KEFI Gold and Copper awarded two additional exploration licences in Saudi Arabia

KEFI Gold and Copper plc (LON:KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has announced the issuance of the Al Godeyer and Al Godeyer East Exploration Licences, to the KEFI-operated Saudi Arabian joint-venture Gold and Minerals Limited. The licences are situated 12km south-west of the Company’s Hawiah discovery, which is expected to shortly upgrade the 2020 Mineral Resource Estimate (“MRE”) of 19.3Mt at 1.9% copper equivalent.


·      Al Godeyer and Al Godeyer East licences granted on an initial 5-year term

·      Exploration work suggests a strike length of more than 2km for the identified gossan horizon

·      Accelerated Exploration programs targeting a Maiden resource within 2022

·      Situated adjacent to the Company’s significant Hawiah discovery


The Company’s Hawiah Copper-Gold VMS project (“Hawiah’) is now advancing through the Preliminary Feasibility Study (“PFS”) for potential development, having completed 42,000m of drilling across the project during the 2019-2021 initial exploration phase.  An update to the MRE, in conjunction with SRK Consulting (UK) Ltd, is nearing completion and is expected to be announced later in December 2021. This will form the basis for much of the PFS works including mine and process design.  

The granting of the AG Licences is a significant step in G&M’s plans for the development of the wider Hawiah Project area, representing the first of the satellite targets to be explored. The proximity and shared mineralisation style should present an excellent opportunity to enhance the Hawiah project with additional grade and tonnage.

Al Godeyer VMS mineralisation

The Al Godeyer area, covered by the AG Licences, was first mapped and trenched by the French Government Geological Department (“BRGM”) in the 1980’s, with mineralisation occurring as outcropping, NW-SE striking gossans over 800m in length and widths of up to 6m. The gossans are hosted within a felsic-intermediate volcanic package, consistent with a back-arc paleo-environmental setting.

Whilst more structurally complex than the nearby Hawiah gossans, mineralisation presents in a very similar style with strike-continuous and consistent gold values noted within the core of the gossan and copper mineralisation as malachite on the flanks. As with Hawiah, the malachite on the flanks of the gossan is considered likely related to re-mobilisation/ground water interactions with the copper-rich portions of the underlying ore body.

In anticipation of the granting of these Exploration Licences, G&M geologists have already been actively mapping and grab sampling the ground using the G&M Reconnaissance Licence and have now extended the strike of the gossanous horizon by approximately 1.2 kilometres to the southeast (see Figure 2 in the attached appendix).

Early sampling has been very positive with results confirming the work performed by the BRGM with grades of up to 7.2 g/t Au recorded in the gossans. Grab samples have consistently returned gold grades akin to the main Hawiah gossans, and with high copper values related to the secondary malachite. Highlights of these grab samples are listed below:

Sample IDSiteRock TypeAu g/tAg g/tCu %Zn %
GSR1021Al GodeyerFoliated gossan7.
GSR1001Al GodeyerMassive gossan3.
GSR1070Al GodeyerMassive gossan3.
GSR1015Al GodeyerBrecciated gossan2.
GSR999Al GodeyerMassive gossan2.
GSR259Al GodeyerMassive gossan2.
GSR1055Al GodeyerMassive gossan2.
GSR1054Al GodeyerMassive gossan2.
GSR1000Al GodeyerMassive gossan2.
GSR1056Al GodeyerMassive and Foliated gossan1.
GSR1019Al GodeyerMassive gossan1.
GSR257Al GodeyerMassive gossan1.
GSR1052Al GodeyerMassive gossan1.
GSR1072Al GodeyerMassive gossan1.
GSR1074Al GodeyerMassive gossan1.

Exploration strategy

Due to the proximity to Hawiah, G&M will proceed with an aggressive exploration strategy and if drilling is successful, aim to complete a maiden MRE by Q4 2022. This would allow any delineated material on the AG Licences to be incorporated into planning for the wider Hawiah project development.

The exploration approach and approximate anticipated timeline is outlined below:

–       Complete first pass mapping and sampling of SE extension area (Q4 2021)

–       Trenching to confirm surface continuity of main gossans and SE extension areas. (Q1 2022)

–       Self-potential geophysics to define the sub-surface continuity of the SE extension (Q1 2022)

–     Scout Drilling – 1,500m of diamond drill hole (DDH) drilling to confirm mineralisation style and grades – Q1/Q2 2022

–       Infill drilling for Resource definition – Q2/Q3 2022

–       Mineral Resource Estimation – Q4 2022

Harry Anagnostaras-Adams, Executive Chairman of KEFI Gold and Copper, commented:

“The Hawiah project already appears to be a robust standalone development proposition. However, it has always been our opinion that Hawiah is greater than just one deposit, instead we believe it will prove to be a district of VMS deposits. G&M have already identified multiple VMS targets in the surrounding Hawiah area, and today’s announcement marks the first step in expanding a single project at Hawiah into a mining district of complementary deposits. Shared infrastructure between the projects will leverage the value of each one and reinforce the overall development strategy.

