Kefi Gold and Copper (KEFI.L) has released an updated resource calculation for its Jibal Qutman gold project, incorporating the data from almost 100,000 meters of drilling (in a combination of RC drilling and diamond drilling).
The resource now contains 301,000 ounces of oxide-hosted gold at an average grade of 0.76 g/t while the sulphide category now hosts 23.7 million tonnes at an average grade of 0.77 g/t gold. The majority of those tonnes are in the indicated resource category where the 18.2 million tonnes at 0.76 g/t gold hosts 446,000 ounces of gold. An additional 138,000 ounces are hosted in the inferred resource calculation.
This brings the global resource at Jibal Qutman to 902,000 ounces of gold but as the average recovery rates for the oxide-hosted gold are 91.7% and the CIL recovery for sulphide mineralization is less than 70%, Kefi may have to complete additional metallurgical test work to further optimize those recovery rates.
Disclosure: The author has no position in Kefi Gold and Gopper. Please read the disclaimer.
