Power Metal Resources PLC (AIM:POW, OTCQB:POWMD) has completed its first field programme in Saudi Arabia under a partnership with EV Metals subsidiary, RIWAQ.
The study was carried out at the Balthaga project, where Power Metal can earn into a 30% stake in 13 tenements and where lithium and rare earths are the targets.
Balthaga lies 450km east of Jeddah in the southeast of the Arabian Shield area and consists of 13 contiguous exploration licenses granted in succession over the last two years covering a total area of 1200sq km.
A further two licences comprise the total agreement area but are in different locations and focus on other commodities.
Sean Wade, Power Metal’s chief executive, commented: "Further to the comprehensive desktop review we conducted using all available historical data covering the Balthaga Project area, over 40 initial targets were identified as priority targets to visit.
"The team covered the whole area of the 13 licences and visited nearly every defined target.
"We are really pleased with the outcome of this initial field programme and to get the team on the ground giving them a much better understanding of the geology.
"We look forward to returning to the field after the summer heat to follow up on this work and explore new targets."
Luke Fitzgerald, CEO of EV Metals, added: "The completion of this initial field exploration programme is an important step in understanding the mineral potential at Balthaga to support the EVM strategy of developing a critical raw materials supply chain in the Kingdom of Saudi Arabia.”