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Cision Canada
13 hours ago
- Business
- Cision Canada
Power Metallic Awarded Jabal Baudan Exploration License in Saudi Arabia's Jabal Sayid Belt
TORONTO, June 16, 2025 /CNW/ - Power Metallic Mines Inc. ("Power Metallic" or the "Company") (TSXV: PNPN), a leading exploration and development company, is proud to announce that it has been awarded the exploration license for the Jabal Baudan project in Saudi Arabia's Jabal Sayid Mineralized Belt. This historic milestone positions Power Metallic as one of the few foreign companies with mining concessions in the Kingdom of Saudi Arabia, having secured a successful bid in this prestigious licensing process. Strategic Acquisition in a High-Potential Region 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 Jeddah along 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 Jabal Sayid Mine and the promising Umm ad Damar deposit. Power Metallic's CEO, Terry Lynch, remarked: "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'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." Location and Geology 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. Historical exploration conducted by BRGM, Riofinex, and USGS between 1966 and 1985 has identified siliceous volcanic rocks and "ironstone" 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. "The Jabal Baudan site is located at the heart of the most prospective region of Saudi Arabia. It is easily reachable by world quality infrastructure and initial samples have confirmed strong potential for a large range of minerals" Dr Remi Piet, Senior Partner at Embellie Advisory. Exploration Enablement Program (EEP): A Collaborative Opportunity The Jabal Baudan project benefits from the support of the Kingdom's Exploration Enablement Program (EEP), a $182 million initiative aimed at stimulating and de-risking mineral exploration investments in Saudi Arabia. Designed to foster knowledge exchange and mutual growth, the EEP provides up to $2 million per exploration license, capped at 15 licenses per company. Power Metallic'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. Commitment to Advancing Saudi Arabia's Mining Sector Power Metallic's entry into the Kingdom aligns with Saudi Arabia's Vision 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's commitment to fostering foreign investment and developing its mineral resources in a sustainable and innovative manner. "Being part of Saudi Arabia's transformative mining landscape is a privilege and a responsibility we take seriously," added Terry Lynch, CEO. "We are committed to working collaboratively with local stakeholders, leveraging our expertise to unlock the immense potential of the Jabal Baudan property." Next Steps 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's potential while adhering to world-class environmental and operational standards. About Power Metallic Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger) where the Company has discovered a rare Ortho Magmatic system comprised of high–grade nickel–copper–PGE, gold and silver system The last Ortho Magmatic system discovery was Anglo Americans Sakatti in Finland and other examples include Voisey's Bay and the world's only mine with over $1 Trillion dollars' worth of metal produced or in the ground the legendary Norilisk. On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins. Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. SOURCE Power Metallic Mines Inc.
Yahoo
21-05-2025
- Business
- Yahoo
Anteros Identifies High-Grade Copper-Gold Targets at the Strickland VMS Property, Newfoundland
St. John's, Newfoundland and Labrador--(Newsfile Corp. - May 21, 2025) - Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to report results from recent assessment work at its 100% owned Strickland VMS Property ("Strickland" or the "Property") in southwestern Newfoundland. The work focused on the digitization and interpretation of multi-element geochemical data from historic trenching, advancing drill targeting efforts on this underexplored polymetallic volcanogenic massive sulphide ("VMS") system. Prior to its public listing, Anteros commissioned the compilation, digitization, and 3D geological modelling of the Strickland VMS system in 2023 and 2024. This foundational work established a strong understanding of Property's geology, alteration, and structure, and enhanced the understanding of multiple mineralized zones along a 1.4 kilometre trend (Figure 1). Since going public, Anteros has advanced the project through targeted follow-up, focusing on geochemical vectoring and priority zone refinement. The 2025 program confirmed compelling indicators of feeder-style alteration and mineralization in underexplored zones and highlighted several new high-priority exploration targets. Mineralization Highlights: Feeder-style alteration and mineralization confirmed: Compilation of 95 multi-element assays from 2012 trenching, integrated with historical drill data in 3D models, is helping to vector toward the potential VMS core and optimize future drill targeting. Copper Zone: Now a high-priority target, with historical trench sampling returning up to 3.7% Cu and 3.25 g/t Au over 1 metre (Cu-C1, Table 1), alongside elevated cobalt and intense alteration - features consistent with VMS feeder conduits. Gold Zone: Historical trenching returned 1-metre intervals up to 3.2% Cu and 1.32 g/t Au (Au-C1, Table 1), with alteration and elemental ratios indicating proximity to a hydrothermal center. This zone has never been drill-tested. Main Zone and Main Extension: Historical trench samples demonstrate elevated Pb-Zn-Ag over extended strike lengths, consistent with stratiform VMS-style