Aterian (LSE:ATN) said initial fieldwork at its 85%-owned Azrar copper-silver project in Morocco has identified multiple copper showings and substantially expanded the known mineralisation footprint at the Amane target.
The London-listed Africa-focused critical metals explorer and trader said the work is fully funded under its AI-driven joint venture with Lithosquare SAS, the Paris-based geological analytics firm that holds the remaining 15% of the project.
Mapping of just 4 of the 22 planned traverses has already identified copper showings across an apparent 1.60 km strike length within what is now a 2.50 km long Amane target, up from the previously discovered footprint.
New stratabound copper showings have apparent thicknesses of up to roughly 7m at Amane West and 2m at Amane North, and historic workings tied to visible copper mineralisation have also been found.
Azrar sits in Morocco's Western Anti-Atlas, roughly 45km east of Managem Group's Tizert copper-silver project, though Aterian said mineralisation at Tizert is not necessarily indicative of what lies at Azrar.
The Lithosquare joint venture, completed in June, commits Lithosquare to invest €1m to fully fund Aterian's 2026 work programme across nine projects in Morocco and Botswana, earning an initial 15% participating interest and a 0.5% net smelter return with scope to increase both through milestones.
"The initial mapping results strengthen Azrar's exploration potential by expanding the known copper mineralisation footprint at Amane and identifying multiple copper showings, including in previously unexplored areas," said Charles Bray, Aterian's executive chairman, adding that "these results are highly encouraging, although the continuity and full extent of the mineralisation remain to be determined."
At the Tifrit target, previously undiscovered stratabound copper mineralisation has been identified within basal conglomerate and sandstone beds, traced laterally over 50m with apparent widths of 3m.
Access preparation and logistical work are underway ahead of scout drilling anticipated in the fourth quarter, alongside engagement with local stakeholders and communities.
Hyperspectral data acquisition is also ongoing across the project, with results to be integrated with existing datasets and AI-enabled technology used to rank and prioritise drill targets.
The Azrar work follows similar Lithosquare-backed activity at Aterian's Agdz prospect, where expanded ground magnetic surveying earlier this quarter identified priority copper-silver targets and kilometre-scale fault corridors, with trenching results expected before the end of the third quarter.
Bray said the company is "engaging with local drilling contractors ahead of scout drilling in Q4 2026."
