Ma’aden announces discovery of gold and copper deposits in (Shaiban and Wadi Al-Jaw)

The Saudi Arabian Mining Company announced the discovery of multiple intersections of gold and copper at extractable grades in the exploration areas included in the exploration licenses in the Shaiban area.

According to the announcement published on “Tadawul”, the analytical results issued so far indicate large-scale intersections of gold deposits in Wadi Al-Jaw and gold and copper deposits in Jabal Shaiban at close depths ranging between 20 meters and 200 meters in the two sites, with mineralization extending to greater depths and in all directions.

The company explained that the exploration project is still in its early stages, and it is still in the process of developing and deepening its understanding of the area in which mining activities are taking place, as it does not yet have sufficient information to estimate the size and quality of mineralization or mineral resources.

Therefore, work is currently underway to evaluate and interpret the data available so far to guide the drilling activities that will be carried out in 2025. Maaden stated that the financial impact of this discovery has not yet been determined and confirms its commitment to its shareholders to announce any material events or developments when they become available.