State-backed mining company Maaden said that the exploration programme is one of the largest of its kind globally within a single jurisdiction.

Saudi Arabia has uncovered major new gold reserves at four sites across the Kingdom, adding more than 7 million ounces to its known resources following fresh discoveries and targeted drilling.

State-backed mining company Maaden said on Monday, January 12, that its latest exploration campaign has resulted in total resource additions of 7.8 million ounces of gold. The discoveries span operating mines, early-stage prospects, and entirely new areas within Saudi Arabia.

In a post on X, the company described its exploration programme as one of the largest of its kind globally within a single jurisdiction. “Today, we announced that we have contributed more than 7 million ounces in addition to our reported KSA gold resources across four strategic assets,” it said.

According to Arabian Business, the gains came from targeted drilling at four locations. The Mansourah Massarah operation alone added around 3 million ounces of gold on a year-on-year basis. Drilling at the Uruq 20 and Umm As Salam prospects contributed a combined 1.67 million ounces, while Wadi Al Jaww yielded an estimated 3.8 million ounces.

Maaden said advanced drilling in the Central Arabian Gold Region has identified new mineral-rich zones, while near-mine drilling at the historic Mahd gold mine has expanded the potential resource envelope. The company said this could be evaluated further for a possible extension of the mine’s operational life.

Maaden Chief Executive Officer (CEO) Bob Wil said the results demonstrate that the company’s long-term strategy is delivering tangible outcomes. He added that the findings reinforce the rationale behind continued heavy investment in Saudi Arabia’s gold resources.

Courtesy : The Siasat Daily