Gold & Minerals has received a grant from KEFI Minerals for the first mineral exploration licence at Selib North project in Saudi Arabia.
The licence, which is renewable for five years, gives G&M exclusive rights to explore 75km² and obtain a 30-year mining lease within the area.
In addition to the licence, the company has received approval for two other licences, which now await final approval from the Supreme Committee of Concessions in Riyadh.
G&M will start surface exploration and generate targets for drill testing at the project site, which comprises fault structures and quartz-carbonate veined alteration zones with evidence of gold.
G&M has submitted 21 Exploration Licence Applications in Saudi Arabia that cover about 1,419km².