Power Metal Resources plc is due to start the next stage of exploration to increase its interest in the Balthaga polymetal and minerals project, located mid-way between Riyadh and Jeddah in Saudi Arabia.
DRILL TARGETS
The 13 contiguous exploration licences, covering an aggregate 1,290 km2, are prospective for tin, tungsten, lithium, beryllium, molybdenum, niobium, tantalum and rare earth elements.
The company’s subsidiary Power Metal Arabia has a binding earn-in agreement with RIWAQ Al-Mawarid for Mining (RIWAQ), which is 90% owned subsidiary of EV Metals Group plc.
Power Metal currently owns 20% after its initial spending on 2025 exploration, which identified anomalies and targets.
The company said that its next stage of exploration, focused on defining drill targets, would result in a 30% ownership of Balthaga.
The two-phase programme comprises mapping and rock sampling on new and previously defined targets, followed by infill soil geochemistry sampling.
Experts from SRK Consulting (UK) Ltd, the MSA Group in Jeddah and a local logistics expert will support the field work.
In 2022, Balthaga was considered as a possible project for Critical Mineral Resources plc, under its previous name of Caerus Mineral Resources, which instead opted for projects in Morocco.