Megado Eyes 80% Stake in 576km² Spanish Silver-Copper Project with >1,000 g/t Silver

A Strategic Entry into a Historic Silver-Copper District

Megado Minerals Limited (ASX: MEG) has taken a significant step by securing an exclusive five-year option to acquire up to 80% of the Alpartir Silver-Copper-Antimony Project, located in the Province of Zaragoza, Aragón, Spain. This acquisition opportunity positions Megado within a prolific European mineral district known for its structurally controlled, high-grade silver and copper vein systems, with historical mining dating back to Roman times.

The Alpartir Project spans a substantial 576 square kilometres, encompassing a series of granted exploration permits and pending investigation permits. The project area covers over 36 kilometres of documented historical mines and prospective geology, including the notable Bilbilitana and Colosal Platífera mines. These sites have yielded copper concentrates grading between 20–30% copper and silver grades ranging from 64 to 160 ounces per tonne, with indications that grades improved at depth.

Exceptional Historical Grades and Untapped Potential

Historical rock chip sampling conducted by Asturiana de Zinc (now part of Glencore) in 1969 revealed bonanza-level silver grades exceeding 1,000 grams per tonne and copper grades above 5%, alongside significant antimony content. These results underscore the project's potential for high-value mineralisation, although it is important to note these historical results are not compliant with modern reporting standards and require validation through contemporary exploration methods.

Despite the rich history, no modern, systematic drilling programs have been completed at Alpartir. Megado plans to undertake a comprehensive exploration campaign including geological mapping, geochemical sampling, airborne and ground-based geophysics, and ultimately maiden drilling to test down-dip and along-strike extensions of the mineralised veins. This approach aims to unlock the project's full potential and define a JORC-compliant mineral resource.

Governance and Incentives to Drive Progress

Supporting the project’s development, Megado has appointed Dr Lachlan Rutherford, an experienced geologist with over 25 years in exploration and mining, as an Executive Director. Dr Rutherford’s expertise in European mineral projects and corporate strategy is expected to be instrumental in advancing Alpartir. Additionally, key Spanish-based employees have been granted performance rights and options, aligning incentives with project milestones.

The option agreement includes a modest upfront fee and a share swap consideration upon exercise, subject to shareholder approval. Crucially, Megado retains full discretion to exercise the option within five years, contingent on achieving certain mineral resource thresholds and completing a pre-feasibility study demonstrating robust economic returns.

Complementing Megado’s Iberian Portfolio

The Alpartir Project complements Megado’s existing Iberian Copper Project, reinforcing the company’s strategic focus on high-grade, structurally controlled base and precious metal deposits in Spain. Together, these assets offer a diversified exposure to copper, silver, and antimony in a geologically prospective and historically productive region.

As Megado embarks on this new chapter, the market will be watching closely for exploration results that validate the historical data and reveal the scale of mineralisation at depth. The company’s methodical approach and experienced leadership provide a solid foundation for unlocking value in this underexplored European district.