The Saudi Mining Company “Maaden” announced the potential discovery of large quantities of gold resources extending 100 kilometers south of the current Mansoura and Masara gold mines. This discovery represents the first within the extensive exploration program that the company began in 2022, which aims to develop and expand mineral production lines.
Ma'aden Company reported in a press statement that the results of exploration in several sites south of Al-Uruq and along a 100-kilometre length south of the Mansoura and Masra mines showed the presence of geological and chemical characteristics similar to those found in the deposits of the two aforementioned mines.
The Saudi company stated that the recent discoveries included high-quality drilling intersections 400 meters away from the Mansoura and Masra mines, at different depths. High-quality deposits were also found, including basic extracts that showed the presence of 61 meters with an average concentration of 10.4 grams/ton of gold and 20 meters with an average concentration of 20.6 grams/ton.
Ma’aden is expanding the scope of its exploration work in the areas of Jabal Al-Ghadara and Bir Al-Tawila, which are located 25 kilometers north of the Mansoura and Massara mines. The company is in the process of converting approximately 1.5 million ounces of inferred resources for rigorous evaluation.
In addition, positive exploration results have shown that the area, which extends over 125 kilometres, has great potential to be a major world-class gold belt in the Kingdom of Saudi Arabia. Discoveries near Mansoura and Masara indicate the presence of valuable resources at depth and throughout the region, which promises abundant wealth and the possibility of increasing the life of the mine through underground development.
Robert Wilt, CEO of Ma'aden, said that the company began one of the largest exploration programs in the world last year. He stressed that these discoveries are evidence of the great and untapped potential of mineral resources in the Kingdom of Saudi Arabia.
Ma'aden's CEO added that the discovery of the new gold-rich region represents a strong incentive to stimulate the global gold fever, and constitutes an essential part of the company's growth strategy
