Saudi Arabia Ma'aden Unveils Significant Gold Discovery
Located one hundred kilometers apart from the current Mansourah Massarah gold mine, the Saudi Arabian mining behemoth Ma'aden has revealed a large gold resource potential.
This finding highlights the potential for economic growth and establishes Saudi Arabia as a prominent participant in the world gold industry. It is a component of Ma'aden's extensive 2022 exploration project.
Exploration and Economic Implications
The Mansourah Massarah mine served as the focal point for the exploration campaign, aiming to identify deposits of similar size and geology. Positive drill results at multiple locations on Uruq South, south of Mansourah Massarah, revealed geological characteristics akin to the current deposit. High-grade drill intercepts, including 20 meters at 20.6 g/t Au and 61 meters at 10.4 g/t Au, indicate a significant gold presence.
Expansion Strategies and the Emergence of a World-Class Gold Belt
Ma'aden extended exploration to the Jabal Ghadarah and Bir Tawilah prospects, bringing the 1.5 million-ounce inferred resource to indicated and measured status. A possible 125-kilometer strike was located as a result of these endeavors, suggesting that Saudi Arabia would soon be home to a world-class gold belt.
Mine Growth and Economic Transformation
The results of the near-mine drilling indicate that there is room to expand the resources and that underground development might potentially prolong the mine life. Approximately seven million ounces of gold are housed at Mansourah Massarah, which is a component of Ma'aden's plan to position Saudi Arabia as an economic powerhouse in the mining sector.
Vision 2030 and Future Outlook
Aligned with Vision 2030 for economic diversification, Ma'aden's CEO, Robert Wilt, emphasized the significance of these discoveries in unlocking Saudi Arabia’s mineral potential. Anticipated world-class finds in the mineral-rich Arabian Shield will fortify Ma'aden's role in shaping the expansion and evolution of Saudi Arabia's mining sector, establishing the nation as a focal point for the global gold rush.
