The Jabal Baudan property, spanning over 200 square kilometers, represents the largest of the seven exploration packages made available in the coveted Jabal Sayid belt.
Power Metallic Mines Inc, a prominent exploration and development company, has announced a significant achievement, having been awarded the exploration license for the Jabal Baudan project in Saudi Arabia's highly prospective Jabal Sayid Mineralized Belt. This landmark acquisition positions Power Metallic as one of the few international companies to secure mining concessions in the Kingdom, marking a pivotal moment in its global expansion strategy.
Strategically located approximately 150 kilometers south of Jeddah along the western Red Sea coastal plain, the site is recognized for its significant potential for copper, gold, and zinc mineralization. The region is well-known for its massive volcanic sulfide (VMS) deposits, which include the world-renowned Jabal Sayid Mine and the promising Umm ad Damar deposit, indicating a rich geological environment ripe for discovery.
The geological setting of the Jabal Baudan property is characterized by rugged mountainous terrain dissected by wadi systems flowing southward to the Red Sea. It is underlain by late Proterozoic volcanic, volcaniclastic, and sedimentary rocks, intruded by younger plutonic rocks. This geological composition shares striking similarities with the nearby Umm Hiljan deposit, suggesting significant potential for the discovery of VMS-style mineralization. Historical exploration efforts by BRGM, Riofinex, and USGS between 1966 and 1985 have already identified siliceous volcanic rocks and "ironstone," which are key indicators of mineralizing systems conducive to VMS deposits. Power Metallic plans to leverage historical aeromagnetic survey data to refine its exploration strategy and pinpoint high-priority target areas.
Furthermore, the Jabal Baudan project will benefit significantly from the Kingdom's Exploration Enablement Program (EEP), a substantial $182 million initiative designed to stimulate and de-risk mineral exploration investments in Saudi Arabia. This program, fostering knowledge exchange and mutual growth, offers up to $2 million per exploration license, with a cap of 15 licenses per company. Power Metallic's participation in the EEP is expected to accelerate its geological understanding of the Jabal Baudan property, enabling the company to effectively prioritize high-potential zones for advanced exploration.
Power Metallic's entry into the Saudi Arabian mining sector aligns perfectly with Saudi Arabia's Vision 2030 initiative, which aims to diversify the national economy and position the country as a global leader in the mining industry. The Jabal Baudan project serves as a prime example of the Kingdom's dedication to fostering foreign investment and developing its mineral resources in a sustainable and innovative manner.
