MINEX Forum

Tag: Copper Exploration

  • Teniz Resources Secures 39,000 Hectares for Copper Exploration in Kazakhstan

    Teniz Resources Secures 39,000 Hectares for Copper Exploration in Kazakhstan

    Teniz Resources Ltd, a company led by geologist Madina Kapenova, has been granted access to nearly 39,000 hectares for copper exploration in Kazakhstan. The Akimat of the Atbasar district issued three permits valid until 2031, allowing the company to conduct geological surveys and search for copper deposits in sedimentary rocks. The total area covered by these permits is approximately 38,838.7 hectares, equivalent to around 388 square kilometres. The first permit grants access to 14,458.8 hectares in the Sepievsky rural district, while the other two cover 21,645.1 hectares in the Pokrovsky and Makeevsky rural districts, and an additional 2,734.8 hectares in the Sepievsky village district. The permits are set to expire on May 8, 2031, for the first two areas, and June 28, 2031, for the third.

    While the specific mineral resources are not detailed in the permits, Teniz Resources is associated with a project named Teniz — Sediment-Hosted Copper, as noted on the Aurora Group’s website. The company asserts that the Teniz basin is promising for discovering significant copper deposits in sedimentary formations, with surface manifestations of copper identified in at least five priority zones for further study.

    Founded in the Astana International Financial Centre in August 2024, Teniz Resources is solely owned by Madina Kapenova, who also serves as the CEO, director, secretary, and authorised signatory. Kapenova has a strong background in geology, having previously worked at the Zhayrem Mining and Concentration Complex and in various capacities within the Ministry of Industry and Infrastructural Development of Kazakhstan. The ongoing expansion of geological exploration in Kazakhstan is crucial, especially as the country faces the gradual depletion of known mineral reserves. Recent government initiatives aim to auction off 100 mineral sites under simplified rules, highlighting the increasing importance of discovering new deposits.

  • Mundoro Capital Highlights Copper Generator Model and Exploration Partnerships at PDAC 2026

    Mundoro Capital Highlights Copper Generator Model and Exploration Partnerships at PDAC 2026

    Mundoro Capital Inc. used the PDAC 2026 conference in Toronto to outline its exploration strategy focused on copper projects in Eastern Europe and the United States, emphasising the company’s use of a “generator” model designed to advance exploration while limiting shareholder dilution.

    Speaking during the event, Chief Executive Officer Teo Dechev explained that the generator model allows the company to assemble prospective land packages and develop exploration targets before bringing in larger mining companies to fund drilling and project development. This approach reduces the need for continuous equity financing while enabling exploration to move forward through partnerships.

    Mundoro Capital focuses primarily on copper opportunities in regions with strong geological potential. The company currently concentrates its exploration activities in Serbia and Arizona, where it identifies and secures land positions, compiles geological data and generates exploration targets before partnering with major mining companies.

    According to Dechev, option agreements with industry partners provide funding that can be reinvested into developing additional exploration opportunities. The strategy allows the company to build a pipeline of projects while sharing financial risk with larger operators.

    One of the most significant examples of this approach is Mundoro’s Serbian portfolio in the Timok region, a well-known copper district in eastern Serbia. The company has assembled approximately 940 square kilometres of prospective ground in the area and entered into multiple agreements with global mining company BHP.

    Under the partnership, BHP is expected to carry out systematic drilling campaigns across several exploration targets during the year, a development Dechev described as a major step forward for advancing the district’s copper potential.

  • Arras Minerals and Teck End Strategic Alliance as Kazakhstan Copper Targets Advance to 2026 Plans

    Arras Minerals and Teck End Strategic Alliance as Kazakhstan Copper Targets Advance to 2026 Plans

    Canada-based Arras Minerals Corp. has provided an update on its Strategic Alliance with Teck Resources Limited and outlined its exploration plans for 2026 across its licence portfolio in Kazakhstan, following Teck’s decision to exit the staged option phase of the agreement.

    The two companies entered into the alliance in December 2023 to explore for copper across approximately 1,900 square kilometres of Arras’ licence package in Kazakhstan’s Pavlodar region. Under the agreement, Teck funded around $5 million in generative exploration over a two-year period, with Arras acting as project manager. Teck had the option to select up to four designated properties for further investment of up to $47.5 million per project to earn up to a 75% interest, but has elected not to proceed to this second phase.

