The Al-Miyah zone, encompassing an expanse of nearly 234 square kilometers, is composed of three adjoining exploration concessions.
In a significant move within the mineral exploration industry, the Saudi joint venture Royal Road Arabia has successfully clinched the Al-Miyah copper and gold tender area situated in the Asir Province of Saudi Arabia.
The venture has been granted exploration rights over the expansive Al-Miyah region, known for its historical richness in copper and gold deposits. The initial discovery of these resources by BRGM traces back to 1969.
Recent exploratory activities, including preliminary field assessments and soil sampling, have validated the area’s prospects for hosting intrusion-related and structurally controlled mineralization.
Dr. Tim Coughlin, President and CEO of Royal Road, remarked on the significant lapse in exploration since the last studies, emphasizing the evolved focus on commodities and advancements in exploration geology. He noted the identification of immediate copper and gold potential at both historical sites and new prospects within the licensed territories.
The proactive support from Saudi Arabia towards the mining sector, particularly through innovative financing schemes, was lauded by Dr. Coughlin. He expressed pride in his company’s leading role in the kingdom’s mineral exploration during this transformative era.
Recent explorations by Royal Road Arabia have also revealed new occurrences, hinting at the likelihood of substantial mineral deposits in the area. The company intends to carry out extensive on-ground mapping and soil analyses, coupled with sophisticated drone-assisted scanning, to pinpoint precise drilling locations.
With a pledge to allocate $3.9 million towards exploration initiatives over the forthcoming two years, Royal Road Arabia is set to deepen the knowledge of Al-Miyah’s mineral potential. Their exploration roadmap is contingent on the outcomes, and includes a commitment of a financial guarantee to ensure performance.
Tareq Telmesani, Chairman of Royal Road Arabia and CEO of MIDU, expressed gratitude to the Ministry of Industry and Mineral Resources for the awarded opportunity and conveyed eagerness to begin operations in Al-Miyah. He reiterated the venture’s dedication to supporting Saudi Arabia’s Vision 2030 and contributing significantly to the kingdom’s mining industry.
The partnership that forms Royal Road Arabia is a balanced 50-50 joint venture between Royal Road Minerals and the Saudi Arabian investment holding company MIDU.
