Power Metal Resources Completes Initial Exploration of Balthaga Lithium Project in Saudi Arabia
Power Metal Resources, a London-listed exploration company, has announced the successful completion of an initial field exploration program at the Balthaga Lithium Project in Saudi Arabia. The exploration is part of an agreement with RIWAQ Al-Mawarid for Mining, a subsidiary of EV Metals Group plc, to earn a 30% ownership interest in 15 tenements, 13 of which are part of the Balthaga Project.
Located 450km east of Jeddah in the South-East of the Arabian Shield area, the Balthaga Project consists of 13 contiguous exploration licenses covering a total area of 1,200 square kilometers. These licenses were granted over the past two years, with the most recent issued only a few months ago. The project is primarily focused on lithium, with additional interest in associated Rare Earth Elements (REE).
Power Metal's CEO, Sean Wade, commented on the successful field program, stating that the comprehensive desktop review identified over 40 priority targets, which the field team visited during their exploration. The team managed to cover nearly all defined targets, uncovering new prospective sites and gaining a better understanding of the geology.
Despite the challenging conditions, the initial field program was fruitful, and the team plans to return after the summer heat to conduct more detailed work and explore new targets.
"We are very pleased with the progress made in the initial exploration phase and look forward to continuing our efforts to advance the Balthaga Project," said Wade.
