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.
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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.
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