5th Oct 2015 09:44
LONDON (Alliance News) - KEFI Minerals PLC on Monday said it has made progress on the Jibal Qutman Project in Saudi Arabia, with additional areas of gold mineralisation identified at the site.
KEFI, which also has a project in Ethiopia, said around 75% of the infill drilling programme for the project has been completed and metallurgical testing on the oxide mineralisation from four potential open cut areas has also been finished.
Gold recoveries on the four potential areas range from 70% to 75%, with a weighted average of 73%, the company said. The recoveries are a slight improvement on the earlier test work conducted at the project, with an average estimated recovery of 69%.
Drilling is ongoing at the project and the company will soon transfer its primary drilling focus to Hawiah from Jibal Qutman in Saudi Arabia.
"We are pleased to report that the oxide heap leach project at Jibal Qutman continues to deliver positive results and is progressing towards applying for regulatory permits for a low-capex development," said Jeff Rayner, KEFI's Exploration Director.
Shares in KEFI were untraded on Monday, having last traded at 0.450 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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