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GMCO/ARTAR-Hancock wins tender for Saudi Arabia EL
GMCO/ARTAR-Hancock wins tender for Saudi Arabia EL.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n\n20 March 2025\nKEFI Gold and Copper plc\n \n(\"KEFI\" or the \"Company\")\n \nGMCO/ARTAR-Hancock wins tender for Al Hajar North Exploration Licence in Saudi Arabia\n \nLicence areas increased from 1,300 km2 to >2,200 km2 for GMCO-led exploration programs\n \nKEFI (AIM: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, is pleased to report that its Gold and Minerals SLA (\"GMCO\") joint venture in Saudi Arabia, has been announced by the Saudi Arabian Government as the winner of the tender for the 910km2 Al Hajar North Exploration Licence (\"EL\") via a new 50:50 joint venture between GMCO/ARTAR and Hancock Prospecting Pty Ltd (\"Hancock\"), a leading Australian-based mining group.\n \nGMCO's technical expertise and record of discovery was coupled with the multi-billion dollar financial strength and commitment of both ARTAR and Hancock and the Al Hajar North JV will be 50:50 GMCO/ARTAR and Hancock.\n \nThe Al Hajar North JV was selected from 18 multi-billion-dollar groups that participated in the tenders for five mineralised belts covering 4,788km2 identified as being amongst the most prospective areas for \"Global Tier 1\" orebodies within Saudi Arabia.\n \nThe Al Hajar North EL covers the northern Wadi Shwas Mineral Belt in southwest Saudi Arabia (map appended) and runs parallel to and only 50km east of the geologically comparable Wadi Bidah Mineral Belt (\"WBMB\") where GMCO has made three Volcanic Massive Sulphide (\"VMS\") discoveries (Hawiah, Al Godeyer and Abu Salal). As with the WBMB, the Wadi Shwas Mineral Belt (\"WSMB\") is highly prospective for VMS and orogenic gold deposits, comprising similar rock units and formational environments.\n \nThrough a review of historical and more recent exploration works across the Wadi Shwas Mineral Belt, the GMCO Exploration team have identified 26 mineral occurrences within the Al Hajar North EL which will form the primary focus of GMCO's initial exploration programme.\n \nThe Al Hajar gold mine, which was operated by Maaden during the 2000-2010's, is located just to the south of the Al Hajar North EL, where approximately 400,000 ounces of gold were extracted from several gold-rich VMS gossans. The same VMS horizon trends north directly into the Al Hajar North EL with similar gossans...