Aterian plc (LSE: ATN), the Africa-focused critical metals exploration, development and trading company, has announced the imminent commencement of an 800-metre scout Reverse Circulation drilling programme at its 85%-owned Azrar Copper-Silver Project in Morocco's Western Anti-Atlas. The programme is fully funded through the joint venture with Paris-based AI and geoscience company Lithosquare SAS, which holds a 15% interest in the project. The drill rig has been mobilised to site, with access upgrades and drill pad preparation already under way, marking a tangible step forward in Aterian's exploration activities under the Lithosquare partnership.

Key Points

  • Aterian plc (LSE: ATN) is an Africa-focused critical metals exploration and development company listed on the London Stock Exchange
  • An 800-metre scout RC drilling programme is set to commence imminently at the 85%-owned Azrar Copper-Silver Project in Morocco
  • Historic composite point rock chip samples at the priority target returned up to 3.41% copper with 56 g/t silver; the target comprises an approximately 1 km-long mineralised fault zone
  • Investors will be watching for drilling results to assess mineralisation continuity and subsurface extent, which will guide the next phase of exploration

Azrar Project: 85% Aterian Interest in a 76.9 km² Moroccan Copper-Silver Licence

Aterian holds an 85% interest in the 76.9 km² Azrar copper-silver project located in Morocco's Western Anti-Atlas region, approximately 45 kilometres east of Managem Group's Tizert copper-silver project. The Anti-Atlas Belt is considered prospective at district scale, though the announcement notes that mineralisation at neighbouring deposits is not necessarily indicative of mineralisation at Azrar. Lithosquare SAS, a Paris-based firm combining AI and geoscience capabilities, holds the remaining 15% interest and is funding the current exploration programme through the joint venture structure.

800-Metre RC Programme Targets Approximately 1 km-Long Mineralised Fault Zone at Depth

The scout drilling programme will focus on a priority target comprising an approximately 1 km-long mineralised fault zone and surrounding prospective sediments within the Adoudou Formation. Historic composite point rock chip samples from the area returned up to 3.41% copper with 56 g/t silver, providing the geological basis for the subsurface test. The programme's objectives include intersecting mineralisation of economic potential, understanding continuity of copper-silver mineralisation at depth, identifying the subsurface extent of gossanous material observed at surface, and generating geochemical datasets to prioritise additional targets.

Lithosquare JV Fully Funds Programme as Rig Mobilisation Confirms Exploration Momentum

The 800-metre programme is fully funded through the Lithosquare joint venture, with no additional funding requirement disclosed from Aterian's own resources for this phase. Executive Chairman Charles Bray stated in the announcement that the partnership is "translating exploration plans into activity on the ground" and described the programme as giving Aterian "a strong platform to pursue discoveries and build value across its exploration portfolio." The technical disclosure has been approved by CEO Simon Rollason, a geology graduate with over 30 years of experience in mineral exploration and mining, acting as Qualified Person.

Aterian's Broader African Portfolio Spans Morocco, Botswana, and Rwanda

Beyond Azrar, Aterian holds a 90% interest in Atlantis Metals, a Botswana-registered company with eleven mineral prospecting licences for copper-silver in the Kalahari Copperbelt and three licences for lithium and salt brine exploration. The company also holds two exploration licences in Rwanda, where it is evaluating tantalum, niobium, and pegmatite-hosted lithium opportunities. Investors may be watching whether drilling results at Azrar strengthen the investment case across this diversified critical metals portfolio, as global demand for copper and associated metals continues to be driven by the energy transition.