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The Maaden Gold Discovery: What Does It Mean For KSA

NewsThe Maaden Gold Discovery: What Does It Mean For KSA

Recently, the Saudi Arabian mining company “Maaden” made an important announcement about the discovery of several gold deposits. These deposits were uncovered in the Uruq south of the Mansourah Massarah gold mine, where they are already operating. It signals an expansion potential for further gold mining within that area. 

Maaden also stated that this finding in the 100-km strip is the first result of a 2022 exploration program to build the company’s production pipeline.

This new Maaden gold discovery is a timely contribution to further developing the Kingdom’s resource base and mining sector. 

How Good Is The Gold?

The quality of the new Maaden gold discovery, regarding chemistry and geological characteristics, is similar to the existing deposits under Mansourah Massarah. 

According to the company, the drilling results have shown a 125-km potential strike. If this is realized, the region could become a world-class Saudi Arabian gold belt. 

Sample testing showed high-grade gold deposits of 20.6 and 10.4 grams per tonne gold in two random sites drilled around 400 meters from Mansourah Massarah. According to the ore testing from both areas, this finding indicated a high density of the precious metal. 

The Maaden CEO, Robert Wilt, has identified this finding as potentially the hub of the following global gold rush. He also mentioned that the Maaden gold discovery could be a significant part of future growth plans. 

The Golden Future of KSA

While Maaden has seen some struggles, the company hopes the Maaden gold discovery is a positive turning point. The finding can be the start of tapping the full potential of mineral resources within Saudi Arabia. 

According to Robert Wilt, the discovery may also help establish the mining sector as a third pillar of the Saudi Arabian economy. This progress will fulfill another of the company’s ambitions. 

Wilt also noted that the Arabian Shield shows excellent potential for similar world-class findings. He added that this might be the first of the many reserves they hope to uncover in the years to come. 

With their results, Maaden is planning an increase in drilling activities for 2024. This expansion is part of a larger effort to diversify Saudi Arabia’s resources and significantly reduce its oil dependency. Overall, it’s part of the Vision 2030 efforts under the guidance of Crown Prince Mohammed Bin Salman. 

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