    Despite the decision, the alliance delivered extensive exploration results. Over two years, the program identified three new porphyry systems along a 54-kilometre trend parallel to the operating Bozshakol copper-gold mine, defined a large hydrothermal system at the Besshoky project, and generated a substantial geochemical and geophysical dataset. Work included nearly 40,000 soil samples, airborne magnetic surveys, Heli-EM and induced polarization surveys, 479 top-of-bedrock drill holes, and 18 diamond drill holes totaling more than 5,200 metres.

    Drilling returned multiple mineralized intercepts across several targets, confirming porphyry-style alteration and mineralization at Shirderty, Bozshakol South and Tort Kuduk. At Tort Kuduk, one hole intersected 34 metres grading 0.25 g/t gold, highlighting precious-metal upside alongside copper potential.

    Teck said that while the results did not meet its threshold to advance to the next phase, it remains positive on Kazakhstan and will continue as a supportive shareholder. Arras management described the alliance as successful in narrowing a large land package into a focused set of high-priority targets and said many warrant further follow-up.

    For 2026, Arras plans additional geophysical surveys, including magnetotelluric and gravity work, followed by targeted diamond drilling at several copper porphyry prospects. The company also intends to advance precious metals-focused targets that were not drilled during the alliance period and could reach drill-ready status with additional fieldwork.

    Arras said the work completed with Teck’s funding has significantly de-risked its portfolio and strengthened the pipeline of drill targets, supporting continued exploration of its Elemes copper-gold project and other priority areas across its Kazakhstan licences.

  • Mundoro Expands Strategic Partnership with BHP in Serbia’s Timok Copper District

    Mundoro Expands Strategic Partnership with BHP in Serbia’s Timok Copper District

    Mundoro has strengthened its long-running collaboration with BHP through a new option agreement covering seven exploration licences in Serbia’s Timok Magmatic Complex, one of the world’s premier copper districts. Announced on 13 October, the deal allows BHP to earn 100% ownership of the Central Timok Project over ten years by investing US$35 million in exploration.

    Under the terms, Mundoro will retain a 2% NSR royalty upon full earn-in, while also receiving escalating annual option payments that start at US$323,000. The company will operate the project during the exploration phase and collect annual operator fees.

    CEO Teo Dechev said the expanded partnership reflects the quality of Mundoro’s portfolio and builds on more than a decade of operational experience in the region. She emphasized that combining Mundoro’s local geological expertise with BHP’s global porphyry exploration capabilities will strengthen targeting strategies and improve the chances of making new copper discoveries in eastern Serbia.

    Alongside ongoing work in Serbia and the United States, Mundoro continues to pursue new project-generation opportunities aimed at long-term value creation for shareholders.

  • GreenX Metals Uncovers Deep Copper Source at Historic German Mining District

    GreenX Metals Uncovers Deep Copper Source at Historic German Mining District

    GreenX Metals (ASX: GRX) has identified the likely deep source of copper mineralisation beneath Germany’s historic Richelsdorf mining district, marking the first modern exploration at the site in 40 years.

    A helicopter-borne magnetic and radiometric survey, spanning 58 square kilometres over 660 line kilometres at 100-metre spacing, confirmed the presence of the Mid-European Crystalline Zone (MECZ). This major geological structure is widely regarded as the source of metals feeding the Kupferschiefer deposits, one of Europe’s most significant copper belts.

    Data analysis revealed two large amplitude magnetic anomalies supported by gravity modelling, consistent with an uplifted basement block beneath the old mines. Chief executive officer Ben Stoikovich described the discovery as a “breakthrough,” noting that the newly mapped structures and fluid pathways could play a critical role in the formation of copper-rich mineralisation.

    The survey also highlighted extensive fault zones that extend into the larger Tannenberg 2 licence area, suggesting the mineral system may be much larger than previously believed. Combined, GreenX’s 1,900 square kilometre landholding gives it one of central Europe’s largest brownfield copper exploration footprints.

    The project benefits from Germany’s existing infrastructure, shallow cover, and a long mining history, making it strategically valuable at a time when copper is increasingly important to both Germany and the wider European Union.

    The exploration is fully funded by the BHP Xplor program, which GreenX has extended until October 2025. Upcoming work includes relogging and assaying historical core, hyperspectral scanning, reprocessing legacy geophysics, and developing a new geological model to refine drill targeting.

    Stoikovich added that the ongoing integration of historic records with modern geophysical data is steadily building confidence in the project’s potential to deliver new copper discoveries.

  • Mundoro Reports Solid Q1-2025 with Strategic Focus on Copper Exploration Across Serbia, Bulgaria, and the U.S.

