KEFI’s JV awarded 5 additional exploration licenses in Saudi Arabia

KEFI’s JV awarded 5 additional exploration licenses in Saudi Arabia

UK-based gold and copper exploration and development company KEFI, which focuses on Ethiopia and Saudi Arabia, announced on Tuesday the award of five additional exploration licenses focussing on gold through the Company’s Gold and Minerals Limited (GMCO) joint venture in Saudi Arabia.

GMCO is owned 30 percent by KEFI and 70 percent by its partner Abdul Rahman Saad Al Rashid and Sons (ARTAR).

KEFI said in a press statement that:

• Five additional exploration licences Wadi Na’afa, Al Awja, Abu Salal North, Umm Al Khabath and Jabal Selm have been awarded on an initial five-year term

• The Exploration Licences host sites of ancient mineral mining, within prospective mineral belts

• Abu Salal North and Umm Al Khabath VMS [Volcanic Massive Sulphide] prospects lie within the Wadi Bidah Mineral Belt south of the Company’s Hawiah project

• Wadi Na’afa and Al Awja lie within the underexplored and only recently accessible Lorelon gold-silver-copper mineral belt, located within the southwestern portion of the Arabian Shield

•Jabal Selm is a quartz vein hosted gold prospect within the Al Miyah Mineral District

The statement said GMCO regional exploration team have begun comprehensive mapping and sampling campaigns over these new licences.

“The outcomes of this fieldwork will be to ground-truth historical data, assess the