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.

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

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021
House prices: from boom to even bigger boom
House prices

House prices: from boom to even bigger boom

UK house prices have risen to new to record highs, says Nicole Garcia Merida. Demand continues to outpace supply, but continued low interest rates, th…
9 Apr 2021