**:Xinhua.
RIYADH, Jan. 8 (Xinhua) -- Saudi Arabian mining companies have announced the discovery of potentially large-scale high-grade gold deposits more than 100 kilometers near the existing Mansura Masala gold mine.
Saudi Arabian mining companies have explored an area 100 kilometers south of the Mansoura Masala gold mine in west-central Saudi Arabia and discovered geological structures and deposits similar to those of the gold mine, Saudi Arabia ** reported. According to the company, two samples obtained from random drilling in the vicinity of the Mansoura Masala gold mine showed a gold content of 10 per tonne each4 grams and 206 grams, indicating the potential presence of high-grade gold deposits, with the entire gold belt expected to be 125km long.
The average grade of natural gold is understood to be grams per tonne. On January 8, local time, the most actively traded February futures price on the New York Mercantile Exchange closed at 2033 per ounce$5 (1 ounce is about 28 grams).
The Saudi Arabian mining company said in a statement that it was the company's first major discovery since launching a large-scale exploration program in 2022. The Company will further increase its exploration activities in the vicinity of the Mansoura Masala Gold Mine this year.