Saudi Arabia announced discovery of large potential gold resources south of its existing Mansourah Massarah gold mine in Makkah region

Large prospective gold reserves were found 100 kilometres south of Saudi Arabia's current Mansourah Massarah gold mine in the Makkah region's Al Khurmah governorate, the country reported on Thursday.

The potential for expanding gold mining in the region was indicated by the many gold discoveries that the Saudi Arabian Mining Company (Maaden) reported discovering. In a statement, the massive mining corporation stated that this is the first find made as part of the company's large exploration programme, which was started in 2022 and seeks to construct a metal manufacturing line.

Positive drill findings from many locations on Uruq South, extending for 100 km south of Mansourah Massarah, have revealed similarities in geology and chemistry with the Mansourah Massarah deposit. A significant density of gold was discovered in the ore analysed from those areas. Samples examined revealed the presence of high-grade gold deposits of 10.4 grammes per tonne (g/t) and 20.6 g/t gold at two random drilling sites 400 metres from and under Mansourah Massarah. Maaden planned an aggressive expansion of scheduled drilling efforts in 2024 around Mansourah Massarah in light of these data.

Maaden is transferring 1.5 million ounces of inferred resources for measurement in the Jabal al-Ghadara and Bir al-Tawila prospects, which are located 25 km north of Mansourah Massarah. Maaden has been expanding its exploration footprint in these areas. Maaden has extended its exploratory reach to include potential in Bir Tawilah and Jabal Ghadarah, which are situated 25 km to the north of Mansourah Massarah. Together, these encouraging drilling findings have shown a prospective 125 km strike in Saudi Arabia that has the potential to develop into a huge, internationally renowned gold belt.

The resource is open at depth and along the strike, according to the results of near-mine drilling at Mansourah Massarah. This suggests that there is a great deal of opportunity to increase resources at the mine and perhaps prolong its life through underground expansion. As of the end of 2023, Mansourah Massarah has declared gold resources of about seven million ounces and a nameplate production capacity of two hundred fifty thousand ounces per year.

The Public Investment Fund (PIF), the largest miner in the Gulf and the sovereign wealth fund of the Kingdom, owns 67% of Maaden. It said in January 2023 that it would engage in foreign mining assets through Manara Minerals, a joint venture with PIF. Notably, Saudi Arabia's newest, biggest, and most technologically sophisticated gold mine is Mansourah Massarah. In 2022, it produced 11,982.84 ounces of gold.

The Mansourah Massarah deposits, which are being exploited as traditional open-pit mines, make up the mine. The factory uses autoclave technology, pressure oxidation, and carbon-in-leach processes to produce gold from ore. Modern mining, processing, and environmental sustainability technologies are employed at this mine.