Megado Minerals has reported impressive copper and silver assay results from rock chip sampling at its Iberian Copper Project in northern Spain, setting the stage for maiden drilling in Q2 2026.
- High-grade copper and silver assays from historic mines and strike extensions
- Mineralisation extends over a 7-kilometre strike near Mina Emilia
- Completion of a high-resolution airborne magnetic survey
- Planned induced polarisation survey to test for deeper copper sulphides
- Maiden drilling campaign targeted for Q2, calendar year 2026
Exploration Highlights at Iberian Copper Project
Megado Minerals Limited (ASX:MEG) has released encouraging assay results from rock chip sampling at its Iberian Copper Project, located in the provinces of Navarra and Aragón in northern Spain. The samples, collected from historic mines and along strike within the sedimentary host rocks, returned notably high grades of copper and silver, with some assays exceeding 16% copper and 147 grams per tonne silver.
The mineralisation identified spans a strike length of approximately seven kilometres around the historic Mina Emilia area, underscoring the potential scale of the deposit. These results build on the region’s legacy of copper oxide mining dating back to the 19th and 20th centuries, with at least a dozen historic mines and over 50 copper occurrences documented.
Geological Context and Mineralisation Style
The project targets sedimentary-hosted copper-silver deposits within Oligocene-aged sandstone and micro-conglomerate layers, deposited in a fluvial environment. This style of mineralisation, often referred to as “Lisbon Valley” type deposits, is typically associated with structural controls that channel mineralising fluids. Copper oxides and sulphides have formed through interactions with organic matter and precursor minerals in the host rocks, as observed at Mina Emilia and the Biel mine.
Megado’s recent rock chip sampling has confirmed the presence of high-grade copper and silver mineralisation in both oxide and sulphide forms, suggesting the potential for disseminated copper-silver deposits at depth.
Advancing Exploration with Geophysical Surveys and Drilling
Complementing the sampling results, Megado has completed a regional high-resolution airborne magnetic survey across the project area. This survey aims to delineate geological structures that control mineralisation pathways. Additionally, the company plans to conduct an induced polarisation (IP) and resistivity survey over the Mina Emilia workings to detect potential disseminated copper sulphides below the water table, where anoxic conditions may have preserved sulphide accumulations.
Following interpretation of geophysical data, Megado intends to commence its maiden drilling campaign in the second quarter of 2026. This drilling will be critical to testing the depth extensions of mineralisation and validating the exploration model.
Strategic Positioning and Broader Portfolio
The Iberian Copper Project forms a key part of Megado Minerals’ diversified portfolio, which also includes the Alpartir Silver-Copper Project in Spain, the North Fork Rare Earth Project in Idaho, USA, and lithium-gold projects in Quebec, Canada. The Iberian project’s extensive permit area of 956 square kilometres, combined with its rich mining history and promising assay results, positions Megado well to unlock value in a historically productive European copper-silver district.
With the maiden drilling campaign on the horizon, investors will be watching closely for results that could confirm the project’s resource potential and underpin future development plans.
Bottom Line?
Megado’s high-grade assays and upcoming drilling mark a pivotal step in unlocking the Iberian Copper Project’s potential.
Questions in the middle?
- Will the maiden drilling confirm the continuity and depth of the high-grade copper-silver mineralisation?
- How will the geophysical survey results refine target selection and exploration strategy?
- What are the implications of disseminated sulphide mineralisation for potential resource size and metallurgy?