KEFI Gold and Copper Plc (LON:KEFI), the gold and copper exploration and development company which has focused on the Arabian-Nubian Shield since 2008, has provided confirmation of a new discovery, as well as an operational update, in respect of the Jibal Qutman Gold Project in Saudi Arabia in the Company’s minority-owned Gold & Minerals Ltd joint venture.
Highlights
· Satellite deposit (Asfingia) discovered with excellent grades of up to 66.6g/t gold
· Drilling ongoing on identified 35km mineralised strike across three contiguous licences
· Selection of preferred production start-up plan expected by mid-2024
Key Points
· Having completed the 13,000m in-fill drilling programme in Q3-2023, GMCO switched to resource expansion drilling which quickly led to the discovery of the Asfingia satellite deposit. Asfingia drilling results include:
o JQD_232: 13.9m (12.7m estimated true width (“ETW”) at 7.9 g/t gold from 53.6m (including 1.2m at 66.6 g/t gold).
