Harry Anagnostaras-Adams, Executive Chairman, KEFI Minerals plc (KEFI.L)
May 28, 2020
KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, announces that at its General Meeting held earlier today, all resolutions were duly passed.
Hawiah Exploration Update
Commenting, Harry Anagnostaras-Adams, Executive Chairman of KEFI, said:
"We are very pleased with the results to date of the drilling at our copper-gold-zinc-silver discovery at Hawiah in Saudi Arabia. Hawiah already appears to have a more valuable metal content than Tulu Kapi in Ethiopia as we have only drilled the top of the system, which remains open at depth below all zones drilled to date.
"The rapid pace of progress since completing the first drill hole in October 2019 is testament to our excellent team at G&M, managed by KEFI and tightly integrating the specialist personnel contributed by KEFI and our Saudi Arabian partner ARTAR."
KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide an update on the ongoing exploration programme at the Company's Hawiah exploration project in Saudi Arabia. KEFI's operations in Saudi Arabia are conducted through its 34% owned joint venture company, Gold and Minerals Co. Limited ("G&M"), where KEFI is the operating partner.
G&M has now completed Stage 2 of the Hawiah diamond drilling programme, increasing the number of completed diamond drill holes to 69 since the first drill hole in October 2019.
Copper-zinc-gold-silver sulphide mineralisation has been intercepted in drilling consistently over more than 4km of strike length, with intercepts within the supergene zone of up to 4.4% Copper over a 6m true width interval, including 5.8% Copper over a 3m true width. The results re-affirm the large-scale Volcanic Massive Sulphide ("VMS") style of mineralisation that underlies the +4km long surface gossanous ridgeline. Assays have been received for 59 of the 69 drill holes and confirm the positive progress towards delineating an initial Mineral Resource in accordance with the JORC Code in mid-2020.
Sufficient drilling has now been completed to identify three zones with the following preliminary parameters for potentially mineable massive sulphide lodes, with all zones remaining open at depth