KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said initial exploration at Al Godeyer in Saudi Arabia has confirmed similar copper-gold mineralisation to that of the nearby Hawiah volcanic massive sulphide deposit.
Trenching, geophysics and initial drilling have indicated good continuity of the mineralised horizon with rock chip sampling indicating gold mineralisation of up to 7.2 grams per tonne (g/t) gold and 1.8% copper.
Efforts are now focused on delivering an initial JORC Mineral Resource during 2022, KEFI added.
Any resources would likely contribute directly to the proximal Hawiah project, which is a joint venture with the Saudi state mining group.
Harry Adams, KEFI’s executive chairman, added: "The Al Godeyer licences were granted in late 2021 and the exploration team has already successfully demonstrated the continuity of the mapped gossans through trenching and geophysics and have advanced the project to drill testing in a little over three months.
“This highlights the clear potential that Al Godeyer has as a satellite deposit in supporting the Hawiah development.
"Elsewhere, we continue to make good progress in Ethiopia on the 1.7mln ounce Tulu Kapi Gold Project, which remains on track for mid-2022 launch as recently announced.”