– MBK agreements for exclusive exploration rights and reconnaissance rights
MBK has entered into two agreements with the Jordan Ministry for Energy and Mineral Resources (MEMR) granting MBK exclusive exploration rights and reconnaissance rights in Jordan:
- Malaqa Exploration Agreement centered on the historically significant Um el Amad (Mother of Pillars) copper mine, contiguous to the Feinan Copper district, with potential for significant sediment-hosted stratiform copper deposits; 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.
Jordan Copper – Malaqa project area
Initial work is focused on the historic Um el Amad copper mine and surrounds in the Malaqa area. Malaqa is contiguous with the Feinan Copper district (36Mt @ 1.36% Cu*, USGS) and Khirbet el Nahas (25Mt @ 2.33% Cu*, USGS) and considered to host excellent potential for sediment-hosted stratiform copper deposits. Host rocks at Um el Amad are also contiguous and contemporaneous with the Timna deposit (28Mt @ 1.51% Cu*, USGS) on the opposite side of the Dead Sea rift structure.
*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.
Jordan Copper – Malaqa and Feinan area copper mineralisation examples
Jordan Copper – Malaqa 2023 results (to Nov23)
First-pass reconnaissance work at Malaqa has returned positive rock chip results up to 8.7% Cu from several prospects over a significant area at Malaqa, demonstrating scope for a large ‘blanket’ of copper oxide mineralisation in the area. In addition, multiple mineralised horizons have been observed, shallow cover is interpreted to obscure mineralisation for a significant portion of the project area, and the potential for nearby intrusives and basement volcanics to host primary copper mineralisation is yet to be tested.
Work is ongoing to establish priority targets for maiden drilling as soon as possible.
In addition to the Malaqa agreement, MBK has entered into a Regional Reconnaissance Agreement in co-operation with the MEMR to explore the Wadi Araba rift area in the far NW of the Arabian-Nubian Shield for copper. This provides significant scope to increase prospectivity and discovery of large-scale stratiform, VMS and other styles of copper and copper-gold deposits in the region.
Jordan Copper – Wadi Araba project area
Jordan is a geologically prospective region that has received very limited exploration since historic times, with work by Otto Gold in the 1960s and BGRM (French Geological Bureau) in the 1970s.
The Company is well-supported with in-country capabilities and plans for initial testing and reconnaissance of the Um el Amad area and surrounds, sampling of historical drilling and progression to aerial/drone surveys prior to exploration drill testing. The Company will commence detailed review of the Wadi Araba rift zone with prospectivity analysis from existing geophysical, geochemical and satellite datasets prior to developing modern exploration approaches.
Jordan Copper regional images
Further information is available by clicking the following MBK ASX releases:
- 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
Competent Persons Statement
The information in this web page that relates to Mineral Resource Estimations and Ore Reserves was prepared and reported in accordance with the ASX Announcements and News Releases referenced in this web page.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant ASX announcements and News Releases. In the case of Mineral Resource estimates and Ore Reserve estimates, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original ASX announcements or News Releases.