LSE-listed exploration and development company Aterian has discovered high-grade copper and silver on its recently acquired Azrar project, in Morocco.
The project, which covers an area of 78.4 km2, is held by Aterian’s 100%-owned subsidiary Aterian Resources.
The company’s acquisition of Aterian Resources, which was completed immediately prior to its admission to the LSE’s main market on October 24, has resulted in Aterian holding a portfolio of 15 copper/silver and base metal projects, in Morocco, totalling 762 km2.
“We look forward to pressing ahead with the exploration of the project and the other assets within our Moroccan portfolio, which we believe demonstrate significant upside potential,” Aterian chairperson Charles Bray said on November 4.
Aside from the high-grade copper and silver reported from outcrop sampling, Aterian noted results including 3.79% copper and 23 g/t silver in a fault breccia sample, as well as another result showing 2.06% copper with 24 g/t silver. Overall, copper and silver mineralisation have been identified across five target areas.
Bray said mineralisation had been observed in fault-related breccia and hosted in carbonate and siltstone sedimentary sequences. Several artisanal workings were also identified across the project, with host rocks considered comparable to the nearby Managem-owned Tizert copper mine.
Exploration work to date covers less than 50% of the project area, while multiple occurrences of historic hard rock artisanal mining have been mapped. Potential was also identified for stratiform sediment-hosted and contact breccia copper/silver mineralisation.
“The results of our outcrop sampling campaign . . . are highly encouraging and demonstrate the presence of high-grade copper and associated silver mineralisation across a considerable extent of the project. These results support earlier observations made during initial reconnaissance that prospective geological formations for stratiform sediment-hosted copper deposits occur within the project area. The discovery of multiple historic artisanal workings further supports the mineral potential at Azrar,” Bray said.
He said the company would continue to evaluate unexplored areas of the project and follow up on the multiple targets generated by the field teams.
“Concurrently, we will commence detailed mapping and sampling over the five target zones identified so far. Ultimately, we are working towards establishing an extensive drill programme,” Bray said.