Megado Secures Key Permits, Sets Stage for Iberian Copper Exploration
Megado Minerals has secured four critical investigation permits for its Iberian Copper Project in Northern Spain, enabling a comprehensive exploration campaign including airborne surveys and maiden drilling planned for 2026.
- Four Investigation Permits awarded covering 264.6 km²
- Total project area spans 956.1 km² across 12 permits
- Airborne magnetic survey to commence shortly
- Induced Polarisation/Resistivity survey planned over historic copper workings
- Maiden drilling program scheduled for Q2 2026
Megado Advances Iberian Copper Project
Megado Minerals Limited (ASX, MEG) has taken a significant step forward in its flagship Iberian Copper Project with the award of four Investigation Permits in Northern Spain. These permits, covering 264.6 square kilometres, complement the existing exploration permits and open the door for active exploration across a total project area of 956.1 square kilometres.
The project is situated in the historically copper-rich provinces of Navarra and Aragón, targeting sedimentary-hosted copper deposits known as "red-beds". This region was mined for copper oxides until the 1970s, and the permits cover at least 12 historic mines with over 50 known copper occurrences documented by previous government and industry exploration programs.
Exploration Plans and Techniques
With the permits now secured, Megado plans to launch a high-resolution airborne magnetic survey across the entire project area. This geophysical technique will help delineate geological structures and potential mineralisation zones, providing a critical foundation for targeted exploration.
In addition, an Induced Polarisation (IP) and Resistivity survey is slated for the historic Mina Emilia site, a former copper oxide and silver mine. This survey aims to detect disseminated copper sulphides at depth and along strike, potentially revealing new mineralisation that was previously undetected.
Following the interpretation of geophysical data, Megado intends to commence its maiden drilling program in the second quarter of 2026. This will mark the first direct test of the project's copper potential under Megado's stewardship, with the aim of confirming and expanding known mineralisation.
Broader Portfolio and Strategic Positioning
While the Iberian Copper Project is the company's flagship focus, Megado also maintains interests in other promising ventures. These include lithium and gold projects in Quebec, Canada, and a rare earth element project in Idaho, USA. This diversified portfolio positions Megado to capitalise on multiple critical minerals markets.
The company's 80% interest in the Iberian Copper Project is held through its acquisition of Iberian Copper Pty Ltd, which owns the project entity. This strategic ownership structure underpins Megado's commitment to advancing exploration and potential development in this historically productive copper region.
Bottom Line?
Megado’s permit awards and upcoming exploration mark a pivotal moment, with drilling results in 2026 set to define the project’s future trajectory.
Questions in the middle?
- What initial results will the airborne magnetic and IP surveys reveal about copper mineralisation?
- How extensive and economically viable might the copper deposits be following maiden drilling?
- What are the potential timelines and capital requirements for advancing the Iberian Copper Project beyond exploration?
