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Kefi Minerals Share Chat (KEFI)



Share Price: 1.675Bid: 1.60Ask: 1.75Change: -0.05 (-2.90%)Faller - Kefi Minerals
Spread: 0.15Spread as %: 9.37%Open: 1.725High: 1.725Low: 1.65Yesterday’s Close: 1.725


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KUMS
Posts: 5,918
Observation
Opinion:Strong Buy
Price:3.98
Cradle of Gold
4 Dec '12
AIM: KEFI 4th December 2012 KEFI Minerals Plc ("KEFI Minerals" or the "Company") Exploration Update

KEFI Minerals, an AIM-listed gold and copper exploration company with projects in the Kingdom of Saudi Arabia, is pleased to announce additional diamond drill results from the initial drilling programme at the Jibal Qutman Licence and the completion of the geophysical IP survey at the Selib North Licence for the Company's 40%-owned Gold & Minerals Joint Venture ("G&M").

HIGHLIGHTS

* Diamond Drilling at Jibal Qutman returns encouraging intersections, including 7m at 6.13g/t Au and 3.8m at 5.46g/t Au * Trench sampling at Jibal Qutman returns 15m at 4.67g/t Au, 3m at 6.59g/t Au and 20m at 1.89g/t Au * IP and SP Survey complete at Selib North and preliminary interpretation identified 3 target zones for drill testing

JIBAL QUTMAN

The Jibal Qutman Licence was granted in July 2012 and exploration work has progressed rapidly from surface mapping and trenching to commencement of the first phase of diamond drilling.

A total of 35 diamond drill holes have been completed testing the shallow open cut potential of the gold mineralisation, which is hosted in a series of quartz veins over a 3km zone. Five holes are to be re-drilled due to low drill core recoveries (as low as 10% over several metres) in the mineralised zones. It is observed from trench mapping that higher gold grades are associated with the highly fractured parts of the quartz veins, which are often lost in the drilling process, and that there is supergene enrichment.

The main vein dips at 45° to the east and parallel veins form stringer zones around the Main Vein ("MV"). In addition, sets of flat lying veins have been recently recognised in a separate area in the Western Zone ("WZ") and Southern Zone ("SZ") of the prospect area.

Diamond drilling is being performed on initial 100m x 25m and 50m x 25m grids. The best results not reported previously, include:

HoleNo. From Interval g/tAu g/tAg(>20) Zone JDQ 7 25.4m 1.6m 9.01* 200.5 [MV] 42.4m 7.1m 5.85* 59.61 JDQ 12 74.0m 3.4m 1.69 - MV JDQ 13 (Pending) MV JDQ 15 56.0m 6.0m 1.00 - WZ JDQ 16 17.0m 1.0m 2.01 - WZ 31.2m 1.0m 1.10 - 40.0m 13.0m 1.17 - JDQ 17 15.5m 3.2m 1.08 - MV JDQ 18 34.4m 13.0m 1.29 - MV 58.5m 2.2m 4.77 - JDQ 19 20.0m 4.0m 2.69 38.5 WZ JQD 21 18.5m 6.2m 2.57 25.5 MV JQD 23 20.0m 1.3m 7.17 100.2 MV JQD 24 33.9m 7.0m 6.13 - MV JQD 26 29.2m 3.8m 5.46 - MV JQD 27 45.0m 30.00m 0.60 - MV

* Au grades previously reported

TRENCHES Trench No. Interval g/t Au Zone JQT 57 13.0m 1.07 MV JQT 58 15.0m 4.67 MV JQT 59 16.0m 0.77 MV JQT 60 3.0m 6.59 SZ JQT 69 3.0m 3.67 SZ JQT 84 1.7m 4.25 SZ JQT 87 20.6m 1.89 WZ JQT 89 11.3m 1.34 WZ

Drilling is continuing over all 3 zones. The latest drill holes completed have extended the Main Vein a further 75-100m south of previous drilling.

A dyke unit with disseminated and fractures filled with pyrite
 
worldoil
Posts: 6,996
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Price:3.98
Jange
4 Dec '12
Outstanding. Now I understand the talk of the 20p take over.
jange
Posts: 24,519
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Price:3.98
summery
3 Dec '12
KEFI Minerals’ extensive exploration database provides the Company with a competitive advantage to identify prospective areas for project generation in Turkey. Monitoring of the exploration licence status of geologically prospective areas will be carried out on an ongoing basis so that KEFI Minerals can acquire further exploration opportunities as soon as they become available.

