Sierra Nevada Gold lands copper/gold project in Saudi
ASX-listed Sierra Nevada Gold has been awarded the large-scale As Safra copper/gold project in Saudi Arabia, securing a district-scale exploration opportunity in one of the world’s most prospective yet underexplored mineral provinces.
The company was named the successful bidder for the project at the recent Future Minerals Forum in Riyadh, following its participation in Round 9 of the Kingdom’s Ministry of Industry and Mineral Resources competitive tender process.
As Safra comprises about 375 km2 of tenements and hosts a central copper-gold skarn system with demonstrated high-grade potential over a 5.5 km strike length. Historic sampling by France’s Bureau de Recherches Géologiques et Minières defined mineralisation of up to 244 g/t gold and 11% copper, while limited drilling returned intercepts including 24.55 m at 1.69% copper and 5 m at 4.07% copper.
Sierra Nevada Gold said the formal grant of the exploration licence is expected in the first quarter of 2026, with final administrative steps anticipated in February. Drill rigs have already been secured, with drilling scheduled to begin in April 2026.
The company has completed an initial rock-chip sampling programme at the project, with assay results expected during the first quarter of this year.
“To receive the formal award as the successful bidder in the Round 9 auction on the highly prospective As Safra project was an exciting event for the company, and the investor interest in the project at KSA’s Future Mining Forum was very encouraging," said executive director Peter Moore.
Sierra Nevada Gold said the project represented a strategic entry into Saudi Arabia’s growing minerals sector under the Kingdom’s Vision 2030 initiative. The company views As Safra as a cornerstone asset that complements its Nevada portfolio and provides a potential second discovery pipeline.
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