mineralization. Table 1: Select 2012 Historical Trench Intercepts1 from Key Mineralized Zones TRENCH ID ZONE FR. (m) TO (m) INT. (m) Cu % Pb % Zn % Ag g/t Au g/t Au-C1 Gold 1.20 6.40 5.20 0.84 0.35 0.10 75.6 0.77 including Gold 5.40 6.40 1.00 3.20 0.50 0.35 131.0 1.32 Cu-C0 Copper 0.00 19.00 19.00 0.62 0.11 0.41 7.3 0.14 including Copper 0.00 5.00 5.00 1.65 0.09 0.08 13.3 0.32 including Copper 4.00 5.00 1.00 4.20 0.16 0.20 33.4 0.79 including Copper 7.00 12.00 5.00 0.30 0.33 1.42 9.9 0.11 Cu-C1 Copper 1.00 6.00 5.00 1.91 0.05 0.03 26.6 1.83 including Copper 2.00 3.00 1.00 3.70 0.05 0.01 43.2 3.25 Cu-C2 Copper 4.00 10.00 6.00 0.38 0.27 0.28 13.4 0.74 Cu-C3 Copper 0.00 4.00 4.00 0.69 0.40 0.25 42.9 0.26 M-C1 Main 0.00 4.00 4.00 0.03 2.05 3.96 262.6 0.30 M-C2 Main 2.20 5.20 3.00 0.03 1.19 0.24 123.5 0.16 M-C3 Main 0.00 2.20 2.20 0.04 1.93 0.13 452.9 0.31 MX-C1 Main Extension 0.00 3.75 3.75 0.10 2.10 3.86 152.2 0.06 MX-C2 Main Extension 0.00 1.40 1.40 0.11 5.14 8.95 311.6 0.40 1Trench intercepts are historic and may not be representative of true width Figure 1: Property Location, Geology, and Mineralized ZonesTo view an enhanced version of this graphic, please visit: "The presence of multiple, mineralized zones along an over 1 kilometre trend indicates a significant VMS system," said Trumbull Fisher, Anteros CEO. "Specifically, the underexplored feeder-style alteration and high-grade gold-copper intervals of the Copper and Gold Zones have emerged as immediate exploration priorities." Next Steps Building on the promising results to date, Anteros is planning a focused exploration program that includes: Field verification of historical trench and drill collar locations to validate spatial accuracy Integration of additional multi-element geochemistry into 3D models to refine and prioritize drill targets Hyperspectral and induced polarization ("IP") surveying to image alteration halos and sulphide concentrations at depth Diamond drilling of the Copper and Gold Zones, which remain largely untested despite returning high-grade trench results About The Property Strickland is held 100% by Anteros and is located approximately 85 kilometres south of Stephenville, within the Exploits Subzone of the prolific Dunnage Zone in central Newfoundland - an area renowned for hosting world-class VMS deposits. The Property hosts seven documented zones of copper ("Cu"), lead ("Pb"), zinc ("Zn"), silver ("Ag"), gold ("Au") mineralization along a 1.4 kilometre trend. Mineralization at Strickland is interpreted to represent a bimodal-felsic (Kuroko-type) VMS system. Documented sulphide mineralization includes sphalerite, chalcopyrite, galena, and pyrite in high-grade polymetallic horizons-positioning the Property within the scope of Canada's Critical Minerals Strategy. In 1981, D.R. Prince of Falconbridge Nickel Mines Ltd. reported the following historical mineral inventories: 260,000 tonnes at 195 g/t Ag and 5.25% combined Pb and Zn at the Main Zone, 15,000 tonnes at 480 g/t Ag and 2% combined Pb+Zn at the Silver Hill Zone, and 750,000 tonnes at 2% combined Pb+Zn at the Main Extension Zone (Source: Falconbridge Nickel Mines Ltd., Internal Report, Geofile #011O/16/0139) These estimates are considered historical in nature and were not prepared using current Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards. A Qualified Person has not completed sufficient work to classify the historical estimates as current mineral resources, and Anteros is not treating them as current mineral resources. The Company considers these estimates relevant to the extent that they indicate the presence of significant mineralization and support continued exploration. The reliability of the estimates is uncertain due to the age of the data, incomplete documentation of estimation methods, and the lack of modern QA/QC protocols. The original report does not provide specific cut-off grades, metal price assumptions, or a description of the estimation methodology. To verify or upgrade these estimates to current standards, Anteros would need to complete field validation of historic trench and drill collar locations, resample archived or in situ material using modern analytical methods, apply current QA/QC protocols, and complete a compliant geological model that supports estimation in accordance with CIM Definition Standards. Since acquiring the Property in March 2022, Anteros has completed comprehensive digital compilation and geological modelling of historical data including airborne and ground geophysics, geological mapping, geochemistry, and over 7,000 metres of historical drilling and trenching. More at Qualified Person The technical content of this news release has been reviewed and approved by Jesse R. Halle, an independent Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). About Anteros Metals Inc. Anteros is a multimineral junior mining company applying data science and geological expertise to identify and advance critical mineral opportunities in Newfoundland and Labrador. The Company is currently focused on advancing four key projects across diverse commodities and development horizons. Immediate plans for their flagship Knob Lake Property include bringing the historical Fe-Mn Mineral Resource Estimate into current status as well as commencing baseline environmental and feasibility studies. For further information please contact or visit: Email: info@ | Phone: +1-709-769-1151Web: | Social: @anterosmetals On behalf of the Board of Directors,Chris MorrisonDirector Email: chris@ | Phone: +1-709-725-6520Web: 16 Forest Road, Suite 200St. John's, NL, CanadaA1X 2B9 Cautionary Statement Regarding Forward-Looking Information This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