Since listing, we have successfully expanded our exploration portfolio in Turkey and currently have 21 Explorations Licence applications pending in the Kingdom of Saudi Arabia. We have also assessed and relinquished a number of licences in Turkey that did not live up to earlier expectations.
jange
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Price:3.98
photo's
3 Dec '12
jange
Posts: 24,519
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Price:3.98
Jibal Qutman Licence
3 Dec '12
The Jibal Qutman Licence is located in the central southern region of the Arabian Shield and covers an area of 99.9km2. The Licence was granted in July 2012 and field work carried out to date includes surface mapping and trenching across quartz veins which contain ancient workings for gold and drilling. The Licence area is an important part of the prospective Nabitah – Tathlith Fault Zone, a 300km-long structure with over 40 gold occurrences and ancient gold mines.

The United States Geological Survey “USGS” explored the area and drilled 3 holes in 1983, best results included 5m @ 5.2 g/t Au and 90 g/t Ag (with highlights of 0.5m @ 13.0 g/t Au and 180 g/t Ag, 0.4m @ 12.5 g/t Au and 173 g/t Ag); and 1.6m @ 6.8 g/t Au and 66 g/t Ag. Numerous veins were intersected but not sampled. In addition, core loss up to 80% was recorded in quartz vein intervals.

The current G&M mapping and trenching programme has defined additional unmapped ancient mining sites, new parallel gold-bearing veins and extended the previously known strike of the quartz vein sets at the Jibal Qutman prospect from 400m to 2.9km in length.

The gold mineralisation at Jibal Qutman is hosted in a series of quartz veins. The main vein dips at 45° to the east, where also parallel veins form stringer zones around the main vein. In addition, sets of flat lying veins have been recently recognised in a separate area in the northwest and extreme south of the prospect area.

Rock chip channel sampling, undertaken by G&M during field assessment of the area, returned results of up to 4m at 9.36 g/t Au and 93 g/t Ag and 1.5m at 5.72 g/t Au and 67 g/t Ag on unmined portions of quartz vein. Where not mined out the vein widths are generally 2-5m wide, with a maximum width of 11m. Surface rock chip grab samples are consistently high grade, averaging over 9 g/t Au and 70 g/t Ag.
jange
Posts: 24,519
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Price:3.98
Hikyrin and Hikyrin South
3 Dec '12
The Hikyrin and Hikyrin South EL’s were formally granted by the DMMR in January 2012. The Licences host favourable shear zones, fault structures, quartz-veined alteration zones and contains ancient hard rock workings for gold. The two licences are contiguous and cover a combined total area of 151 km2. The claims are located within the well-mineralized Central Arabian Gold Region which is hosting Ma’aden’s Ar Rjum deposit (2.65 Moz Au), located 30 km to the south of the Hikyrin tenements and Ash Shakhtaliah deposit (~1 Moz Au), 10 km to the northeast of the Hikyrin tenements.

Within the southeast quadrant of the Hikyrin South tenement, ancient mining exploited gold-bearing quartz veins at the “Houimedan West” as near surface diggings over approximately 700 m of strike length.

Post the reporting period in 2012, systematic evaluation of the Hikyrin South Licence began with soil sampling program over the entire licence area. This was followed by detailed geological mapping and sampling in the vicinity of the “Houimedan West” ancient workings.

These efforts outlined gold-in-soil anomalies which warranted infill definition soil sampling and may lead to drill testing in the central part of the claim.

At “Houimedan West”, samples (taken from the waste dumps of ancient mining) have returned up to 16.3 g/t Au and at an average of 5.9 g/t from 24 samples spread over a 700 m strike length.

These results support the high gold grades of the quartz veins in the dumps which were sampled by BRGM in the 1980’s when they reported assay results up to 78.6 g/t Au. The individual quartz veins are narrow, generally 0.2 to 0.6 m wide, occur in a sheared and hematite-altered zone of up to 4 m width.
jange
Posts: 24,519
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Price:3.98
Selib North
3 Dec '12
The Selib prospect was explored by BRGM in 1982. Numerous alluvial and eluvial pits mark the base of the ridge at Selib. Results from soil geochemistry defined a 1.8 km long by 350 m wide north-south zone at the 50 ppb Au contour with a maxima of 2,700 ppb Au. The geochemical anomalies were tested in three small areas over the 1.8 km strike length by the BRGM with 16 percussion drill holes for a total 1,784m. The best intercept obtained in the drill programme was 8.4 g/t Au over 1.5 m. The soil anomaly is open to the north and continues into G&M Joint Venture’s Selib North EL.

