Hawiah is located in Saudi Arabia’s Wadi Bidah Mineral District which is a 120-kilometre-long copper-gold-zinc volcanogenic massive sulphide (“VMS”) belt where over 24 VMS occurrences were defined by the US Geological Survey and French Geological Survey(“BRGM”)over many years of research.Our joint venture holds a dominant position on this ground.
Field work has commenced with a modest cost but potentially high-impact induced polarisation and resistivity (“IP/Rho”) geophysical survey aimed at better defining the large VMS target for drilling. This survey follows the previous self-potential(“SP”)geophysical survey that identified two strong anomalies under the main six kilometre-long gossan.
Modelling of these geophysical survey results should provide a robust interpretation of the geometry of any possible sulphide mineralisation allowing for a more accurate drill design and targeting.
A follow-up trenching programme is planned to commence following completion of this geophysical survey. The trenching will enable targeted collection of samples from the area above the second untested eastern SP anomaly, allowing a geochemical signature to be defined to further refine drill targeting within the apparently large structure.
Based on refined drilling targets flowing from this work programme, aninitial 2,500 metre diamond scout drilling programme is planned to commence duringQ3 2019.
This exploration programme marks the resumption of exploration at Hawiah after two years, following the resolution of local access issues, regulatory overhauls and subsequent licence renewal.
KEFI is the operating partner of Gold & Minerals Limited, the joint venture company in which the Company’s shareholding is 40%. The other 60% is owned by the Company’s long-standing partner, Saudi conglomerate ARTAR. Each party funds its share of the work programme on a pro rata basis.
Commenting KEFI and TKGM Chairman, Mr Harry Anagnostaras-Adams, said, “We are pleased that exploration is progressing again at Hawiah in Saudi Arabia and is planned to culminate in drilling this exciting prospect in Q3 2019.”Hawiah has all the hallmarks of a significant copper-gold-zinc VMS deposit, which are typically quite valuable.
“Our targeted exploration programme has been steadily working towards drilling Hawiah and our team is confident that the odds of making a significant discovery are relatively high. We look forward to providing further updates as this exploration programme progresses alongside our flagship Tulu Kapi Gold Project in Ethiopia.”
Source: Company Press Release
