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Saudi Arabia Discovers Potential Large High Grade Gold Deposits with an Estimated Gold Belt Length of 125km

Source: Xinhuanet 2024-01-09 11:13 http://www.mnw.cn/
Xinhua News Agency, Riyadh, January 8 (Reporter Hu Guanwang Haizhou) Saudi Arabia Mining Company recently announced that it has found a potential large high-grade gold mine within more than 100 kilometers of the existing Mansula Masala gold mine.

According to Saudi media reports, Saudi Arabia Mining Company explored the area 100 kilometers south of the Mansula Massara gold mine in the west of central Saudi Arabia and found geological structures and deposits similar to the gold mine. According to the company, two samples obtained by random drilling of strata near Massara Gold Mine in Mansula show that the gold content of each ton of samples is 10.4 g and 20.6 g respectively, indicating that there may be high-grade gold deposits, and the whole gold belt is expected to be 125 km long.

It is understood that the average grade of natural gold ore is 5 grams per ton. On January 8 local time, the gold futures price of February, the most actively traded gold futures market on the New York Mercantile Exchange, closed at 2033.5 dollars per ounce (about 28 grams per ounce).

Saudi Arabia Mining Company said in a statement that this is the first major discovery since the company launched a large-scale exploration program in 2022. The company will further increase its exploration activities near the Massara gold mine in Mansula this year.

Original title: Potential large high-grade gold deposit discovered in Saudi Arabia
Editor in charge: Zeng Shaolin
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