Business
Five exploration licences granted in Saudi Arabia
Five exploration licences granted in Saudi Arabia.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \n \n \n 10\n \n \n January 2023\n \n \n \n \n \n \n \n K\n \n \n EFI Gold and Copper plc\n \n \n \n \n \n \n (\"KEFI\" or the \"Company\")\n \n \n \n \n \n \n Five\n \n \n further e\n \n \n xploration licences granted in Saudi Arabia\n \n \n \n \n \n \n KEFI (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia is pleased to announce the award of five additional exploration licenses through the Company's Gold and Minerals Limited (\"GMCO\") joint venture in Saudi Arabia. GMCO is owned 30% by KEFI and 70% by its partner Abdul Rahman Saad Al Rashid and Sons Ltd (\"ARTAR\").\n \n \n \n \n \n \n Highlights\n \n \n \n \n ·\n Five additional exploration licences Wadi Na'afa, Al Awja, Abu Salal North, Umm Al Khabath and Jabal Selm (collectively the \"Exploration Licences\") have been awarded on an initial five-year term\n \n \n ·\n The Exploration Licences host sites of ancient mineral mining, within prospective mineral belts\n \n \n ·\n Abu Salal North and Umm Al Khabath VMS prospects lie within the Wadi Bidah Mineral Belt south of the Company's Hawiah project\n \n \n ·\n Wadi Na'afa and Al Awja lie within the underexplored and only recently accessible Lorelon gold-silver-copper mineral belt, located within the southwestern portion of the Arabian Shield\n \n \n ·\n Jabal Selm is a quartz vein hosted gold prospect within the Al Miyah Mineral District\n \n \n \n \n \n The GMCO regional exploration team have begun comprehensive mapping and sampling campaigns over these new licences. The outcomes of this fieldwork will be to ground-truth historical data, assess the surface grade limits of mineralisation and describe the structural framework controlling mineralisation. These programmes will then build into progressively advanced exploration works, including geophysics and trenching.\n \n \n \n \n \n \n Wadi Na'afa and Al Awja Exploration Licences\n \n \n \n \n \n \n The granting of the Exploration Licences presents a first foot advantage in exploration of the prospective Lorelon Mineral Belt, located 70km south of the town of Bisha. The Wadi Na'afa and Al Awja exploration licences are situated approximately 20km apart, within the Asir terrane in the western portion of th...