C29 Metals Secures 3-Year Mayfield License Extension Amid Strategic Exit
C29 Metals has exited its Kazakhstan operations to focus on advancing its Mayfield Copper & Gold Project in Queensland, securing a three-year exploration license extension and confirming strong geological potential.
- Strategic exit from Kazakhstan and termination of Bask International agreement
- Three-year extension granted for Mayfield exploration license in Queensland
- Comprehensive geological review highlights significant copper-gold potential
- Recent drilling confirms promising copper mineralisation at Mayfield
- Plans underway for next-stage exploration and pursuit of advanced copper-gold projects
Strategic Refocus on Australian Assets
C29 Metals Limited has announced a decisive shift in its operational strategy, exiting its Kazakhstan projects to concentrate efforts on its Australian-based Mayfield Copper & Gold Project. This move follows a comprehensive strategic review by the Board, prompted by regulatory challenges and stalled progress in Kazakhstan, which culminated in the termination of the Binding Heads of Agreement with Bask International.
Managing Director Shannon Green described the decision as difficult but necessary, emphasizing the company's renewed commitment to advancing its domestic assets where it holds full control and a clearer regulatory pathway.
Mayfield Project – Geological Promise and License Extension
Located approximately 150km southeast of Mount Isa in Queensland, the Mayfield Project sits within a highly prospective mineral belt known for Iron-Oxide Copper-Gold (IOCG) deposits. The project area spans 91 square kilometers and includes notable nearby mines such as Trekelano and Tick Hill, which have historic copper and gold production records.
Following a detailed submission to Queensland regulators, C29 secured a three-year extension to its exploration license in May 2025, providing a stable platform for ongoing exploration activities. A full geological review conducted by the company’s Exploration Manager and Chief Geoscientist has confirmed considerable geological merit, identifying multiple targets for next-stage exploration.
Encouraging Exploration Results and Targeting Methodology
Recent geophysical surveys, including gravity and induced polarisation (IP) data collected in 2023, have revealed north-south trending anomalies associated with copper mineralisation. Drilling results from the same year have confirmed significant copper intersections, such as 12 meters at 1.55% copper at Trekelano South and 10 meters at 0.5% copper at Clarries.
These findings validate the company’s targeting approach, which integrates geophysical and geochemical data to identify IOCG-style mineralisation. The presence of dense, chargeable rock bodies correlating with copper mineralisation suggests the potential for larger deposits at depth, warranting further exploration.
Next Steps and Growth Opportunities
C29 Metals is now focused on detailed planning to commence the next phase of exploration at Mayfield, aiming to build on the promising early results. Additionally, the company is actively pursuing due diligence on other advanced copper and gold exploration opportunities within Australia, signaling an intent to expand its portfolio in the sector.
While the exit from Kazakhstan removes a layer of geopolitical and regulatory complexity, it also concentrates C29’s resources and attention on a project with strong geological fundamentals and a supportive regulatory environment.
Bottom Line?
C29 Metals’ pivot to Mayfield marks a critical juncture, with exploration results poised to define its next growth chapter.
Questions in the middle?
- What are the financial implications and costs associated with exiting Kazakhstan?
- How soon will C29 Metals commence the next stage of exploration at Mayfield?
- What advanced copper and gold projects is C29 considering for future acquisition or partnership?
