Independent review confirms technical credibility of Ankh’s Egypt gold/copper project

MSA finds that Wadi Dara is a technically credible and encouraging exploration project, with a strong geological foundation, a capable exploration team and comprehensive data collection practices appropriate to its stage.

MSA confirms that Ankh has developed a sound understanding of the geology, alteration, structure and mineralisation controls at Wadi Dara, supported by specialist input and well-structured field data capture.

In MSA's assessment, the Wadi Dara mineral system has a large footprint, measuring about 3.5 km along strike and 1 km in width, and is considered potentially a deposit of scale, pending further exploration to determine the density and continuity of mineralised structures.

MSA formally classified Wadi Dara as an intrusion-related gold (IRG) mineral system with an atypically high copper and molybdenum content – a recognised and well-understood deposit type hosted within a granitic intrusion and associated with a well-developed structurally controlled hydrothermal system.

In MSA’s interpretation, the alignment of mineralised trenches, drill intersections and ancient workings suggests that the principal mineralised trends in Areas A and B are laterally persistent, with further drilling to test whether the system links the target areas into a broader mineralised corridor.

MSA concluded that the geological interpretation is robust for the current stage of the project, with the integrated mapping, trenching and drilling supporting a coherent mineral system model in which mineralisation is controlled by structure, alteration and vein density.

Ankh explains that exploration completed since 2023 comprises detailed multi-scale mapping, 26 trenches totalling about 9 279 m, more than 5 000 surface samples and 17 diamond drill holes for 6 402 m.

The company notes that trenching, drilling and analytical workflows were found to be aligned with industry standards, with on-site sample preparation and analytical workflows generally appropriate and quality assurance and quality control systems in place and being monitored effectively.

Data collection practices were judged suitable for geological modelling and, with the recommended enhancements, future mineral resource estimations (MREs).

The planned 2026/27 programme of further Area B trenching and about 48 600 m of diamond and reverse circulation (RC) drilling was considered appropriate to advance the project toward a maiden mineral resource.

Ankh notes that, citing MSA's opinion, if its recommendations are implemented in a timely and phased manner, the project will be well positioned for improved exploration targeting, higher confidence in future datasets, and eventual progression toward MRE.

"This independent assessment is an important milestone for Ankh and a strong endorsement of the work we have undertaken at Wadi Dara since 2023.

“MSA's findings confirm that the foundations we have built, the geology, the data and the systems behind them, are sound, and that our exploration approach has been rigorous and well-structured from the outset.

“We are particularly encouraged that MSA recognises the scale of the Wadi Dara system and its potential, pending further exploration, to host a deposit of scale. These conclusions reinforce our confidence as we deliver the next phase of work and advance the project toward defining a maiden mineral resource,” says Ankh Resources CEO Mostafa Taalat.

Alongside its findings, MSA provided recommendations to further strengthen the company's data management, QAQC verification and procedural documentation.

Ankh is implementing these as part of its programme to ensure exploration data is supported by a robust audit trail suitable for code-compliant disclosure, including migration to a formal relational database as the project advances.