Maaden discovers gold, copper grades in 2 exploration areas

Saudi Arabian Mining Co. (Maaden) headquarter

Saudi Arabian Mining Co. (Maaden) announced the discovery of multiple intercepts of recoverable gold and copper grades in the exploration areas of Shayban.

The assay results so far indicate extensive intersections of gold mineralization at Wadi Al Jaww and gold and copper mineralization at Jabal Shayban, the company said in a statement to Tadawul.

 

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Mineralization at both sites was at shallow depths ranging from 20 to 200 meters, with the mineralization extending deeper and in all directions.
The exploration project is still in its early stages, Maaden said, adding that it is still developing and deepening its understanding of the mineralized zone. The company stated that it does not yet have sufficient information to estimate the volume and quality of mineralization or mineral resources.
Work is currently underway to assess and interpret the data available so far to guide the drilling activities that will be carried out in 2025.
 
In a separate statement, Maaden said the drilling programs at its flagship Mansourah-Massarah gold mine showed a strong gold mineralization under the current drilling zone.
 
This highlights future mining opportunities in the mine.
 
The latest results show significant intersections of high-grade mineralization outside the previously modelled mineralization domains, at depths of up to 220 meters below the deepest part of the current open pit mine.
 
The financial impact of this discovery has not yet been ascertained, the mining major said, reaffirming its commitment to disclosing any significant events or developments when they become available.

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