The Mar 1914 Confederate Veteran article on Col. David Shanks states that Maj. John N. Edwards who succeded Shanks as major in the regiment wrote "Shanks, leading far ahead, before his Iron Brigade, his hat off, his eyes ablaze with a battle light, cheered on the fight (1864, Osage Crossing) It was hot and pitiless while it lasted, but the Confederates triumphed. Just in the very monent of victory, as a wild shout went up to sober ashen skies, Shanks fell, a minnit ball through his dauntless breast." Edward goess on to write that Shelby rode to the fallen Shanks, said a "few expressions of hope, then rode away.
My impression from this is that Shanks died, but another message in this string says he was captured. Did he die later of his wound?
The article states that Shanks accompanied Upton Hays to California in 1849 (the party was led by Upton's father, Boone Hays) and he is listed in the 1860 Big Bar Twsp., El Dorado Co., CA Census "David Shanks, 27, Miner, $100/$600, KY." He was back in Pleasant Hill, MO (Cass Co.?) in 1862 raising a company(G) for Col. Hays 2nd/12th MO Cav. (Confed).
Many thanks to Gil Bergman for sending me a copy of this article.