New Gold reserves discovered in Makkah region

New Gold reserves discovered in Makkah region

 

Saudi Arabia announced that it had found big gold resources 100 km south of its existing Mansourah Massarah gold mine in the Al Khurmah governorate in the Makkah region. Most Viewed Video : Average salary in Saudi Arabia for Expats and Saudi citizens

The Saudi Arabian Mining Company (Maaden) said it had found several gold reserves, which means that gold mining could grow in the area. In a statement, the mining giant said that this is the first find as part of its extensive research program, which began in the year 2022 with the goal of building a metal production line.

– Drilling at several locations on Uruq South, along a 100 km stretch south of Mansourah Massarah, has found rocks and chemicals that are similar to those in the Mansourah Massarah deposit. There were high-grade gold deposits with 10.4 grams per ton (g/t) gold and 20.6 g/t gold found in two random drilling sites 400 meters from and under Mansourah Massarah.

– This means that the ore tested from those areas had a high gold density. Because of these results, Maaden planned to step up the drilling operations around Mansourah Massarah in the year 2024 in a big way. Recommend : Madina Municipality launches Bicycle Lanes of 70km as part of Healthy living and sports

– In the Jabal al-Ghadara and Bir al-Tawila prospects, 25 km north of Mansourah Massarah, Maaden has continued to grow its drilling footprint. The company is now sending 1.5 million ounces of estimated resources to be measured. The exploring area of Maaden has grown at the Jabal Ghadarah and Bir Tawilah prospects, which are 25 km north of Mansourah Massarah. Together, these good drilling results have found a possible 125 km strike that has a lot of promise to become Saudi Arabia’s major world-class gold belt.

– The results of the near-mine drilling around Mansourah Massarah show that the resource is open both at depth and along the strike. This means that there is a lot of possibility to increase resources at the mine and maybe even make the mine last longer by developing underground. Mansourah Massarah said that the mine had gold possibilities of almost seven million ounces by the end of the year 2023 and a production capacity of two hundred fifty thousand ounces per year.

– Bob Wilt, CEO of Maaden, said that these finds could be the start of the next gold rush around the world and are a key part of our growth plan. He said, “These discoveries are a major sign of the untapped potential of mineral resources in Saudi Arabia. They support the country’s diversification in line with Saudi Vision 2030 and make mining the third pillar of the Saudi economy.” Trending : Treasures buried in Saudi Arabia

– The Public Investment Fund (PIF), which is the wealth fund of the Kingdom and the biggest miner in the Gulf, owns 67% of Maaden. In January 2023, it said that Manara Minerals, a joint company with PIF, would buy mining assets in other countries.

– It is interesting to note that Mansourah Massarah is Saudi Arabia’s newest, biggest, and most high-tech gold mine. In the year 2022, it extracted 11,982.84 ounces of gold.

– The Mansourah Massarah minerals are what the mine is made of, and they are being developed as normal open-pit mines. For making gold from rock, the plant uses the Carbon-In-Leach Process, the Pressure Oxidation Process, and autoclave technology. Cutting edge methods for mining, processing, and protecting the environment are used in this mine. Join Saudi Expatriates WhatsApp channel

 

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