Major copper-gold reserves discovered near Reko Diq, Balochistan

KARACHI (Staff Report): Mari Energies Limited has announced a major copper-gold discovery in Chagai, Balochistan, marking a significant development for Pakistan’s mineral sector after Reko Diq.

In a Material Information disclosure to the Pakistan Stock Exchange on Friday, the company said its wholly-owned subsidiary, Mari Minerals (Pvt) Limited, discovered porphyry copper-style mineralization at the East Siah Diq (ESD-1) target.

According to the disclosure, the discovery is located 50 km east of the world-class Reko Diq copper-gold project and 25 km northwest of Nok Kundi in the Koh-i-Sultan region.

Mari Minerals has completed nearly 25,000 meters of exploration drilling in two phases at ESD-1. All drill holes are vertical with a length of 500 meters.

The company said drilling intersected mineralization beneath 100 meters of unconsolidated cover, spread over an area of 1.4 square kilometers.

“Based on results to date, ESD-1 is a new porphyry copper discovery,” the company stated in its filing.

Sample preparation and assaying was carried out by SGS Pakistan. The company said it followed an industry-standard QA/QC program including certified reference materials from OREAS, Australia.

Mari Energies clarified that further work is required to determine the scale and economic viability of the discovery. This will include deeper step-out drilling from 500 meters to 1000 meters, geological interpretation, metallurgical testing and resource estimation.

Assay results for Phase 1B are expected in the first quarter of 2027.

The technical information was reviewed by Dr. John Mortimer of JM Geoscience Pty Ltd, a Qualified Person under NI 43-101 with over 40 years of experience.

The discovery is being seen as a major boost for Pakistan’s mining sector, which is currently centered around the $7 billion Reko Diq project operated by Barrick Gold.