Ivanhoe Electric's Joint Venture With Ma'aden Starts Drilling Activities in Saudi Arabia

MT Newswires Live08-19

Ivanhoe Electric (IE) said Monday that its joint venture with Saudi Arabian mining company Ma'aden has begun drilling activities in that country.

An initial survey near the Al Amar gold-copper-zinc mine of Ma'aden covered 155 square kilometers and identified two chargeability anomalies for drill testing, Ivanhoe said.

One of those anomalies is at Umm Ad Dabah, the focus of current drilling, the company said.

The company said the first drill hole is planned for a depth of about 250 meters to test the top of the anomaly.

The joint venture has more than 48,500 square kilometers of exploration licenses and applications covering the Al Amar Belt, the Wadi Bidah and Bir Umq Belts, and an area called the Carbonate Platform, Ivanhoe said.

Price: 7.18, Change: -0.06, Percent Change: -0.83

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