Metal Bank has announced the acquisition of surface exploration rights for Area 47 in Jordan, an area with significant potential for copper and molybdenum mineralization. This move is part of the company’s broader strategy for the Middle East and North Africa (MENA) region.
A recent four-day reconnaissance field program utilized ASTER remote sensing analysis and limited historical surface data to identify a 4 km² alteration zone within Area 47. This zone is considered a promising site for potential mineralization.
Exploration results have been encouraging. Of the 43 stream sediment samples collected from the target area and its surroundings, several showed anomalous levels of multiple metals. Additionally, 11 rock chip samples were assayed, revealing copper concentrations of up to 0.7%, lead up to 0.2%, and molybdenum at 37 parts per million, particularly in hydrothermal breccia, gossan, and copper oxide mineralized breccia.
Area 47 is located within the Arabian-Nubian Shield (ANS), a geologically significant region that spans the Red Sea and includes parts of Jordan.
Metal Bank is also pursuing exploration rights for Area 65. Once secured, the company plans to conduct systematic surface evaluations and detailed studies to advance all three projects—Malaqa, Area 47, and Area 65—toward drill-ready status.
Inés Scotland, Chair of Metal Bank, commented: “Area 47 is a key component of Metal Bank’s three-project strategy in Jordan. Our goal is to advance Malaqa, Area 47, and Area 65 (once granted) to drilling status simultaneously. This approach will optimize costs due to the need to import drilling equipment and teams from Saudi Arabia.”
She added, “Our MENA strategy, which includes both Saudi Arabia and Jordan, focuses on exploring highly prospective copper and critical minerals. The Southern region of the Nubian Shield, known for its world-class deposits, offers significant future opportunities for additional projects.”
