KEFI Gold and Copper Plc (AIM: KEFI) has announced the discovery of a third copper-gold-zinc-silver deposit in the broader Hawiah district by the company’s Gold & Minerals Ltd (GMCO) joint venture, Saudi Arabia.
GMCO has discovered another volcanogenic massive sulphide (VMS) deposit, at Abu Salal, representing the third discovery in the Hawiah copper-gold district.
The Abu Salal VMS is located 50km south of GMCO’s Hawiah project in the central portion of the Wadi Bidah Mineral Belt, connecting GMCO’s Abu Salal north and south exploration licences.
Harry Anagnostaras-Adams, executive chairman, commented, “Ongoing exploration near our Hawiah copper-gold-zinc-silver deposit has now quickly yielded two additional discoveries, Al Godeyer and Abu Salal. Discovery of the latter has further strengthened our view that the Hawiah deposit itself is only the first in a cluster of deposits, as often occurs with this style of mineralization, in a much broader district.”
In addition, drilling has intercepted massive and semi-massive sulphide mineralization containing copper, gold, zinc, and silver, in multiple horizons, across a 2,600m strike length, with true widths of up to 11m, indicated by the first-pass 18-hole (2,009m) scout drilling programme. This north-south tending gossan horizon remains open at depth along strike and down plunge.
Compelling results from the scout drilling programme include:
– ASD_004: 11.2m at 0.94% copper, 1.03% zinc, 0.33g/t gold, and 14.96g/t silver from 27.9m
– ASD_008: 7.0m at 0.91% copper, 0.4% zinc, 4.0g/t silver from 36.0m
– ASD_009: 7.1m at 0.6% copper, 1.0% zinc, 0.2g/t gold, and 10.9g/t silver from 72.0m
Follow up exploration activities in 2024 will focus on drill testing deeper portions of the system to further assess grade and geological continuity, guided by deeper geophysics and geological modelling. The upcoming programme will also look to extend the known mineralization down plunge and along strike.
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