19th Aug 2020 10:57
(Alliance News) - Kefi Gold & Copper PLC on Wednesday reported a first ever mineral resource estimate at its Hawiah asset in Saudi Arabia.
The inferred estimate forecasts 19.3 million tonnes at 0.9% copper, 0.8% zinc, 0.6 grammes per tonne of gold and just over 10 grammes per tonne of silver.
"This maiden copper-zinc-gold-silver mineral resource is consistent with the guidance issued over the past few months and demonstrates the significant scale and quality of the Hawiah deposit.
Despite a number of challenges brought on by the Covid-19 pandemic, our team has been able to deliver this initial resource less than a year after drilling commenced at Hawiah," Executive Chair
Harry Anagnostaras-Adams said.
"The Hawiah deposit remains open and further drilling has the potential to result in a larger mineral resource in due course. We are particularly keen to test for depth extensions of the identified higher-grade zones."
On Tuesday, the company completed its name change from Kefi Minerals PLC.
Kefi shares were 2.4% lower at 1.86 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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