Sun Peak Metals Corp. (TSXV:PEAK) has acquired seven exploration licenses totaling 632 square kilometers in Saudi Arabia, significantly expanding its presence in the prospective Arabian-Nubian Shield. The acquisition brings the company's total land package in the Kingdom to 1,072 km² across 13 licenses.
"Sun Peak's Round 9 strategy was driven by extensive geological research, data analysis, remote sensing and multiple site visits," Greg Davis, CEO of Sun Peak Metals, said. "The selected license areas demonstrate high potential for both VMS and orogenic gold mineralization within favorable geologic environments."
The new licenses were awarded through the Saudi Arabian Ministry of Industry and Mineral Resources' Round 9 licensing auction, finalized on March 26, 2026. The license areas are situated near the Bulghah and Sukhaybarat gold mines and the Nuqrah volcanogenic massive sulfide (VMS) deposit, all owned by the state-controlled Saudi Arabian Mining Company (Ma'aden). Sun Peak's initial exploration work, including geological mapping and geochemical sampling, has already commenced on the new properties.
With the acquisition, Sun Peak solidifies its district-scale position in a region known for major gold and VMS deposits. The company's total holdings of 1,072 km² in Saudi Arabia are comparable to other junior explorers in the region and represent a significant exploration portfolio. For context, the nearby Sukhaybarat gold mine, operated by Ma'aden, produces over 200,000 ounces of gold annually. Sun Peak also holds approximately 1,450 km² of exploration ground in Ethiopia, within the same geological shield.
This article is for informational purposes only and does not constitute investment advice.
