EuroPacific Metals has announced promising drill results from its Miguel Vacas copper project in Portugal, indicating a potentially significant development in European copper exploration. The company's CEO, Karim Rayani, shared that recent drilling efforts have revealed high-grade copper mineralization, reinforcing the project's viability as a substantial copper resource. A notable 350-meter drill hole intersected a mineralized section of 10.5 meters grading 2.56% copper, including an exceptional 5.9 meters grading 4.52% copper. This discovery is located near a previous hole that had shown 22.8 meters grading 2.76% copper, including 9.0 meters grading 7.49% copper.
The Miguel Vacas mine area, positioned approximately 180 kilometers east of Lisbon, has demonstrated a mineralized system extending at least 2 kilometers along strike, with the system remaining open at depth. This suggests the possibility of further discoveries. The mineralization is found within a polymict breccia with a quartz-carbonate matrix, alongside quartz, grey shales, and graphitic phyllite clasts, oriented in a north-northeast to south-southwest direction.
These findings are of particular importance to the European copper industry, where high-grade copper deposits are becoming increasingly scarce and valuable. The strategic location of the Miguel Vacas project within Portugal, a stable jurisdiction in the European Union, enhances its significance in securing a domestic copper supply for European industries. EuroPacific Metals is proceeding with additional drilling in the northern and southern areas to assess the extent of the oxidative blanket and facilitate a detailed resource calculation, which is essential for evaluating the project's economic potential.
Rayani has highlighted the project's promise, referring to it as "one of the richest copper ventures on the peninsula", emphasizing its role in European mineral exploration and potential copper production. Copper is a critical component in electrical equipment, construction, and renewable energy technologies, with demand expected to rise as the world shifts towards cleaner energy sources and electric vehicles. The development of high-grade copper deposits like Miguel Vacas could be pivotal in meeting this growing demand.
For investors and industry observers, the advancements at Miguel Vacas present an opportunity to monitor the emergence of a potentially major copper resource in a geopolitically stable area. The project's progress may influence the European copper supply chain, possibly decreasing dependence on imports and bolstering Europe's standing in the global copper market. As EuroPacific Metals continues its exploration and drilling activities at Miguel Vacas, forthcoming data will likely offer more precise resource estimates and a better understanding of the project's overall potential, attracting attention from those invested in the future of copper production in Europe and the broader mining sector.
