RMI’s Saudi Gold Discoveries Spark Excitement Amid Early-Stage Exploration Risks

Strong Assay Results Highlight Saudi Projects

Resource Minerals International Ltd (ASX, RMI) has delivered compelling exploration news from its Saudi Arabian assets, Shaib Marqan and Wadi Salamah. Rock chip sampling returned impressive gold grades, including a remarkable 40.35 grams per tonne at Shaib Marqan, alongside significant silver values at Wadi Salamah. These results reinforce the potential of these central Saudi exploration licences to host economically viable mineralisation.

The Shaib Marqan project, located approximately 240 kilometres southwest of Riyadh, revealed a widespread distribution of gold within quartz veins and shear zones. The presence of weathered sulphides and gossanous boxwork in host rocks suggests a robust mineral system. Meanwhile, Wadi Salamah, about 150 kilometres west of Shaib Marqan, showed gold and silver mineralisation along a shear zone extending over 700 metres, with quartz veins containing trace galena and visible sulphides.

Geophysical Surveys Sharpen Drill Targets

To complement the geochemical findings, RMI completed a detailed ground magnetic survey at Wadi Salamah and commenced similar work at Shaib Marqan. These surveys, conducted in partnership with CNNC Geological Science and Technology Co., aim to map subsurface structures and lithological boundaries critical for targeting future drilling. The integration of magnetic data with geological mapping is expected to refine high-priority drill targets for early 2026 campaigns.

Funding and Financial Position Bolster Exploration Plans

RMI successfully raised $1 million through a placement at $0.025 per share, strengthening its cash position to approximately $557,000 at quarter-end and enabling the company to retire its remaining convertible securities debt. Additionally, a $5 million funding facility remains available for future needs. This financial flexibility supports ongoing exploration activities across RMI’s portfolio, including copper-gold projects in Tanzania and lithium drilling in Finland.

Global Exploration Footprint Expands

Beyond Saudi Arabia, RMI is advancing exploration in Tanzania with drone magnetic surveys over the Mpanda copper-gold project, expected to conclude in early 2026. The company is also progressing a shallow drilling program targeting lithium at its Köyhäjoki project in Finland, responding to improving lithium market conditions. These diversified efforts underscore RMI’s strategic focus on critical and precious minerals across multiple jurisdictions.

While no production or development activities were reported this quarter, the groundwork laid through geochemical sampling, geophysical surveys, and capital raising positions RMI well for a potentially transformative year ahead.