Ma’aden announces significant gold discovery in Saudi Arabia

Ma'aden, a Saudi Arabian mining company, has disclosed a substantial gold resource potential extending for a distance of 100 kilometers from the established Mansourah Massarah gold mine.

Saudi Arabia's Gold Discovery

This discovery, part of Ma’aden’s exploration program initiated in 2022, holds promise for major economic growth and positions Saudi Arabia as a key player in the global gold industry.

Exploration Success and Economic Impact

The Mansourah Massarah mine was the focal point of the exploration campaign, which sought to locate similar-sized and geologically similar deposits. Multiple locations on Uruq South, south of Mansourah Massarah, showed positive drill results, indicating geological features similar to the current deposit. Core intercepts measuring 20 meters at 20.6 g/t Au and 61 meters at 10.4 g/t Au were among the high-grade drill intercepts found, suggesting a substantial amount of gold might be there.

Expansion Plans and a World-Class Gold Belt

Ma’aden has expanded exploration at Jabal Ghadarah and Bir Tawilah prospects, north of Mansourah Massarah, converting an inferred resource of 1.5 million ounces to indicated and measured status. These efforts have identified a potential 125-kilometer strike, hinting at the development of a major world-class gold belt in Saudi Arabia.

Mine Expansion and Economic Transformation

According to the near-mine drilling results, there is room for resource growth, and underground development might extend the mine life. The resource is open at depth and along the strike. Part of Ma'aden's plan to make mining Saudi Arabia's third economic pillar is Mansourah Massarah and its deposits of around seven million ounces of gold.

Vision 2030 and Future Prospects

In line with Vision 2030 for economic diversification, Robert Wilt, CEO of Ma'aden, highlighted the importance of these finds in unleashing Saudi Arabia’s mineral potential. More world-class finds are predicted to be made in the Arabian Shield, which is rich in potential. This will strengthen Ma'aden's position in defining the expansion and evolution of Saudi Arabia's mining sector and establish Saudi Arabia as a hub for the global gold rush.

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