Two additional exploration licences have been awarded to KEFI Gold and Copper through its joint venture partner Gold and Minerals Limited in Saudi Arabia. Gold and Minerals is owned 30% by KEFI and 70% by its partner Abdul Rahman Saad Al Rashid and Sons Ltd, known as ARTAR.
The licences, Jibal Hillit and Qunnah, have been awarded over an initial five-year period. Gold grades of up to 15.3 grams per tonne (g/t) have been documented at Jabal Hillit and up to 46 g/t at Qunnah, found in quartz veins.
The more advanced licence is Jabal Hillit, which has 20 mapped gold locations spread across five main vein packages. Meta-volcanic units have been found to have veins that strike sporadically for 1,500 meters, with diameters of up to 2.5 meters.
The licences, Jibal Hillit and Qunnah, have been awarded over an initial five-year period
Gold-bearing, structurally controlled quartz veins are also present in three key sections of the Qunnah exploration licence area. Similar to Jabal Hillit, earlier miners unquestionably targeted the quartz-vein gold mineralization as evidenced by the enormous crush and dump piles discovered throughout the area.
Harry Anagnostaras-Adams, Executive Chairman of KEFI, explained: “Work in Saudi Arabia is gathering pace on many fronts. “Our Hawiah project is firmly on track for the delivery of the preliminary feasibility study by year-end, we have exciting developments on the Jibal Qutman gold project and now the granting of these two additional exploration licenses. The award of the exploration licences, which contain known high-grade gold occurrences, provides an exciting opportunity to make further discoveries at a time where the country is focused on developing its mineral resources.”
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