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Roboto

at the Azrar Project will include follow-up geological mapping and sampling of prospective targets described above, supported by a ground-based magnetic geophysical survey and trenching over the Tifrit copper-gold target to define future drill targets. In addition, traverse mapping and sampling will be undertaken over structural targets defined from remote sensing data analysis to refine the geological model and prioritise targets.

A "new" copper - silver - gold and poly-metallic frontier.

Primarily targeting Copper – Silver, in addition to Au, Sn, Zn & Pb

Projects are located mainly in the Anti-Atlas Mountains, as well as the High Atlas and Central Morocco.

The Anti-Atlas is highly prospective for sedimentary-hosted copper.

: up to 7.02 % Cu from sediments, over 32 km of mineralised strike

: up to 4.43 % Cu from quartz-carbonate vein swarm

: initial assay grades up to 3.41 % Cu and 56 g/t Ag in breccia and 1 % Cu and 16 g/t Ag from ferruginous stratiform sample. 0.82 g/t Au and 0.63 % Cu over 9.0 m from surface chip channel targeting northerly strike quartz veins

: up to 170 g/t Ag and 22.2 % Pb from quartz veins and fault beccias

The Company acquired line data, in 2024, covering over 250 km2 from historical airborne geophysical surveys flown over the Tata and Azrar Projects from the Ministry of Energy, Transition and Sustainable Development in Rabat, Morocco. The surveys were flown in 1998-1999 by Geoterrex Dighem Pty., collecting magnetometry, gamma-spectrometry, and multi-frequency electromagnetic data. This data has been reprocessed and reinterpreted as part of an ongoing target generation exercise over the projects.

 – Five priority targets covering a cumulative 11.4 km2 area.

Tifrit copper-gold target: 0.82 g/t Au and 0.63 % Cu over 9.0 m from surface chip channel targeting northerly strike quartz veins, including : 0.70 g/t Au and 0.55 % Cu over 7.6 m from 0 to 7.6 m along the channel, and 2.97 g/t Au and 2.00 % Cu over a 0.7 m interval from 8.3 m to 9.0 m.

These results and previously announced samples (per the announcement of 31 January 2024) indicate this gold-copper target zone’s potential strike length to be 3.8 km. 

Ougri sedimentary-hosted copper target: Up to 2.92 % Cu and 16 g/t Ag from rock chip samples over an 800 m strike length of a 1.4 km basal Adoudou Formation target. Izarzar fault zone hosted copper target: Up to 1.37 % Cu and 6 g/t Ag from a variably mineralised fault zone with an apparent width of up to 13.25 m within folded Adoudou Formation sediments.

The Azrar Project is one of Aterian’s four high-priority copper projects in Morocco and potentially offers Aterian a large-scale copper development opportunity. Azrar occurs approximately 155 km southeast of the port city of Agadir and 45 km east of the Tizert copper-silver project.

The reported copper (Cu) grades are considered economic, given the current metal prices, and align with our expectations for advancing a significant-scale project that demands target generation and drilling. The silver (Ag) and gold (Au) mineralisation has positively surprised us with the extent and grade for both elements and appears to be part of a larger geological fault system demanding further investigation.

A portfolio review is ongoing to remove non-core permits and projects, allowing the Company to maintain its focus on the key priority projects, namely Agdz, Azrar, Tata, and Jebilet Est.

The addition of silver and gold as potential by-products is encouraging and improves Aterian’s likelihood of achieving its objective of finding a joint-venture partner to advance the project at minimal cost to Aterian shareholders.

The proximity and geological similarities of the nearby Tizert Copper Mine, developed and operated by Managem, are highly encouraging.

The AZRAR Project