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LONDON (Alliance News) - Kefi Minerals PLC, a gold exploration and development company, Tuesday said the results of a geophysical survey at its Hawiah site in Saudi Arabia appear to suggest the possibility of a large metal-bearing body at depth.
Kefi, which also has projects in Ethiopia, said the results have identified an intense self-potential anomaly with a continuous maxima of 350 millivolts at between 125m and 300m below surface, with an 800m strike length. It also said that a parallel self-potential anomaly, which shows "similar but less continuous intensity", has been identified 600m further east.
"The results support the interpretation of a large metal-rich body directly beneath the gold bearing mineralised system at surface. The anomalies identified to date will be further refined by more detailed geophysics to provide vertical depths to targets which will then be drill tested. We look forward to providing an update in due course," Jeff Rayner, exploration director, said in a statement.
Kefi has a 40% stake in Gold & Minerals LLC Ltd, the owner of the Hawiah project, which it operates.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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