Jordan Copper

MBK has two agreements with the Jordan Ministry for Energy and Mineral Resources (MEMR) granting MBK exclusive exploration rights and reconnaissance rights in Jordan:

• • Exploration Agreement for the Malaqa, Area 65 and Area 47 projects; and
  • Regional Reconnaissance Agreement for inspection, assessment and studies for copper in co-operation with the MEMR, within the Wadi Araba area forming part of the Proterozoic Arabian-Nubian Shield (ANS) in the south of the country, which has very limited exploration to date.

This secures a first mover advantage in Jordan as part of the first step in MBK’s strategy to explore the MENA region for copper.

Figure 1: Jordan Project Locations

Area 65

MBK’s application for exploration rights for Area 65 (Figure 1) was granted in 2024 following completion of a preliminary Environmental and Social Impact Assessment of this area. 

Area 65 provides a bulk tonnage stratiform copper-oxide target, previously identified to the north and northwest of the company’s Malaqa project and towards the centre of the eastern offset of the mineralised Timna/Feinan basin (west and east respectively of the Dead Sea Transform Fault Zone). This basin, with significant non-JORC foreign estimates* at Feinan and Khirbet according to studies by the MEMR (Figure 2) and a stratiform copper deposit mined in modern times at Timna, remains to be tested in a number of target areas.

Figure 2: Wadi Feinan Region showing Area 65 and Malaqa exploration agreements, non-JORC resources and local geology

Area 47

MBK also holds exploration rights over Area 47, an area in Southern Jordan  where ASTER remote sensing analysis combined with limited historical surface data identified a 4km² alteration target as a potential mineralised intrusion. A four-day reconnaissance field program was completed, with 43 stream sediment samples within and adjacent to the ASTER target area returning anomalous Mo-Cu-Bi-Pb-Zn-Bi-Te results. An additional 11 rock chips were also assayed, returning up to 0.7% Cu, 0.2% Pb and 37ppm Mo in zones of silica-flooded hydrothermal breccias, gossans, and copper oxide-bearing mineralised breccia.

These results are considered to represent a metal zonation pattern consistent with the emplacement of a copper-molybdenum (Cu-Mo) style porphyry intrusion system. The Cu-Mo porphyry style intrusion is also represented by a strongly sericite-muscovite-silica (phyllic) altered fractionated felsic intrusive system comprising granodiorites and rhyolite-aplite dyke units.  An increase in brecciation is noted to the southwest where the best rock chip values were obtained and may represent a focal zone for hydrothermal fluids and priority exploration.

Figure 3: Area 47 summary showing sampling results and anomalism

The Cu-Mo intrusive system has been emplaced into the regionally barren Aqaba Intrusive Complex and is readily distinguished from the host Aqaba complex as a lighter relatively more weathered domain due to alteration (Figure 4).

Figure 4: Area 47 summary showing altered Cu-Mo bearing intrusive (right) emplaced in host Aqaba Intrusive Complex unit (left)

Malaqa

The Malaqa project demonstrates several broad areas of stratiform copper CuO mineralisation within extensively distributed sedimentary host rocks, including recent work by MBK which identified: outcropping mineralisation at Um el Amad over 800m in strike, composite rock chips results to 2.51% Cu and mineralisation remaining open to the east and south; identifying broad zones of mineralisation at Malaqa North with results to 26m @ 0.79% Cu from continuous channel sampling plus encouraging samples over larger than interpreted area; and high grade rock chips at Malaqa NW to 8.70% Cu (Figure 5).

Figure 5: Malaqa area geology and summary results from MBK samples (green = November 2023, red = January 2024)

Jordan Exploration – Forward Plan

Approvals are currently being sought for importation of a drill rig and crew to progress MBK’s Jordan projects, with drilling planned to commence at Area 65 in Q3 2025.

Jordan Copper – Malaqa and Feinan area copper mineralisation examples

Jordan Copper regional images

Further information is available by clicking the following MBK ASX releases:

• 05/08/2024 – Metal Bank Secures New Exploration Rights in Jordan
• 04/06/2024 – MBK Copper Strategy Update
• 14/02/2024 – Jordan update
• 16/01/2024 – Growing Copper Mineralisation at Malaqa, Jordan
• 14/11/2023 – High grade copper results continue at Malaqa, Jordan
• 25/10/2023 – MBK secures agreement with Jordan partner
• 25/09/2023 – Strong copper results from initial field work, Jordan 
• 15/08/2023 – MBK field team commences exploration in Jordan
• 19/07/2023 – MBK secures exclusive rights to exploration for Copper in Jordan

*non JORC compliant – Refer: Hashemite Kingdom of Jordan, Natural Resources Authority, Geological Survey Administration, Mineral Status and Future Opportunity “Copper” by Eng. Ibrahim Rabb’a, Dr. Mohammed Nawasreh, 2006.