Megado Minerals is poised to kick off its maiden drilling campaign at the Iberian Copper Project in northern Spain, targeting historic copper oxide deposits and exploring for deeper sulphide mineralisation with new geophysical surveys underway.
- Maiden drilling program targeting Mina Emilia copper oxide deposit
- IP-resistivity survey commenced to detect copper sulphides at depth
- Aeromagnetic survey processing completed, refining geological understanding
- Stream sediment sampling validates known mineralisation and identifies new targets
- Ongoing geological mapping reveals additional historic workings and secondary sulphides
Maiden Drilling Program to Target Historic Copper Deposits
Megado Minerals Limited (ASX:MEG) is advancing its Iberian Copper Project with a maiden diamond drilling program set to start in June 2026. The campaign will focus on six to nine drill holes totaling approximately 1,500 to 2,000 metres within the Etayo Investigation Permit area. The primary target is the historic Mina Emilia copper oxide deposit and its lateral extensions, aiming to test depth extensions and prospective stratigraphy east of the old workings.
Geophysical Surveys Seek Deeper Sulphide Mineralisation
Complementing the drilling, Megado has initiated an Induced Polarisation (IP)–Resistivity survey at Mina Emilia. This geophysical technique is designed to detect zones of increased chargeability typically associated with massive or disseminated sulphide minerals. Given that historic mining focused on copper oxides, the survey aims to identify underlying copper sulphide mineralisation that may have fed the oxide zones. The survey is conducted by International Geophysical Technology, S.L., marking a significant step in expanding the project's exploration scope.
Aeromagnetic Survey Enhances Geological Interpretation
Processing of a regional aeromagnetic survey flown earlier in 2026 has been completed by Southern Geoscience Consultants in Perth. The survey covered 2,777 line kilometres with lines spaced between 200 and 250 metres, providing a detailed magnetic image of the project area. This data, combined with geological mapping, has sharpened the understanding of the Oligocene-aged sedimentary stratigraphy and structural geology that hosts the copper mineralisation. However, interpretation remains complex due to magnetic interference from cultural artefacts like towns and wind turbines.
Stream Sediment Sampling Validates Targets and Reveals New Prospects
Megado's stream sediment sampling program, conducted in collaboration with the University of Zaragoza, has successfully highlighted known copper mineralised zones at Minas Calixtro, Biel, and Paco Ponz. This geochemical method has also identified previously unrecognised prospective zones within the Quiteria Exploration Permit, which are now under follow-up geological evaluation. The positive correlation between copper and lead assays in these sediments reinforces confidence in the sampling technique and guides future exploration efforts.
Continued Geological Mapping Uncovers Additional Mineralisation
Ongoing geological mapping and rock chip sampling across the project area have uncovered new historic workings and prospective rock units previously unknown to Megado. Notably, the first-ever identification of secondary copper sulphide minerals such as chalcocite in historic workings west of Mina Emilia was recorded. These findings add layers of complexity and opportunity to the exploration model, suggesting multiple mineralisation styles and targets within the project.
Planning for a More Targeted Second-Half 2026 Program
Building on the improved geological and geophysical understanding, Megado is preparing a more focused exploration program for the second half of 2026. This will include additional ground-based geophysics and diamond drilling, designed to thoroughly test high-priority targets across its extensive permit holdings in Navarra and Aragón provinces. The company’s methodical approach reflects its ambition to unlock the potential of sedimentary-hosted copper deposits typical of the North Spanish Oligocene region.
Bottom Line?
Megado’s imminent drilling and geophysical surveys mark a critical phase in validating and expanding its copper targets, with results over the coming months set to define the project’s trajectory.
Questions in the middle?
- Will the IP-resistivity survey confirm the presence of deeper copper sulphide mineralisation at Mina Emilia?
- How will the maiden drilling results influence the prioritisation of targets across the extensive Iberian Copper Project?
- What potential does the newly identified secondary copper sulphide mineralisation hold for expanding resource estimates?