Sun Peak Metals Takes On Saudi Arabia’s Exploration Push
CEO.CA Sep 24, 2026 9:21
Summary
Sun Peak Metals hit mineralization in all seven maiden Safra holes, including 39 meters at 1.38% copper, with the zone open along strike.
VMS (volcanogenic massive sulphide) drilling at Halahila hit mineralization in 9 or 10 of 13 holes across a 7-kilometre trend.
CEO Greg Davis credits Saudi Arabia's Vision 2030 reforms, which allow 100% foreign ownership, with opening the Arabian-Nubian Shield to explorers.
A strong gravity anomaly about a kilometer north of Safra suggests the system could grow much larger, echoing the team's Bisha discovery in Eritrea.
Drilling plans extend to El Maya before year-end and the recently staked Washak target in the coming months, feeding a steady news flow.
Greg Davis's takeaways
- Top takeaway Davis argues the Safra setup — gossanous outcrop plus a strong gravity anomaly about a kilometer along strike — looks like Bisha in Eritrea in 2003, where geophysics directed drilling to a large VMS deposit.
- He says his team's 25 years in the Arabian-Nubian Shield, as the exploration team for Nevsun and senior management for Sunridge, underpins its objective of making multiple world-class discoveries in Saudi Arabia.
- He describes the Saudi Ministry of Mines as professional, well-staffed and highly supportive, saying it enabled the company to move very fast to complete its maiden drill program on two projects.
- He presents the hit rates at Safra (7 of 7 holes) and Halahila (9 or 10 of 13) as evidence that his team's geophysics-led targeting method works.
- He guides to heavy near-term drilling across the portfolio — Safra again soon, at least 2,000 meters at El Maya before end of 2026, and Washak in the following months — and expects strong drill-result news flow.