Genius Metals, a Canadian mineral exploration company, has secured an option to acquire full interest in the BMR Copper-Gold Project in Morocco.
The agreement with Société Bleida Mineral Ressources SARL allows Genius Metals to become the sole operator and potentially expedite the project’s development.
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Under the terms of the option agreement, Genius Metals is committed to making cash payments totalling C$250,000 ($183,418) and fulfilling work commitments of C$225,000.
The company has the flexibility to accelerate the acquisition by completing these financial obligations ahead of schedule.
However, it also retains the right to abandon the option, forfeiting any interest in the property.
The BMR Copper prospect spans approximately 9km² southeast of Ouarzazate in the kingdom of Morocco, and is accessible via the national road N9.
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By GlobalDataThe area is known for its volcanic and volcano-clastic terrains of Ediacaran age, with historical copper and manganese workings.
The property features two primary zones of mineralisation.
To the south, a mineralised structure with a 1.2km strike length and up to 5m width is present, marked by tectonic brecciation within a shear zone. This zone includes a brecciated quartz-carbonate vein with chalcocite and malachite.
Genius Metals’ initial surface sampling has yielded high copper values up to 11.73% Cu and significant gold grades of 5.53 grame per tonne Au.
In the northern part of the property, a historical copper quarry exists, with almost 4,000 tonnes of extracted material still on-site.
The company added that an independent Canadian exploration consulting group is currently assessing the property for copper and gold potential, as it has not been previously tested for gold.
