Saudi Arabian Mining Company (Maaden) found gold and copper reserves in the Shayban and Wadi Al Jaww exploration areas.

The results show extensive gold mineralisation at Wadi Al Jaww and gold and copper mineralisation at Jabal Shayban, the mining giant said in a statement to the Saudi stock exchange.

Extensive mineralisation at both sites was found at shallow depths of 20 to 200 meters. 

The exploration projects are in the early stages. However, sufficient information to estimate the volume and quality of mineralization or mineral resources is not available. 

Work is being done to assess and interpret the available data to help drive drilling activities this year.

The financial impact of the mineral discovery has not yet been ascertained, the company said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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