RE: Fantastic RNS9 May 2024 07:43
These intercepts have extended the vertical depth of known mineralisation at Hawiah to 740m and increased the down-plunge extent of the Crossroads Extension Lode by a further 270m.
· At the satellite Al Godeyer deposit, a second phase of drilling comprising 4,500m has recently commenced to infill and expand its maiden MRE reported in 2023 (see announcement dated 3 April 2023).
· These two drilling programmes are on track to upgrade at least 90% of the >30 million tonne combined MRE to the Indicated Resource category, forming the basis for Ore Reserves.
recent drilling based on geological modelling and interpretation has now discovered a similar VMS copper-gold-zinc-silver system at Abu Salal located around 50km south of Hawiah.
"The recent Abu Salal discovery has confirmed that the large Hawiah deposit itself is only the first in a cluster of deposits
"Similar VMS signatures can be witnessed elsewhere on our portfolio of assets, where we would accordingly expect further discoveries to be made. GMCO has a portfolio of
15 exploration licences in Saudi Arabia.
Hawiah's status has recently been further highlighted by the granting of EL's, contiguous to GMCO's within the Wadi Bidah, to the Saudi Government-controlled company ("Ma'aden") and its local exploration joint venture with Ivanhoe Electric, which has announced that the Wadi Bidah is one of the top 4 priority targets for their proprietary deep-probing geophysical survey technology (the 'Typhoon' electromagnetic 'EM' method).
KEFI's GMCO joint venture partner ARTAR has agreed to fund the ongoing programme at present to ensure swift progress continues in Saudi Arabia whilst KEFI triggers project launch in Ethiopia at the high-grade Tulu Kapi Gold Project.
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