Megado Minerals (ASX:MEG) secured a five-year option to acquire the expansive 576km2 Alpartir Silver-Copper-Antimony Project, situated in the Province of Zaragoza, Aragón, Spain.
The strategic move allows Megado full discretion to conduct comprehensive exploration and development activities on the property before finalising the acquisition.
The Alpartir Project is recognised as a very high-grade, structurally controlled Ag–Cu–Sb vein system featuring historical underground production spanning multiple locations.
Documentation of historical mines extends over a distance of more than 36km, with permits covering the full extent of these workings and the surrounding prospective geology.
Historical rock chip sampling previously conducted by Asturiana de Zinc highlighted exceptional silver grades exceeding 1,000 g/t Ag and copper grades surpassing 5% Cu.
Specific assay highlights from this sampling include sample A-29 from Alpartir, which returned 1,432 g/t Ag, 3.93% Cu, and 1.89% Sb. Another sample, A-25, returned 990 g/t Ag and 7.57% Cu.
In conjunction with this acquisition option, Megado announced that experienced Spanish geologist and mining executive Lachlan Rutherford will join the board as executive director.
At the time of reporting, Megado Minerals' share price was $0.030.