Riyadh, Saudi Arabia – Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a significant milestone in their exploration efforts.
Initiated in 2022, the company’s exploration program led to discovery of a promising gold resource potential spanning across a 100-kilometer stretch from the existing Mansourah Massarah gold mine.
Through encouraging drill results at multiple Uruq South sites, situated along the southern extension of Mansourah Massarah, Maaden revealed geological similarities and chemical composition akin to the known Mansourah Massarah deposit. The results included high-grade drill intercepts found merely 400 meters away and underneath Mansourah Massarah, presenting several instances of high-grade intercepts.
Maaden expanded its exploration scope at Jabal Ghadarah and Bir Tawilah, prospects situated 25 kilometers north of Mansourah Massarah. The cumulative positive drilling outcomes have identified a potential 125-kilometer strike, suggesting the emergence of a substantial world-class gold belt in Saudi Arabia.
The near-mine drilling outcomes around Mansourah Massarah indicated the open nature of the resource at both depth and along the strike, showcasing significant potential for resource expansion at the mine and the possibility of extending its life through underground development.
As of year-end 2023, Mansourah Massarah boasted nearly seven million ounces of stated gold resources and a nameplate production capacity of 250,000 ounces annually.