Ivanhoe Electric, Ma’aden complete first quarter of exploration activities

Ivanhoe Electric provided an update following the completion of the first full quarter of exploration activities in Saudi Arabia by our 50/50-owned joint venture company established between Ivanhoe Electric and Saudi Arabian Mining Company Ma’aden. Ivanhoe Electric’s President and CEO Taylor Melvin commented: “We had an exceptional first quarter of exploration activities in Saudi Arabia with our partners at Ma’aden. Our dedicated joint team completed the first Typhoon survey at Umm Ash Shalahib and identified our first drill targets which we expect to start drilling by the end of May. We demonstrated the disruptive capabilities of Typhoon together with the machine learning-based inversion software of our subsidiary, Computational Geosciences, to rapidly identify subsurface geophysical anomalies in a challenging geologic environment. With large areas of resistive rock exposed at surface, several portions of our survey required transmission voltages of over 5,000 volts, which Typhoon is capable of achieving while maintaining a high signal quality. We are excited to continue our Joint Venture’s exploration activities across the Al Amar and Wadi Bidah belts as we deploy a new generation of Typhoon units into the field.”