{"id":31559,"date":"2025-06-16T10:18:04","date_gmt":"2025-06-16T14:18:04","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=31559"},"modified":"2025-06-16T10:18:04","modified_gmt":"2025-06-16T14:18:04","slug":"power-metallic-wins-coveted-saudi-arabia-mining-concession","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/power-metallic-wins-coveted-saudi-arabia-mining-concession\/","title":{"rendered":"Power Metallic Wins Coveted Saudi Arabia Mining Concession"},"content":{"rendered":"<p class=\"yf-1090901\"><strong>Power Metallic Mines Inc. (TSXV: PNPN)<\/strong>, a leading exploration and development company, is proud to announce that it has been awarded the exploration license for the Jabal Baudan project in <span class=\"xn-location\">Saudi Arabia&#8217;s<\/span>\u00a0Jabal Sayid Mineralized Belt. This historic milestone positions Power Metallic as one of the few foreign companies with mining concessions in the\u00a0<span class=\"xn-location\">Kingdom of Saudi Arabia<\/span>, having secured a successful bid in this prestigious licensing process.<\/p>\n<h3 class=\"yf-1090901\"><b>Strategic Acquisition in a High-Potential Region<\/b><\/h3>\n<p class=\"yf-1090901\">The Jabal Baudan property, encompassing over 200 square kilometers, is the largest of the seven exploration packages offered in the Jabal Sayid belt. Situated approximately 150 kilometers south of\u00a0<span class=\"xn-location\">Jeddah<\/span>\u00a0along the western Red Sea coastal plain, Jabal Baudan is recognized for its high prospectivity for copper, gold, and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class\u00a0<span class=\"xn-person\">Jabal Sayid Mine<\/span>\u00a0and the promising Umm ad Damar deposit.<\/p>\n<p class=\"yf-1090901\"><div class=\"su-quote su-quote-style-default su-quote-has-cite\"><div class=\"su-quote-inner su-u-clearfix su-u-trim\">We are honored to have been awarded the Jabal Baudan exploration license, marking a pivotal step in our strategy to expand our portfolio into one of the world&#8217;s most promising mineral belts. This achievement underscores our commitment to advancing mineral exploration globally and highlights our ability to secure high-value assets in competitive jurisdictions.<span class=\"su-quote-cite\">Terry Lynch, CEO, Power Metallic Mines Inc.<\/span><\/div><\/div>\n<h3 class=\"yf-1090901\"><b>Location and Geology<\/b><\/h3>\n<p class=\"yf-1090901\">The Jabal Baudan property is in rugged mountainous terrain dissected by wadi systems that flow southward to the Red Sea. It is underlain by late Proterozoic volcanic, volcaniclastic, and sedimentary rocks, which are intruded by younger plutonic rocks ranging from gabbro to granite. This geological setting shares similarities with the nearby Umm Hiljan deposit, providing significant potential for the discovery of VMS-style mineralization.<\/p>\n<p class=\"yf-1090901\">Historical exploration conducted by BRGM, Riofinex, and USGS between 1966 and 1985 has identified siliceous volcanic rocks and &#8220;ironstone&#8221; indicative of mineralizing systems conducive to VMS deposits. Power Metallic intends to leverage historical aeromagnetic survey data to refine its exploration strategy and outline key target areas.<\/p>\n<p class=\"yf-1090901\">&#8220;The Jabal Baudan site is located at the heart of the most prospective region of\u00a0<span class=\"xn-location\">Saudi Arabia<\/span>. It is easily reachable by world quality infrastructure and initial samples have confirmed strong potential for a large range of minerals&#8221; Dr\u00a0<span class=\"xn-person\">Remi Piet<\/span>, Senior Partner at Embellie Advisory.<\/p>\n<h3 class=\"yf-1090901\"><b>Exploration Enablement Program (EEP): A Collaborative Opportunity<\/b><\/h3>\n<p class=\"yf-1090901\">The Jabal Baudan project benefits from the support of the Kingdom&#8217;s Exploration Enablement Program (EEP), a\u00a0<span class=\"xn-money\">$182 million<\/span>\u00a0initiative aimed at stimulating and de-risking mineral exploration investments in\u00a0<span class=\"xn-location\">Saudi Arabia<\/span>.<\/p>\n<p class=\"yf-1090901\">Designed to foster knowledge exchange and mutual growth, the EEP provides up to\u00a0<span class=\"xn-money\">$2 million<\/span>\u00a0per exploration license, capped at 15 licenses per company. Power Metallic&#8217;s participation in this program will accelerate its geological understanding of the Jabal Baudan property, enabling the Company to prioritize high-potential zones for advanced exploration.<\/p>\n<h3 class=\"yf-1090901\"><b>Commitment to Advancing Saudi Arabia&#8217;s Mining Sector<\/b><\/h3>\n<p class=\"yf-1090901\">Power Metallic&#8217;s entry into the Kingdom aligns with\u00a0<span class=\"xn-location\">Saudi Arabia&#8217;s<\/span>\u00a0Vision 2030 initiative, which seeks to diversify the economy and position the country as a global leader in the mining sector. The Jabal Baudan project exemplifies the Kingdom&#8217;s commitment to fostering foreign investment and developing its mineral resources in a sustainable and innovative manner.<\/p>\n<p class=\"yf-1090901\">&#8220;Being part of\u00a0<span class=\"xn-location\">Saudi Arabia&#8217;s<\/span>\u00a0transformative mining landscape is a privilege and a responsibility we take seriously,&#8221; added\u00a0<span class=\"xn-person\">Terry Lynch<\/span>, CEO. &#8220;We are committed to working collaboratively with local stakeholders, leveraging our expertise to unlock the immense potential of the Jabal Baudan property.&#8221;<\/p>\n<h3 class=\"yf-1090901\"><b>Next Steps<\/b><\/h3>\n<p class=\"yf-1090901\">Power Metallic will commence exploration activities at Jabal Baudan with a comprehensive compilation and reconnaissance stage, followed by advanced exploration targeting high-priority zones. The Company will deploy cutting-edge exploration techniques to maximize the project&#8217;s potential while adhering to world-class environmental and operational standards.<\/p>\n<p>Power Metallic Mines is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our <a href=\"https:\/\/capital10x.com\/old\/terms-and-conditions\/#content-disclaimer\">Content Disclaimer<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Power Metallic Mines has been awarded the exploration license for the Jabal Baudan project in Saudi Arabia&#8217;s\u00a0Jabal Sayid Mineralized Belt.<\/p>\n","protected":false},"author":30,"featured_media":31347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2430,56],"tags":[2461,2106,2518,2282,2550,2538,2494,2536,2487],"class_list":{"0":"post-31559","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-energy-transition-metals","8":"category-featured","9":"tag-investing-in-gold-miners","10":"tag-investing-in-nickel","11":"tag-investing-in-polymetallics","12":"tag-investing-in-silver","13":"tag-pgm-metals","14":"tag-polymetallic-metals","15":"tag-polymetallics","16":"tag-power-metallic-mines-inc","17":"tag-tsxvpnpn"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Power Metallic Wins Coveted Saudi Arabia Mining Concession | Capital 10X<\/title>\n<meta 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