Activists on social media shared the announcement from Saudi Arabian Mining Company "Ma’aden" regarding the discovery of a potential gold site in the Kingdom that spans 100 kilometers, which has generated significant reactions. This was stated in a release from the government company, mentioning: "A potential discovery of significant gold resource potential extending along 100 kilometers from the current Mansourah and Masarah gold mine. This is the first discovery under the intensive exploration program at Ma’aden launched in 2022, aimed at establishing a Ma’aden production line."
"Our efforts today at #Maaden resulted in the discovery of a major gold belt on a global scale in the Kingdom after launching one of the largest exploration programs worldwide in 2022. This historic moment reaffirms our commitment to discovering the Kingdom's mineral resources and diversifying the national economy," the company tweeted.
The statement continued: "The exploration around Mansourah and Masarah focuses on identifying potential deposits and similar geological formations. Encouraging results uncovered during drilling at multiple sites south of the veins along the 100 kilometers south of the Mansourah and Masarah mine revealed geological and chemical characteristics similar to those in the mine. These results include high-quality drill intersections located 400 meters from Mansourah and Masarah at depth, with several high-quality deposits, including core assays showing 61 meters at a grade of 10.4 grams per ton of gold and 20 meters at a grade of 20.6 grams per ton."
Additionally, Ma’aden continued to expand its exploratory footprint in the Al-Ghadriah mountains and Bir Al-Tawilah, located 25 km north of Mansourah and Masarah, where the company is converting indicated resources of 1.5 million ounces to measured resources.
The company added: "The combined positive results from drilling identified a potential area stretching 125 km with significant expectations for it to become a major gold belt on a global scale in Saudi Arabia. The close-range drilling results around Mansourah and Masarah suggest that resources are available at depth and along the zone, indicating an abundance of wealth in the mine, with the potential to extend the mine's life through underground development. It is noted that the gold resource at Mansourah and Masarah amounts to approximately seven million ounces as of the end of 2023, with a production capacity of 250,000 ounces annually."
