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(Alliance News) - KEFI Minerals PLC on Tuesday posted positive results from a drilling programme at its Hawiah exploration licence in Saudi Arabia.
The assay results included drill hole HWD 002, which returned 2.6 metres at 2.5% copper, 0.1% zinc, 1.9 grams of gold per tonne of ore, and 17.8 grams per tonne of silver from a depth of 37.4 metres.
Further, drill hole HWD 003 returned 8.7 metres at 4.2% copper, 0.2% zinc, 0.7 grams per tonne of gold, and 15.6 grams per tonne of silver from 38.7 metres.
Volcanic massive sulphide mineralisation has proven to be continuous along strike and down dip at Hawiah, KEFI said, being consistently found along the currently tested 1.5 kilometre-long southern portion of the Hawiah ridge.
Moreover, hole HWD 005 has shown the massive sulphide mineralisation continues to a depth of more than 250 metres.
So far, assay results have only been received for three of the nine drill holes at Hawiah, but HWD 004, 005, and 009 have also intersected significant massive sulphide mineralisation as well.
Executive Chair Harry Anagnostaras-Adams said: "Our few drill holes so far are consistently hitting massive sulphide with encouraging base and precious metal content, including over 4% copper. These intersections are over both long horizontal and vertical distances.
"This has been an excellent start to testing what KEFI believes is a large [volcanic massive sulphide] system, which appears potentially analogous to some world class discoveries in the Arabian-Nubian Shield."
Shares in KEFI were up 0.6% at 1.66 pence in London late on Tuesday morning.
By Anna Farley; annafarley@alliancenews.com
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