Jibal Qutman EL

The Jibal Qutman Exploration Licence ("EL") is located in the central southern region of the Arabian-Nubian Shield and covers an area of 99.9km2. The EL overlies part of the prospective Nabitah-Tathlith Fault Zone, a 300km-long structure with over 40 gold occurrences and ancient gold mines.

KEFI Minerals completed a Pre-Feasibility Study (“PFS”) on the Jibal Qutman Project in 2014. The PFS demonstrated a profitable carbon-in-leach (“CIL”) operation with All-in Costs (including operating costs, capital expenditure and closure costs) under $1,000 per ounce.

Exploration drilling has subsequently identified additional oxide gold mineralisation. Given the established regional prospectivity for shallow oxide gold deposits, EL Applications have been submitted for four additional areas near Jibal Qutman. Information on Jibal Qutman's geology and mineralogy is available in this conference poster.

Mineral Resource Estimates for Jibal Qutman.

Drilling undertaken since the EL grant in 2012 identified gold resources in seven areas - Main Zone, West Zone, South Zone, South Zone Southeast Extension (“SZSE”), 3K Hill Zone, 4K Hill Zone and Red Hill. 

In May 2015, KEFI released an updated Mineral Resource estimate of 28.4 million tonnes at 0.80g/t gold, containing 733,045 ounces for Jibal Qutman. This represents a 48% or 237,851 ounce increase over the March 2014 resource estimate for Jibal Qutman.

As summarised in the table below, the majority of the Mineral Resource is now in the Indicated category.

 

Category

Tonnes
(millions)

Gold
(g/t)

Contained Gold
('000 ounces)

Oxide

Indicated

8.3

0.86

229

Inferred

2.8

0.64

58

Sub-Total

11.1

0.80

287

Sulfide

Indicated

9.7

0.86

269

Inferred

7.6

0.72

176

Sub-Total

17.3

0.80

446

Oxide
+
Sulfide

Indicated

18.0

0.86

498

Inferred

10.4

0.70

235

Grand Total

28.4

0.80

733

 

The oxide gold mineralisation contained with the above Mineral Resource is estimated to total 11.1 million tonnes at 0.80g/t gold, containing 287,000 ounces.