Risks Ahead as Megado Embarks on Ambitious Iberian Copper Exploration
Megado Minerals has completed the acquisition of an 80% stake in the Iberian Copper Project, unlocking nearly 1,000 square kilometres of historic copper and silver mining territory in Spain. The company is accelerating exploration with geological mapping and airborne geophysics ahead of planned drilling later this year.
- Acquisition of 80% interest in Iberian Copper Pty Ltd completed
- Project covers 956 km² across Aragón and Navarra with historic copper mines
- Geological mapping underway; airborne geophysics planned for Q3 2025
- Maiden drilling campaign targeted for Q4 2025
- Exploration partnership established with University of Aragón
Strategic Acquisition Expands Megado’s European Footprint
Megado Minerals Limited (ASX, MEG) has taken a significant step forward by completing the acquisition of an 80% stake in Iberian Copper Pty Ltd, the owner of the Iberian Copper Project in Spain. This acquisition grants Megado control over a sprawling 956 square kilometre area spanning the Aragón and Navarra regions, rich in copper and silver mineralisation with a history of mining dating back to the 1800s.
The project’s geological strike extends approximately 200 kilometres east to west, encompassing multiple historic mines that offer promising exploration potential. This acquisition aligns with Megado’s strategy to target critical minerals in established mining jurisdictions, leveraging historic data and modern exploration techniques.
Accelerated Exploration Program Underway
Megado’s in-country team has already commenced detailed geological mapping to better understand the mineralised structures and prepare for the next phase of exploration. This groundwork is a precursor to an airborne geophysical survey scheduled for the third quarter of 2025, which is expected to refine and prioritise drilling targets across the project area.
The company is targeting a maiden drilling campaign in the fourth quarter of 2025, aiming to test high-priority zones identified through mapping and geophysics. This drilling will be a critical milestone in validating the project’s resource potential and advancing it towards development.
Collaborative Approach with Academic Expertise
To bolster its exploration efforts, Megado has formalised an agreement with the University of Aragón. The university brings substantial regional geological expertise and intellectual capital, having already identified multiple opportunities within the project area. This partnership underscores Megado’s commitment to leveraging local knowledge and scientific research to enhance exploration success.
Additionally, the company has received $144,000 from its Chairman following shareholder approval of a placement in November 2024, reflecting strong internal confidence in the project’s prospects.
Outlook and Market Positioning
Chairman Anthony Hall described the acquisition as a “massive opportunity” for Megado, highlighting the strategic value of controlling an entire copper and silver belt with multiple historic mines. The combination of a capable local team, academic collaboration, and a clear exploration roadmap positions Megado well to unlock value from this significant European asset.
As the company progresses towards drilling later this year, investors will be watching closely for initial assay results that could validate the project’s potential and catalyse further interest in Megado’s expanding portfolio.
Bottom Line?
Megado’s Iberian acquisition sets the stage for a pivotal exploration phase that could redefine its growth trajectory.
Questions in the middle?
- What are the detailed financial terms and exploration budget for the Iberian Copper Project acquisition?
- How will initial drilling results influence Megado’s development timeline and capital raising plans?
- What specific targets has the University of Aragón identified, and how might these shape exploration priorities?