Ivanhoe Electric and Ma'aden Joint Venture Commences Drilling Activities in Saudi Arabia

Ivanhoe Electric and the Saudi Arabian Mining Company Ma’aden have officially commenced drilling activities within their significant exploration joint venture in the Kingdom of Saudi Arabia. The program is initially focused on the Umm Ad Dabah target, located within the Al Amar Belt, where a Typhoon™ survey recently identified a major chargeability anomaly. This milestone is part of a larger effort to explore over 48,500 km² of underexplored terrain across the Arabian Shield.

The rapid progression from survey to drilling was made possible through the integration of the Typhoon™ geophysical surveying system and advanced data inversion software from CGI. By utilizing CGI’s sophisticated inversions, the joint venture was able to clearly image the Umm Ad Dabah anomaly, which begins 200 meters below the surface and extends to depths exceeding 1,000 meters. This high-resolution modeling provided the technical confidence required to design the current eight-hole drill program.

As the joint venture continues to expand its footprint, a second drill rig is scheduled to begin work at Area B later this month. The successful deployment of CGI's inversion technology alongside Typhoon™ underscores the value of using advanced computational tools to de-risk exploration in complex geological environments. We congratulate Ivanhoe Electric and Ma’aden on this landmark achievement and look forward to the results of this transformative exploration campaign.