Five further exploration licenses have been granted to KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) through the Company’s Saudi Arabian joint venture, Gold and Minerals Limited.
The Wadi Na’afa, Al Awja, Abu Salal North, Umm Al Khabath, and Jabal Selm licenses, which are all located within potential mineral belts and host areas of historic mineral mining, were all granted on an initial five-year tenure.
South of the company’s Hawiah project, in the Wadi Bidah Mineral Belt, are the volcanic massive sulphide possibilities of Abu Salal North and Umm Al Khabath.
The underexplored and just lately accessible Lorelon gold-silver-copper mining belt is situated in the southwest region of the Arabian Shield, where Wadi Na’afa and Al Awja are located.
“We are thrilled to have been awarded these five additional exploration licences in Saudi Arabia to further broaden the KEFI GMCO portfolio given our rapidly progressing gold projects in Ethiopia and Saudi Arabia, where we are aiming for steady-state production from 2025, said Harry Anagnostaras-Adams, executive chairman of KEFI.
“We are eager to strengthen our position in the rapidly developing Saudi mining industry and seize new possibilities as they arise as early adopters in Saudi Arabia with a world-class staff.