KEFI Gold and Copper has reported that in-fill drilling at its Hawiah copper-gold project in Saudi Arabia has reinforced the site’s potential to host multiple Volcanogenic Massive Sulphide (VMS) deposits.
The company has completed over 50,000 meters of its 65,000-meter drilling program aimed at enhancing the existing 29.0 million tonnes Mineral Resource Estimate (MRE).
Recent drilling achievements include extending the vertical depth of mineralization at Hawiah to 740 meters and increasing the down-plunge length of the Crossroads Extension Lode by an additional 270 meters, according to a company statement.
Additionally, a second phase of drilling, totalling 4,500 meters, has begun at the nearby Al Godeyer deposit to infill and enlarge its initial MRE.
KEFI anticipates that this drilling will convert at least 90% of the combined MRE into the Indicated Resource category, which will serve as the foundation for establishing Ore Reserves.
Highlights
· At Hawiah, over 50,000m of the 65,000m infill drilling programme is complete in preparation for updating the existing 29.0Mt Mineral Resource Estimate (“MRE”) (see announcement on 9 January 2023), with results in-line with expectations as modelled.
· Recent drilling highlights include:
o HWD_222 intersecting 8.6m (7.5m ETW) of massive sulphide averaging 0.8% copper, 0.4% zinc, 0.5 g/t gold and 8.1g/t silver from 970.2m; and
o HWD_246 intersecting 9.3m (8.4m ETW) of massive sulphide averaging 0.7% copper, 1.0% zinc, 0.6 g/t gold and 10.2 g/t silver from 872.7m.
· These intercepts have extended the vertical depth of known mineralisation at Hawiah to 740m and increased the down-plunge extent of the Crossroads Extension Lode by a further 270m.
· At the satellite Al Godeyer deposit, a second phase of drilling comprising 4,500m has recently commenced to infill and expand its maiden MRE reported in 2023 (see announcement dated 3 April 2023).
· These two drilling programmes are on track to upgrade at least 90% of the >30 million tonne combined MRE to the Indicated Resource category, forming the basis for Ore Reserves.
· Earlier-stage exploration is also ongoing at other potential Hawiah satellite deposits, including at the recently announced Abu Salal discovery.
· Hawiah’s status as the third largest base-metal development project in the now burgeoning Saudi Arabian minerals sector has been reaffirmed by this highly successful exploration programme.
Harry Adams, the executive chairman of KEFI, stated: “Our exploration efforts adjacent to the Hawiah copper-gold-zinc-silver deposit have quickly delivered affirming results and led to two new discoveries.
“The Hawiah drilling project is now over 75% complete and is yielding solid confirmatory outcomes.
“Additionally, we are progressing with efforts to enhance and expand the resource at Al Godeyer (located 12km west of Hawiah) through diamond drilling.
“The recent discovery at Abu Salal has validated that the substantial Hawiah deposit is just the initial find in a potential series of deposits typical of this mineralization style, confirming our understanding of the regional geology and the genesis of these VMS deposits.”
KEFI noted that an updated resource estimate for Hawiah is expected by the end of 2024, following the current drilling timeline.