The gold anomalies in soil and rock at the Fawarah mine are open to the south and continue into the Selib North EL. Gold is hosted in quartz lodes in altered gabbro, diorite, serpentinite, and carbonate rocks. Mineralised zones of >0.2 g/t Au attain widths of up to 20 m with maximum values of 8.3 g/t Au and 2.3 g/t Ag. A total of four percussion drill holes were drilled for 420 m at Fawarah, with a best result of 3 m at 6.78 g/t Au.

No exploration, including soil sampling or drilling was carried out by the BRGM on the Selib North prospect.

The Licence Rights and Ongoing Exploration
Selib North licence was formally granted by the DMMR in June 2011. It covers a 75 km2 area.

Numerous small scale hard rock, alluvial, and eluvial gold workings are located within the Selib North Licence area which is aligned along a 10 km long north-south trending major crustal fault zone. These gold workings were recorded but not mapped or sampled by the BRGM.

Gold mineralisation in the various prospects in the Selib North EL, are hosted in ophiolitic rocks that are cut by the Al Amar – Idsas Fault Zone. The host rocks are mainly serpentinite and listwaenite, metabasalt and diorite. They are cut by north-striking quartz and carbonate veins. The veins, now the sites of ancient trenches, are distributed over a band 1.8 km long and 0.3 km wide at the ancient Selib mines (located immediately south of the Selib North Licence area), and 2.0 km long and 0.2 km wide at Fawarah. Historic Mining that took place was mainly by panning of crushed quartz and host rock. In places, there is visible gold.

Mineralisation and associated alteration in the Selib North area is hosted by mylonitic and listwaenite shear zones with series of pyritic dykes and in quartz veins. There are references in BRGM reports that this mineralisation style is similar to Ma’aden’s Ad Duwayh deposit which contains >2.6 Moz Au.

Follow-up of the ASTER anomalies, combined with other structural targeting techniques, successive field mapping and sampling resulted the discovery of three new areas of gold mineralisation hosted by pyrite rich dykes with no evidence of ancient mining.
jange
Posts: 24,519
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Price:3.98
KEFI
3 Dec '12
About ARTAR

ARTAR is a Saudi Arabian conglomerate investing in different sectors such as construction, real-estate, agriculture and health care in the Kingdom of Saudi Arabia and abroad. ARTAR’s principal business activities include commercial and residential property development, engineering, and construction of large shopping malls, hotels, hospitals and high rise apartment complexes. The company employs more than 17,000 people. Investment in the fledgling minerals sector in Saudi Arabia has recently been added to ARTAR’s business expansion plans. Further information is available on the ARTAR website
jange
Posts: 24,519
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Price:3.98
KEFI
3 Dec '12
G&M Prospects

G&M’s primary target will be the discovery and development of a >1 million ounce gold deposit in Saudi Arabia’s under-explored Precambrian Shield. KEFI Minerals and ARTAR have 21 Exploration Licence Applications (“ELA”) pending. Each ELA covers an area of approximately 100km2. Exploration Licences are granted for a period of five years and can be renewed for a further five years. Almost all of the ELA areas contain ancient workings and some have visible gold in quartz veins and other indications of potentially economic mineralisation. The ELAs are targeting both gold and copper-gold mineralisation. KEFI Minerals plans to rapidly progress these prospects to the drilling stage whilst continuing project generation work in Saudi Arabia with the aim of applying for further Exploration Licences.
jange
Posts: 24,519
Off Topic
Opinion:No Opinion
Price:3.98
kefi
3 Dec '12
G&M Joint Venture

In May 2009, KEFI Minerals announced the formation of a new minerals exploration joint venture, the Gold & Minerals (“G&M”) Joint Venture, with leading Saudi construction and investment group Abdulrahman Saad Al-Rashid & Sons Company Limited (“ARTAR”). KEFI Minerals is the operating partner with a 40% shareholding of G&M with ARTAR holding the remaining 60%.

KEFI Minerals will provide technical advice and assistance to G&M, including personnel to manage and supervise all exploration and technical studies. ARTAR will provide administrative advice and assistance to ensure G&M remains in compliance with all governmental and other statutory procedures.



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