“These new licences, plus the imminent December Hawiah MRE, reinforce the established position of KEFI in Saudi Arabia as a leading explorer and developer. 2022 is set to be a very positive and busy year for the joint-venture with the expected delivery of the PFS and further resource growth at Hawiah, as well as the start of additional regional projects. Furthermore, based on discussions with the regulatory authorities in the current quarter, we also now anticipate progress of the Jibal Qutman Gold mining licence, our first discovery in Saudi Arabia with an existing resource in excess of 700,000 ounces of gold.

“I look forward to providing further updates on both our operations in Saudi Arabia and also Ethiopia, where the political situation continues to improve and good progress is being made with respect to finalising the funding for the launch of the Tulu Kapi project development.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin
KEFI Gold and Copper

More articles like this

KEFI Gold and Copper

KEFI Gold and Copper issued two Jibal Qutman Exploration Licences

·    Two Exploration Licences issued to facilitate development of the Jibal Qutman Gold Project ·    Award of final Jibal Qutman Exploration Licence expected shortly ·    DFS for Initial 500,000 oz gold development Q1 2023, first production 2024 KEFI Gold and Copper

KEFI Gold and Copper

Gold edges higher on softer dollar

Gold prices held firm on Tuesday near a two-week high hit in the previous session, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve’s interest rate hike path.

KEFI Gold and Copper

Copper prices increase on weaker dollar

Copper prices rose on Tuesday on a weaker dollar and expectations for better metals demand after Chinese policymakers said they would accelerate infrastructure investment. Three-month copper on the London Metal Exchange CMCU3 rose 0.7% to $7,707 a tonne

KEFI Gold and Copper

Top 10 uses of copper

While gold and silver are irrefutably the most well-known of the 95 metals in the Periodic Table of Elements, to metallurgists and metal connoisseurs, they are nothing out of the ordinary. The real icon in the world of

KEFI Gold and Copper

Gold prices post first gain in 7 sessions

Gold prices finished higher on Tuesday for the first time in seven sessions, with a pullback in the U.S. dollar helping to put an end to the yellow metal’s longest losing streak since early July. Silver prices also climbed

KEFI Gold and Copper

Kefi reports further licensing progress in Saudi Arabia

Ethiopia and Saudi Arabia-focussed gold and copper explorer and developer KEFI announced positive licensing progress on the Jibal Qutman project on Wednesday, as well as the award of two further exploration licences through its Gold and Minerals (G&M) joint venture

KEFI Gold and Copper

KEFI Gold and Copper rapidly expanding its resource base

KEFI Gold and Copper plc (LON:KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has provided an operational update on the activities of KEFI Minerals

KEFI Gold and Copper

China tensions push gold to a new 1-month peak

Gold prices climbed over 1% to hit a fresh one-month peak on Thursday, underpinned by a retreat in the dollar and U.S. Treasury yields, as investors kept a close tab on U.S.-China tensions. Spot gold rose 1.6% to

KEFI Gold and Copper

Gold prices extend gains

Gold rose for fifth straight session on Tuesday to its highest level in about a month as Sino-U.S. tensions and fears of a possible recession burnished the metal’s safe-haven appeal. Spot gold was up 0.3% at $1,777.79 per ounce by

KEFI Gold and Copper

Gold prices extended gains

Gold prices extended gains on Thursday, as the U.S. dollar and Treasury yields fell after the Federal Reserve raised interest rates by 75 basis points as expected and its chairman sounded less hawkish on future hikes. Spot gold was

KEFI Gold and Copper

Gold price recovers from its 15-month low overseas

Gold price which jolted the previous day to levels below $1700 and hit 11-month low witnessed some resilience and rebounded to $1717.8 per ounce as of writing this copy at 12:19 pm (IST). Though it is still trading

KEFI Gold and Copper

Gold climbs as dollar softens

Gold prices rose on Monday, helped by a slight pullback in the US dollar and as investors dialled down bets of a 100-basis-point interest rate hike by the Federal Reserve this month. Spot gold had climbed 0.4% to

No more posts to show