SOURCE: African Business Review

African Business Review

December 21, 2011 15:25 ET

Tanzanian Exploration Company Counts on Expertise

NORWICH, UNITED KINGDOM--(Marketwire - Dec 21, 2011) - Formed in 2001, Shanta Gold Limited is an exciting gold exploration and development company, engaged in greenfields to advanced exploration in highly prospective under-explored areas in Tanzania.

Shanta Gold's portfolio of properties comprises 38 prospecting licences, which cover a total surface area of approximately 1,307 km2. Gareth Taylor, Executive Director, says the company expects to be in full production by the middle of next year.

Shanta Gold has four projects: Chunya involves seven prospecting licences covering approx 327 km² and is in the Mbeya region, south west Tanzania, the second largest gold producing region in Tanzania. Mgusu holds one prospecting licence covering 0.4 km² and is in the Mwanza region of north-western Tanzania. Singida has 10 prospecting licences covering 474 km²; in the central Singida Region of central Tanzania. Finally, Songea has15 prospecting licences covering 378 km²; Mbinga and Songea Administrative Districts in the Ruvuma region of the south-west of the country.

There are 440 people employed altogether at Shanta Gold, although the company uses a sub-contracting model which takes care of this aspect of the business. Although the sub-contractor provides staff training, Shanta Gold works on community development projects where at least one person is employed as a complete trainer.

Read the full report for Shanta Gold Limited at: http://www.africanbusinessreview.co.za/reports/shanta-gold

About Shanta Gold Limited
After being formed in 2001, Shanta Gold was admitted to the London Stock Exchange's Alternative Investment Market (AIM) in July 2005. The company boasts a strong board and an experienced mining and exploration management team, combined with influential Tanzanian shareholders and partners and employs 440 staff directly.

About African Business Review
African Business Review is a leading digital media source of news and content for C-level executives focused on business and industry-specific news throughout Africa. African Business Review is the territory-dedicated arm of the White Digital Media Group. Founded in 2007 by entrepreneur Glen White, White Digital Media retains a diversified portfolio of websites, magazines, daily news feeds and weekly e-newsletters that leverage technology to innovatively deliver high-quality content, analytical data, and industry news. For more information, contact 1-760-827-7800 or visit http://www.africanbusinessreview.co.za/.

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