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KEFI Minerals: Saudi Arabian exploration update

Contributed by Fox-Davies Capital

KEFI Minerals has announced drill results from the initial drilling programme at the Jibal Qutman Licence for the Company's 40%-owned Gold & Minerals Joint Venture. Two diamond drill rigs are operating 24 hours per day and 21 holes have been completed to-date. The best results included including 7.1m at 5.85g/t gold and 7.0m at 4.29g/t gold.

Considering that the Jibal Qutman Licence was only granted in July, Kefi is moving fast. We have included all the results released on page 2. Unfortunately not all of the silver assays have been completed but there are some very respectable gold assays and importantly, the gold and silver is being found over good widths and fairly shallow.

The gold mineralisation at Jibal Qutman is hosted in a series of quartz veins over a 3km zone. The main vein dips at 45° to the east, parallel veins form stringer zones around the main vein. In addition sets of flat lying veins have been recently recognised in a separate area in the northwest and extreme south of the prospect area.

The diamond drilling is being performed on initial 100m x 25m and 50m x 25m grids.