Saudi Arabian mining company Maaden announced the discovery of multiple gold deposits south of its existing Mansourah Massarah mine that may potentially lead to expansion of gold production in the region.
According to Reuters, samples taken indicated the presence of high grade gold deposits of 10.4 grams per tonne (g/t) gold and 20.6 g/t gold in two random drilling sites 400 meters from and under Mansourah Massarah.
Maaden said in a statement that the finds, along a 100 kilometre strip, were the first from an exploration programme launched in 2022. In light of these results, Maaden planned an "aggressive escalation of planned drilling activities" in 2024 around the existing gold mine.
Mansourah Massarah had gold resources of almost seven million ounces at year-end 2023 and nameplate production capacity of 250,000 ounces a year.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
