Megado Minerals begins drilling at Iberian Copper Project

• Megado Minerals has commenced its maiden diamond drilling programme at the Iberian Copper Project in northern Spain.
• The company's share price remained unchanged following the execution of the initial subsurface exploration programme.
• The campaign targets depth and lateral extensions of historical copper mines to identify deeper copper sulphide systems.

Megado Minerals (ASX:MEG) has commenced diamond drilling at the Iberian Copper Project in Spain across a 956km2 permit area.

This activity marks a shift from target generation to active testing, following geophysical programmes completed by the business last year.

The company stated that the current programme involves drilling six to nine holes for a total of 1,500m to 2,000m.

Management noted that the project covers 12 historic mines across a 185km strike length.

Following the announcement, the Megado Minerals share price was unchanged at $0.02.

The enterprise previously raised $1.7 million in April to fund its exploration work within the European critical minerals sector.

The firm also holds an option to acquire an 80% interest in the nearby Alpartir Silver-Copper Project.