Ivanhoe Electric Reports Initial Drill Results from Joint Venture with Ma’aden

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) disclosed via an 8-K filing on January 13, 2025, that it has released the initial drill results from its 50/50 joint venture with the Saudi Arabian Mining Company Ma’aden (“Ma’aden”). The company detailed that the joint venture focused its initial drill program on the Umm Ad Dabah prospect, located near Ma’aden’s Al Amar gold-copper-zinc mine. Utilizing Ivanhoe Electric’s advanced Typhoon TM geophysical surveying systems and Computational Geosciences Inc.’s (“CGI”) inversion software, the joint venture has been guiding its exploration activities.

In March 2024, the joint venture completed the first Typhoon TM survey covering 76 square kilometers near Ma’aden’s Al Amar mine. Subsequent surveys stretched over an additional 162 square kilometers of the Al Amar exploration licenses. Notably, within the initial 76 square kilometer survey and CGI inversion work, the company detected two significant chargeability anomalies spanning roughly 4.5 kilometers in length. Of these, the southern anomaly, starting at about 200 meters below the surface and extending beyond 1,000 meters in depth, covers a strike length of 1.8 kilometers.

Exploration drilling, which began in August 2024, involved drilling 5,490 meters across eight completed holes. Among these holes, three intersected copper mineralization in the southern anomaly. Noteworthy results include Hole UAD-005, demonstrating 13.1 meters at 1.31% copper and 4.5 grams per tonne of silver from 717.9 meters, and Hole UAD-006, showing 5.9 meters at 0.79% copper and 1.9 grams per tonne of silver from 374.5 meters.

The company reported that the information in the press release is not considered “filed” under Section 18 of the Securities Exchange Act of 1934 or integrated by reference into any other filing under the Securities Act of 1933 or the Exchange Act, except as explicitly included by specific reference in such a filing.

Following the initial drill results from the joint venture, Ivanhoe Electric Inc. continues to make progress in its exploration efforts, working in collaboration with Ma’aden to analyze and leverage the acquired data for further decision-making in the project going forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ivanhoe Electric’s 8K filing here.

About Ivanhoe Electric

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.