Resource Minerals International has expanded its footprint in Saudi Arabia after exercising its option to acquire AuKing Mining’s joint venture interest.
The move follows the granting of the Shaib Marqan exploration licence, covering almost 92 square kilometres, and highly prospective for gold and base metals.
Early sampling has already returned high-grade gold results, including assays of up to 13.7 grams per tonne, with results from a larger follow-up sampling program now pending.
The licence grants RMI exploration rights for gold, silver, copper, tin and lead over an initial five-year term.
Geologists have already observed extensive quartz veins, sulphides and signs of historic mining across the project.
With funding in place, RMI now holds a 50% interest in the Saudi JV company, positioning it to capitalise on growing government support for exploration in the Kingdom.
Field exploration at Shaib Marqan is set to kick off in the fourth quarter of this year.
#ResourceMinerals #SaudiArabia #ShaibMarqan #GoldExploration #BaseMetals #Mining #ASX #JointVenture #AuKingMining #ExplorationLicence #QuartzVeins #HighGradeGold #Copper #Silver #Tin #Lead #Geology #MiningInvestment #SaudiMining #FieldExploration #Q4Exploration