Saudi Arabia Unveils Major Gold Discoveries, Aims for Mining Expansion.

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Saudi Arabia recently unveiled a substantial gold find within the Kingdom, located around 100 kilometers south of the operational Mansourah Massarah gold mine in Al Khurmah governorate, Makkah region. The Saudi Arabian Mining Company (Maaden) reported multiple gold deposits, signaling a potential expansion in gold mining within the region. This discovery is the result of Maaden’s robust exploration initiative initiated in 2022 to establish a comprehensive metal production line.

Exploration efforts at Uruq South, mirroring the geological traits of the Mansourah Massarah deposit, yielded promising drill results with high-grade gold deposits, reaching 10.4 grams per ton (g/t) and 20.6 g/t in samples from specific drilling sites near Mansourah Massarah. Responding to these findings, Maaden intends to bolster drilling activities around Mansourah Massarah in 2024.

Furthermore, Maaden is exploring prospects at Jabal al-Ghadara and Bir al-Tawila, 25 km north of Mansourah Massarah, unveiling a potential 125 km gold belt in Saudi Arabia. Proximity drilling near Mansourah Massarah suggests an open resource along its strike and depth, hinting at significant potential for resource expansion and potential mine life extension through underground development.

Mansourah Massarah reported holding nearly seven million ounces of gold in reserves by the end of 2023, boasting an annual production capacity of 250,000 ounces. CEO Robert Wil underscored the pivotal role of these discoveries, envisioning their potential to become the focal point of the world’s upcoming gold rush, aligning with Vision 2030’s objective to leverage Saudi Arabia’s untapped mineral resources and solidify mining as a cornerstone of the country’s economy.

Maaden, a major player in Saudi Arabia’s mining sector predominantly owned by the Public Investment Fund (PIF), stands as a prominent contributor to the Kingdom’s gold production. The advanced Mansourah Massarah gold mine, using cutting-edge technologies for mining, processing, and environmental sustainability, symbolizes Saudi Arabia’s commitment to pioneering mining advancements within the country.

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