KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it expects a new mineral resource estimate (MRE) for the Jibal Qutman gold project in Saudi Arabia to be published this quarter, incorporating recent discoveries at Asfingia and Red Hill 2.
At Hawiah, also in Saudi, the final stages of a 65,000-metre infill drilling programme are underway, with an update to the MRE expected by year-end 2024.
KEFI’s interests in Saudi are held through 25% owned joint venture GMCO.
Harry Adams, executive chairman, commented: "In Saudi Arabia, we have made two significant discoveries which, in aggregate gold-equivalent terms, are approximately double the in-situ metal of Tulu Kapi in Ethiopia.
“Whilst feasibility studies are refined and focused for completion on Jibal Qutman Gold and Hawiah Copper-Gold, GMCO's regional exploration effort is being re-elevated to expand and optimise our project pipeline within the Kingdom.
"Furthermore, as already reported this quarter, we remain on track in Ethiopia at Tulu Kapi, our most advanced project.”