AuKing Mining Ltd (ASX:AKN) managing director Paul Williams joins Proactive’s Tylah Tully to discuss the potentially significant gold mineralisation the company has confirmed at the Shaib Marqan project in Saudi Arabia through recent rock chip assays.
The project is in partnership with Barg Alsaman Mining Company (BSMC).
Earlier in the week AuKing and BSMC secured the exploration licence in Saudi Arabia as part of a competitive Saudi Ministry of Industry and Mineral Resources’ 6th Licensing Round bid process.
An Information Memorandum (IM) from the Ministry in August 2024 stated the 91.8-square-kilometre project is considered highly prospective for orogenic vein-hosted gold mineralisation and is significantly under-explored.
The project lies some 100 kilometres southeast of the Al Amar gold mine, which produced nearly 30,000 ounces in 2022.
Pre-bid site inspections included rock chip sampling, which revealed gold assay results of 2.97 g/t, 1.31 g/t, and 13.72 g/t, supporting historical data on gold occurrences in the area.
These results provide a foundation for an extensive soil and rock chip sampling program, which will commence following the formal grant of the exploration licence.
Discussions to finalise this licence with the Ministry are ongoing, and AuKing anticipates being able to initiate focused sampling activities based on these recent findings.
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