Junior exploration company Ankh Resources is advancing a drill campaign at its Wadi Dara gold and copper mine in the Eastern Desert of Egypt.
The company aims to garner more institutional investor interest not just for its own project, but also for the whole Egypt as an attractive mining destination, Mining Weekly reported with a reference to Ankh’s presentation at the recently-concluded Investing in African Mining Indaba conference.
"We are committed to becoming a driving force behind the growth of Egypt’s mining industry and to becoming leaders in responsible mining practices. We intend to create a thriving, responsible mining operation aligned with national initiatives and global standards," Mining Weekly quoted Ankh Resources CEO Mostafa Talaat as saying.
The company is advancing a 40 000 m diamond and reverse circulation drill campaign at the Wadi Dara in 2026 and 2027, which comprises a 100 sq. km block prospective for gold and copper mineralisation.
The first three boreholes at the project have already shown significant results, notable interceptions include 11m of gold grading 1.93 g/t and 35m of copper grading 3.36%.
Ankh will publish a mineral resource estimate based on the results of the drill campaign, having spent about $8 million on exploration to date. Further exploration investments are expected to top $25 million within the next two years.
Numerous historical pits and slot workings are present at the Wadi Dara Prospect. The oldest workings are believed to date back to the Old Kingdom (2700–2200 BC), with evidence of subsequent activity during the Roman and Islamic periods, as well as current small-scale artisanal mining.
Theodor Lisovoy, Managing Editor, Rough&Polished
