Diamond drilling intersections included 7m at 6.13 grams per ton (g/t) gold (Au) and 3.8m at 5.46g/t Au, while trench sampling results at the prospect were 15m at 4.67g/t Au, 3m at 6.59g/t Au and 20m at 1.89g/t Au. Jeff Rayner, KEFI Minerals managing director said: "Drill results from Jibal Qutman continue to support high grade gold in quartz veins, surrounded by lower grade quartz stringer zone and in separate zones of stacked flat lying veins in the west and south of the prospect. At another prospect in the Kingdom, Selib North, recent geophysical surveys had identified three potential targets, Rayner added.........................
KEFI encountered grades of up to 16.3 grams per tonne at Hykirin South while at Selib North gold grades reached 27.7 grams per tonne.................
A total of 8 holes were drilled for 928m. Drilling was carried out on 4 sections spaced 50m apart and down to 100m vertically below surface. The results included an 11 metre intersection at 3.11/t gold, 2 metres at 3.16 g/t and a one metre intersection at 38.66 g/t..................
KEFI added that rock chip channel sampling results from the on-going trenching programme at Jibal Qutman, another prospect, confirmed the high grade gold and silver contained in quartz veins. The massive quartz veins are generally 2-5m thick and together with the footwall and hangingwall stockworks the mineralised zones range up to 23m in width. Jeff Rayner, managing director, said: "The initial drill results confirm a promising new discovery at Selib North. To our knowledge, this style of gold mineralisation has not been documented in the Arabian Shield before and could be potentially part of a large intrusive system.
As I said before this is a share which can fluctuate greatly. In Jan 2011 the share price reached 10p without a drill hole being made. We now have four licence's and positive drill results and still we are in the low part of 4p. If we get positive news soon we may get to 5p. If it does watch for a retrace until we get more news. Lumers69. in my opinion, is correct, talk of 7p by months end is pie in the sky. He is also right in saying that KEFI is a safe bet. However it will only realise its full potential, well into the future.
Everyone has their own investment stratagy. I have a serious holding which I will hold long term. I have, however a second number which I will be in and out of like a fidlers elbow. Good luck everyone. I am sure your way works for you. Cheers
...... I believe their going places. how long that will be I don't know. Certainly don't believe of the "7p" by the end of the month posts. This share can swing widely, but ultimately is a fairly safe bet.
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