Kefi Minerals discovers gold mineralisation in Western Zone of Jibal Outman
AIM-listed gold and copper exploration company KEFI Minerals, has discovered new shear zone hosted gold mineralisation in the Western Zone at Jibal Qutman.
AIM-listed gold and copper exploration company KEFI Minerals, has discovered new shear zone hosted gold mineralisation in the Western Zone at Jibal Qutman.
The company published an operational update on its trench channel sampling and drilling results from its second drilling programme at the Jibal Qutman Licence and the second phase drilling at the Selib North Licence, in the Kingdom of Saudi Arabia.
The company, which is the operator for both projects under the company's 40%-owned Gold & Minerals Joint Venture, reported that reverse circulation drilling, targeted to extend the resource at Jibal Qutman, returned encouraging intersections.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Trench channel sampling results at Jibal Qutman returned "impressive
intersections", the company added.
Jeff Rayner, Managing Director of KEFI Minerals, commented: "The results of the on-going reverse circulation drilling and trenching at Jibal Qutman continue to increase the size of the mineralised system. We are very excited about the potential to develop a significant resource in the region and once more the drilling results have vindicated our team's efforts.
"Our drilling is continuing to find more gold and we have yet to close off the mineralisation along strike of any of the drilled areas. Additional drilling capacity is being sought to step up the work rate at Jibal Qutman with the continued focus on moving towards a pre-feasibility study."
Kefi Minerals share price was down 1.69% to 2.90p at 09:30 on Friday.
MF
-
State pension errors: DWP urged to check for mistakes among divorced people
Former pensions minister Steve Webb says there are a high number of divorced women on low state pensions. Now MPs want the DWP to check if there were any errors in “potentially underpaying men and women who are divorced”.
By Ruth Emery Published
-
Buyers need to earn £20k above average UK salary to afford sold house prices, Go.Compare finds
News The average UK salary is £20k too low to afford the country's typical house price - we look at just how much you need to earn to step onto the property ladder in the UK
By Henry Sandercock Published