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Resource Mining Corporation Limited ( (AU:RMI) ) has provided an update.
Resource Minerals International has completed a high-resolution ground magnetic survey over 91.88 square kilometres at its Shaib Marqan gold project in Saudi Arabia’s Arabian Shield, marking the first phase of systematic work on the licence. The survey defines seven major fault systems and multiple structural corridors considered highly prospective for gold, building on earlier rock sample assays of up to 40.35 grams per tonne.
The results have allowed the company to delineate four priority target zones, labelled Z1 to Z4, that will be the focus of immediate follow-up exploration and drilling. RMI plans to begin rock chip sampling over these zones shortly, followed by an initial 5,000-metre drilling program, a step that could materially advance the project’s evaluation and strengthen the company’s position within Saudi Arabia’s emerging gold sector.
The most recent analyst rating on (AU:RMI) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Resource Mining Corporation Limited stock, see the AU:RMI Stock Forecast page.
More about Resource Mining Corporation Limited
Resource Minerals International Ltd is an ASX-listed exploration company focused on gold and base metals, with a growing portfolio in Saudi Arabia’s Arabian Shield. Its primary assets include the Shaib Marqan and Wadi Salamah projects, targeting structurally controlled gold and associated mineral systems in underexplored terranes.
Average Trading Volume: 573,793
Technical Sentiment Signal: Buy
Current Market Cap: A$24.71M
Find detailed analytics on RMI stock on TipRanks’ Stock Analysis page.