Aim-listed Kefi Gold and Copper has confirmed a new discovery, as well as provided an operational update for the Jibal Qutman gold project in Saudi Arabia in the company’s minority-owned Gold and Minerals (GMCO) joint venture (JV).
A satellite deposit, Asfingia, was discovered with “excellent” grades of up to 66.6 g/t gold.
Drilling is ongoing on an identified 35 km mineralised strike across three contiguous licences. The selection of a preferred production startup plan is expected in the middle of the year.
Having completed the 13 000 m in-fill drilling programme in the third quarter of 2023, GMCO switched to resource expansion drilling which quickly led to the discovery of the Asfingia satellite deposit, Kefi avers.
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.