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

Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022
Why you should short this satellite broadband company
Trading

Why you should short this satellite broadband company

With an ill-considered business plan, satellite broadband company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022
Share tips of the week – 23 September
Share tips

Share tips of the week – 23 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Sep 2022
Momentum investing – and why price matters more than anything else
Investment strategy

Momentum investing – and why price matters more than anything else

The recent fashion for momentum investing, with investors piling into expensive growth stocks, is nothing new, says Merryn Somerset Webb. And the dang…
21 Sep 2022

Most Popular

Could gold be the basis for a new global currency?
Gold

Could gold be the basis for a new global currency?

Gold has always been the most reliable form of money. Now collaboration between China and Russia could lead to a new gold-backed means of exchange – g…
22 Sep 2022
Paypal, bitcoin, and the weaponisation of money
Bitcoin & crypto

Paypal, bitcoin, and the weaponisation of money

Recent events have shown how both business and governments can “weaponise” money and shut down dissent. What to do? Buy bitcoin, says Dominic Frisby.
22 Sep 2022
Why you should short this satellite broadband company
Trading

Why you should short this satellite broadband company

With an ill-considered business plan, satellite broadband company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022