KEFI Gold and Copper (KEFI)

Sector:

Mining

Index:

FTSE AIM All-Share

1.83p
   
  • Change Today:
    -0.046p
  • 52 Week High: 2.62
  • 52 Week Low: 0.87
  • Currency: UK Pounds
  • Shares Issued: 2,152.93m
  • Volume: 4,325,954
  • Market Cap: £39.40m

KEFI Minerals reports latest drilling findings from Hawiah

By Josh White

Date: Wednesday 23 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Gold exploration and development company KEFI Minerals reported on Wednesday that, following the start of drilling activities at its Hawiah Exploration Licence in Saudi Arabia, the first drill hole - HWD 001 - has intercepted a 15.8 metre interval of massive sulphide at a vertical depth of 125 metres.
The AIM-traded firm said the mineralisation encountered presented dominantly as pyrite and chalcopyrite - a principal ore for copper - and minor bornite, with associated alteration and lithology consistent with that of a volcanic massive sulphide (VMS) system.

It said assay results were pending for the hole, and would be reported in due course.

The initial intersection confirmed that VMS mineralisation was the source of the previously-reported 5.5 kilometre-long geophysical anomaly, and that the mineralisation was copper bearing, the KEFI board explained.

It said that built on the previous exploration work that demonstrated that the Hawiah ridgeline was enriched in gold at surface, with "abundant" secondary copper showings.

Geophysical surveys identified a "strong and continuous" anomaly under the ridge, that remained open both along strike and down dip, it added.

KEFI said the drill intersection marked the successful start to the diamond drilling programme and added further strength to the geological model as developed by its joint venture exploration team.

That model described the Hawiah ridgeline as the oxidised surface expression of an extensive VMS system, that hosted enriched gold mineralisation within the oxide portion and copper-bearing massive sulphide mineralisation below that depth.

The diamond drilling programme was designed to test that geological model, and the geometry of both the near-surface oxide gold mineralisation and massive sulphide copper target at depth, KEFI said.

Drill spacing was set at around 250 metre intervals, with holes designed to test those targets over a strike of 1.5 kilometres.

KEFI is the operating partner of Gold and Minerals - the joint venture company with its partner, Saudi conglomerate ARTAR.

"We are very pleased with this result straightaway with our first drill hole at the large Hawiah target," said KEFI Minerals executive chairman Harry Anagnostaras-Adams.

"This first drill intercept of massive sulphide confirms our exploration model and reinforces our confidence in the area's high prospectivity for gold and copper."

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KEFI Market Data

Currency UK Pounds
Share Price 1.83p
Change Today -0.046p
% Change -2.45 %
52 Week High 2.62
52 Week Low 0.87
Volume 4,325,954
Shares Issued 2,152.93m
Market Cap £39.40m

KEFI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
19.42% above the market average19.42% above the market average19.42% above the market average19.42% above the market average19.42% above the market average
58.68% above the sector average58.68% above the sector average58.68% above the sector average58.68% above the sector average58.68% above the sector average
Price Trend
32.66% above the market average32.66% above the market average32.66% above the market average32.66% above the market average32.66% above the market average
27.69% above the sector average27.69% above the sector average27.69% above the sector average27.69% above the sector average27.69% above the sector average
Income Not Available
Growth Not Available

KEFI Dividends

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KEFI Key Personnel

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