KEFI Gold and Copper PLC said in-fill drilling at the Hawiah copper-gold project in Saudi Arabia had confirmed the potential for a cluster of VMS deposits.
Over 50,000m of the 65,000m infill drilling programme (to upgrade the existing 29.0Mt Mineral Resource Estimate) is complete, KEFI added.
Recent 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, said a statement.
At the satellite Al Godeyer deposit, a second phase of drilling comprising 4,500m has recently commenced to infill and expand its maiden MRE
KEFI expects the drilling to convert at least 90% of the combined MRE to the Indicated Resource category, forming the basis for Ore Reserves.
.Harry Adams, KEFI's executive chairman, said: "Exploration near our Hawiah copper-gold-zinc-silver deposit has quickly yielded validating results and unveiled two additional discoveries.
“The 65,000m Hawiah infill and expansion drilling programme is now more than 75% complete, with excellent confirmatory results.
“GMCO is also focused on upgrading and expanding the Al Godeyer resource (12km west of Hawiah) through diamond drilling.
"The recent Abu Salal discovery has confirmed that the large Hawiah deposit itself is only the first in a cluster of deposits as often occurs with this style of mineralisation and has confirmed proof of concept in our understanding of regional geology and genesis of this style of VMS deposits.”
An upgrade to the Hawiah resource is expected late in 2024 based on the current drilling schedule, KEFI added.