Ibero Mining CEO Karim Rayani joined Steve Darling from Proactive to provide an update on the company's exploration activities at the Miguel Vacas Project, where recent drilling results have confirmed significant depth extensions of the known mineralization. Drill hole 11 revealed a 19.9m intercept grading 0.89% Cu, including 5.0m at 1.35% Cu and 6.2m at 1.11% Cu, expanding the potential of the resource.
Rayani emphasized that field observations indicate the mineralized system extends over 2 kilometers, though only a small portion of this strike length has been drilled. The company plans to conduct further drilling to complete a formal resource calculation, targeting a 20Mt deposit from near surface to a depth of 200m. Drilling to date has successfully intersected a wide breccia zone over a 1.1km strike length, confirming the system remains open at depth and along strike in both directions.
Ibero Mining will also carry out additional ground IP surveys to refine mapping and delineate deeper mineralized zones, particularly beneath the oxidative blanket at 150–300 meters depth. The company is gearing up for a second phase of exploration drilling in the new year, with Rayani expressing optimism about unlocking the full potential of the Miguel Vacas Project. "We are excited by the consistency of the mineralized grades and look forward to further defining this resource," he stated.