    Mundoro Reports Solid Q1-2025 with Strategic Focus on Copper Exploration Across Serbia, Bulgaria, and the U.S.

    Mundoro Capital Inc. (TSXV: MUN | OTCQB: MUNMF) has released its operating and financial results for Q1-2025, highlighting a strategic focus on advancing copper exploration projects in Serbia, Bulgaria, and the United States. The Company reported a stable cash position of $5.2 million with no long-term debt, and net income of $451 for the quarter.

    While total fee income dipped to $740,392, exploration and evaluation expenditures totaled $1.76 million, most of which were partner-funded. Net exploration costs for Mundoro stood at $307,875. Corporate expenses rose modestly to $296,732 due to audit fee accruals.

    Key Exploration Highlights:

    Serbia (BHP-Mundoro Partnership):

    • Borsko Project: Passive seismic and ground AMT surveys were completed with 3D inversion models expected in Q2-2025. Drill planning is underway for a new NW target area.

    • Trstenik Project: Mapping and structural analysis were completed. Delayed forestry permits have pushed drilling plans to later in 2025.

    • South Timok Projects: Ground surveys and structural interpretations advanced across several licenses, identifying new targets in covered terrains.

    Mundoro-Owned Serbian Projects:
    Holding ~419 sq km in the prolific Timok Magmatic Complex, Mundoro is progressing toward potential third-party partnerships.

    Bulgaria (JOGMEC-Mundoro):

    • The EE1 copper project faces permitting delays due to legal appeals. A planned 1,800-meter drill program is pending final government approval.

    USA Projects:

    • Dos Cabezas (AZ): Defined six porphyry targets; partner visits and fieldwork ongoing.

    • Copperopolis (AZ): Generative work confirmed porphyry-style alteration; assay results expected Q2-2025.

    • Picacho (AZ): Geochronology confirms Laramide age, reinforcing porphyry potential.

    Generative Exploration:
    Mundoro continues to explore new opportunities in Serbia’s Cretaceous/Tertiary belts, the U.S. Laramide Belt, and additional global copper trends.

    Despite reduced partner-funded programs, Mundoro remains focused on high-potential copper exploration and expanding its strategic partnerships across tier-one mineral belts.

  • Kazakhstan’s President Meets Ivanhoe Mines’ Robert Friedland to Discuss Copper Exploration in Kazakhstan

    Kazakhstan’s President Meets Ivanhoe Mines’ Robert Friedland to Discuss Copper Exploration in Kazakhstan

    On 28 May 2025, the President of Kazakhstan received Robert Friedland, Executive Co-Chairman of the Board of Directors of Ivanhoe Mines Ltd., to discuss prospects for cooperation in geological exploration, metal mining, and processing.

    During the meeting, Friedland informed the President about the launch of large-scale exploration activities in Kazakhstan’s Chu-Sarysu copper basin. Ivanhoe Mines has committed an initial $18.7 million for subsurface studies in the region, with total investments expected to rise to $115 million over the next four years.

    Friedland highlighted that the project will utilize advanced airborne geophysical technologies and digital data analysis to unlock Kazakhstan’s untapped copper resources. He described the initiative as one of the most ambitious copper exploration campaigns in Kazakhstan’s history and noted its potential to reshape the global copper supply landscape.

    The meeting underscored Ivanhoe Mines’ long-term vision for the region and emphasized the strategic importance of high-tech exploration methods in discovering and developing critical mineral assets.

  • Metals One Acquires FinnAust Mining Finland to Boost Copper Exploration

    Metals One Acquires FinnAust Mining Finland to Boost Copper Exploration

    Metals One has entered into a share purchase agreement with 80 Mile to acquire the entire issued share capital of FinnAust Mining Finland, a special purpose vehicle (SPV) that holds several key licenses, including the Hammaslahti copper-zinc project and the Outokumpu copper project in Finland. These projects are linked to historic copper mines, and this acquisition will significantly enhance Metals One’s exposure to copper in a Tier-1 jurisdiction.

    As part of the agreement, 80 Mile will retain all rights to any associated industrial gases, including helium and hydrogen, from the projects. Metals One plans to conduct drilling tests at Hammaslahti later this year after identifying significant sulphide mineralisation, while also advancing geophysical surveys at Outokumpu in preparation for drilling.

