Weathered overburden profiles are dominated by Neogene transported pedogenic gravels and related soils. Black Cotton soils (Mbuga) occurs locally.

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