Saudi Arabia discovers new gold 🧈 reserves

Saudi Arabian Mining Company (Maaden) found significant gold resources 100km south of Mansoura and Masara gold mines.

Even before this discovery, Saudi Arabia is ranked at number 14 among the top countries with the highest gold reserves.

The company announced its first mineral discovery as a result of its 2022 exploration program, leading to the development of a new production line.

Maaden is exploring the Mansoura and Masara areas to find mineral deposits similar to those in nearby sites south of Uruq. The geological and chemical characteristics of these areas match those in the mine deposits.

High-quality drill intersections were found 400 meters away from Mansoura and Masra. Deposits include core extracts of 61 meters at 10.4 g/t gold and 20 meters at 20.6 g/t gold.

Ma’aden expanded exploration in Jabal Ghadarah and Bir Tawil, transferring 1.5 million ounces of resources, 25 km north of Mansoura and Masara.

A 125 km potential gold mining area was identified in Saudi Arabia based on positive exploration results. It is expected to meet international standards and become a major gold belt.

Exploration near Mansoura and Masara reveals abundant resources at depth and along the area, indicating potential for wealth in the region. Underground development may extend the mine’s lifespan.

Maaden led one of the world’s most extensive exploration programs last year. Discoveries made show untapped mineral wealth in Saudi Arabia, supporting Vision 2030’s goal of diversified income sources.

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