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Highlights
- AuKing Mining confirms promising gold mineralisation at Shaib Marqan.
- Initial sampling shows gold assay results supporting historical data on the region.
- Exploration licence secured, with extensive sampling planned to deepen exploration.
AuKing Mining Ltd (ASX:AKN) has announced significant progress at its Shaib Marqan project in Saudi Arabia, where recent rock chip assays confirm promising gold mineralisation. This project, held in partnership with Barg Alsaman Mining Company (BSMC), follows an exploration licence granted by Saudi Arabia’s Ministry of Industry and Mineral Resources through a competitive bid process.
The Shaib Marqan site, covering approximately 91.8 square kilometers, lies about 100 kilometers southeast of the Al Amar gold mine, which produced nearly 30,000 ounces of gold in 2022. According to the Saudi Ministry’s August 2024 Information Memorandum, the site is considered highly prospective for orogenic vein-hosted gold, making it a valuable location for ongoing exploration efforts. This project aims to unlock the gold potential of a largely under-explored region.
The team at AuKing and BSMC conducted pre-bid site inspections, gathering rock chip samples as part of the early exploration process. These samples revealed impressive assay results, with notable gold concentrations of 2.97 grams per tonne (g/t), 1.31 g/t, and 13.72 g/t. These results align with historical data, reinforcing the potential for further exploration in this mineral-rich area. The preliminary findings will serve as a foundation for a more extensive soil and rock chip sampling program, set to begin upon the formal approval of the exploration licence.
AuKing’s managing director, Paul Williams, highlighted the importance of these discoveries, which will guide a focused sampling strategy. As the project advances, the company anticipates that the forthcoming sampling activities will help clarify the scope of gold mineralisation across the Shaib Marqan site.
Ongoing discussions with the Saudi Ministry aim to finalise the exploration licence, with a priority on expediting further exploration efforts. The company’s collaboration with BSMC strengthens its position, as it prepares for a structured exploration phase to fully understand the site’s mineralisation potential.
This strategic project marks a step forward for AuKing Mining and BSMC as they expand their footprint in the Middle Eastern mining sector, underlining Saudi Arabia’s increasing emphasis on diversifying its resource industry through international partnerships and exploration initiatives.