    Metals One CEO Jonathan Owen expressed enthusiasm about the acquisition, stating, “This is an exciting time for Metals One. With the backing of new investors, the company is preparing to advance these two highly prospective copper exploration projects. Considering the historical expenditure on the licences, we believe significant value appreciation can be achieved with relatively modest exploration spend.”

    Following the completion of the transaction, board changes are expected, with 80 Mile having the right to appoint a director to Metals One’s board if it retains at least 10% of voting rights. The transaction is currently pending consent from net smelter royalty holders on the licenses and regulatory approval in Finland, which is not anticipated to be formally required.

    80 Mile managing director Eric Sondergaard noted that this divestment represents a key milestone for 80 Mile as it refocuses on emerging energy commodities, particularly industrial gases. He stated, “While the copper assets in Finland hold strong potential, our retained rights over industrial gases allow us to continue participating in any upside from future discoveries in this evolving sector.”

    The Hammaslahti project is recognized for its volcanogenic massive sulphide mineralisation, with historical production yielding substantial amounts of copper, zinc, gold, and silver. Drilling by 80 Mile has uncovered extensions to the ore body and identified high-grade massive sulphides. Meanwhile, the Outokumpu copper project is located along the Outokumpu Copper Belt, where six drill-ready targets have been identified that could potentially host high-grade copper deposits adjacent to a former operating mine.

    In July 2021, Bluejay divested its nickel, zinc, copper, and cobalt projects in Finland to Metals One.

  • Ivanhoe Mines and Pallas Resources Launch Major Copper Exploration in Kazakhstan

    Ivanhoe Mines and Pallas Resources Launch Major Copper Exploration in Kazakhstan

    Canadian mining company Ivanhoe Mines and UK-based Pallas Resources have announced a joint venture for geological exploration in the Chu-Sarysu Copper Basin in Kazakhstan, according to Interfax-Kazakhstan.

    The Chu-Sarysu Basin is the third-largest sedimentary-hosted copper basin in the world. Experts predict that this project could lead to one of the biggest copper discoveries in Central Asia in recent decades.

    The companies have secured the largest exploration license package in Kazakhstan, covering 16,000 square kilometers—a scale comparable to Ivanhoe Mines’ past exploration projects in Mongolia and the Democratic Republic of Congo.

    According to Robert Friedland, founder of Ivanhoe Mines, Kazakhstan has the potential to become a global hub for copper production. The U.S. Geological Survey estimates that the Chu-Sarysu Basin holds up to 25 million tons of copper resources.

    While the exact start date for exploration has not been disclosed, the companies plan to invest $18.7 million in the first two years. The project will utilize advanced airborne geophysical technologies and digital data analysis, elevating Kazakhstan’s geological exploration to a new level.

  • Newmont Expands Stake in Ariana Resources to Strengthen European Exploration

    Newmont Expands Stake in Ariana Resources to Strengthen European Exploration

    Newmont (TSX: NGT) (NYSE, ASX: NEM), the world’s largest gold miner, has increased its stake in UK-based Ariana Resources (AIM: AAU) by acquiring an additional 28.88 million shares for $871,000. This follows a $2.5 million investment in 2022, forming an alliance to advance copper and gold exploration in southeastern Europe.

    The alliance, now in its third year, is managed by Western Tethyan Resources (WTR), a Kosovo-based company in which Ariana holds a 76% interest, with technical support from Newmont. WTR has secured multiple exploration licenses across Kosovo, North Macedonia, Bosnia and Herzegovina, Bulgaria, Greece, and Serbia.

    Ariana’s managing director, Kerim Sener, stated that Newmont’s increased investment demonstrates a firm commitment to advancing projects in the region. The alliance has already conducted geological, geochemical, and geophysical surveys, leading to new exploration license applications and the identification of promising targets. Initial drill testing at the Hertica project has confirmed a copper-gold-molybdenum mineralized system.

    Under the alliance agreement, Newmont has the option to further invest $1 million over the next two years to acquire a 60% stake in any new WTR project. An additional $15 million investment in a pre-feasibility study could raise its stake to 75%. If Newmont proceeds with full-scale development, it can secure up to 85% ownership, with WTR retaining a 2% net smelter return if its interest falls below 10%.

    Beyond its interest in WTR, Ariana also holds gold assets in Zimbabwe, including the 1.83-million-ounce Dokwe project, and a 23.5% stake in a Turkish joint venture with the Kiziltepe mine and Tavsan and Salinbas projects. Additionally, it owns 61% of Venus Minerals, which operates copper exploration projects in Cyprus.