Massive gold reserves are found in the Makkah region by Saudi Arabia

A “substantial gold resource” has been found inside the Kingdom, according to Royal Saudi Arabia. Large gold reserves were found approximately 100 kilometers south of the Mansourah Massarah gold mine, which is currently operating in the Makkah region’s Al Khurmah governorate.

Multiple gold resources have been discovered, according to the Saudi Arabian Mining Company (Maaden), raising the possibility of further gold mining in the area. This find is the first result of Maaden’s massive exploration effort, which was started in 2022 with the goal of creating a metal production line.

Drilling results from Uruq South, which is located 100 km south of Mansourah Massarah, showed parallels to the Mansourah Massarah deposit in terms of geology. High-grade gold deposits of 10.4 grams per ton (g/t) and 20.6 g/t were found in samples from different sites in two randomly selected drilling locations near Mansourah Massarah.
Maaden intends to step its drilling operations in the Mansourah Massarah area in 2024 in reaction to these findings.

Maaden is exploring the Jabal al-Ghadara and Bir al-Tawila possibilities, which are located 25 km to the north of Mansourah Massarah. Good drilling results in these locations point to a possible 125 km strike, offering Saudi Arabia a huge chance to create a massive world-class gold belt.
The results of near-mine drilling near Mansourah Massarah indicate that the resource is open along the strike and at deep. This presents a significant opportunity for resource growth at the mine and the possible extension of mine life via subterranean development.

Mansourah Massarah claimed having over seven million ounces of gold in its reserves as of the end of 2023, with a capability to produce two hundred fifty thousand ounces year.
Robert Wil, CEO of Maaden, noted that a key component of their growth strategy is the discovery’s potential to become the center of the next global gold rush. He emphasized how these discoveries will help Saudi Arabia utilize its unexplored mineral resources, line with Vision 2030, and establish mining as a major economic pillar.

Maaden is a key player in Saudi Arabia‘s mining industry, with the Public Investment Fund (PIF), the Kingdom’s sovereign wealth fund, owning 67% of the company. In 2022, 11,982.84 ounces of gold were produced by the newest and most technologically advanced gold mine in the nation, Mansourah Massarah.
Utilizing state-of-the-art technologies for mining, processing, and environmental sustainability, the mine is at the forefront of the country’s mining endeavors.