Mari Energies discovers significant copper-gold reserves near Reko Diq

Mari Energies Limited, one of Pakistan’s largest E&P companies, has announced a significant copper-gold discovery at its East Siah Diq (ESD-1) target in Chagai district, Balochistan, through its wholly owned subsidiary Mari Minerals (Private) Limited.

The company disclosed the development in a notice to the Pakistan Stock Exchange on Friday.

“The discovery area under discussion is located approximately 50km east of the Reko Diq copper-gold mine development project and 25km northwest of Nokkundi in the Koh-i-Sultan area adjacent to the Siah Diq Project,” the company said.

Mari Minerals, which holds multiple exploration licenses in Chagai, has completed approximately 25,000 metres of exploration drilling at ESD-1 in two phases.

Based on the results to date, the company said ESD-1 is a new porphyry copper discovery.

“Further drilling, geological interpretation, metallurgical test work, resource estimation and technical studies will be required before the scale, grade continuity, economic significance and development potential of mineralisation can be determined,” the company said.

The technical information was reviewed and approved by John Mortimer, PhD, of JM Geoscience Pty Ltd, who has over 40 years of relevant experience, including porphyry copper exploration, said the company.

Mari Minerals (Private) Limited, formerly known as Mari Mining Company (Pvt) Limited (MMC), is a wholly-owned subsidiary of Mari Energies Limited (previously Mari Petroleum Company Limited). It was established in July 2023 with the purpose of undertaking mineral mining projects in Pakistan and contributing to the growth of the country’s mineral mining sector.

A day ago, Mari Minerals inked an agreement with mining giant Ivanhoe Atlantic for the exploration of copper and gold deposits in Chagai, Balochistan.

Under the agreement, the two companies intend to undertake exploration activities to assess the region’s mineral potential and identify opportunities for the development of its copper-gold resources.