- National Resources Limited says it has identified copper and gold deposits at eight sites in Chagai.
- Mari Energies reports a new porphyry copper discovery at East Siah Diq, about 50 km east of Reko Diq.
- Neither find is yet a formally established mineral resource or reserve.
- Further drilling, studies and resource estimates are planned by both companies.
Two companies announced new copper-gold discoveries in Balochistan's Chagai district on Friday, each following around 25,000 metres of exploration drilling.
Both companies said the size of their finds has yet to be established.
NRL reports deposits at eight sites
National Resources Limited (NRL) said it had identified copper and gold deposits at eight sites in Chagai. The company is now working towards its first estimate of the area's mineral resources.
Chairman Muhammad Ali Tabba told the Pakistan Minerals Investment Forum 2026 that one drill hole revealed a 295-metre stretch containing 0.43 per cent copper and 0.13 grams of gold per tonne. Within it, a 132-metre section showed a higher copper concentration of 0.83pc.
The discoveries cover 5.6 square kilometres in Darigwan, next to the company's earlier Tang Kaur copper-gold find. Tabba said further work at exploration licence EL214 should help establish the extent of the deposits, subject to completing exploration and a formal resource assessment.
The people of Balochistan must share in the opportunities created by their mineral wealth,
Muhammad Ali Tabba, Chairman, National Resources Limited
Mari Energies identifies East Siah Diq
In a statement to the Pakistan Stock Exchange, Mari Energies Limited said its wholly owned subsidiary had found copper-gold mineralisation at the East Siah Diq (ESD-1) target. The site lies roughly 50 kilometres east of Reko Diq and about 25 kilometres northwest of Nokkundi, in the Koh-i-Sultan area.
The company completed about 25,000 metres of drilling in two phases, with every hole reaching 500 metres. Copper mineralisation was found beneath roughly 100 metres of sediment, spread over about 1.4 square kilometres.
"Based on the results of drilling completed to date, ESD-1 is a new porphyry copper discovery," the company said. It added that the mineralisation is mainly linked to chalcopyrite, with pyrite and bornite also present. Molybdenum was seen in selected holes, along with green and blue copper oxide minerals in some areas.
| Detail | NRL | Mari Energies |
|---|---|---|
| Location | Darigwan, next to Tang Kaur (EL214) | East Siah Diq (ESD-1), Koh-i-Sultan area |
| Drilling | Nearly 25,000 metres | About 25,000 metres, all holes 500 m deep |
| Area | 5.6 sq km | About 1.4 sq km |
| Metals | Copper and gold | Copper-gold, with some molybdenum |
| Status | Maiden resource estimate in preparation | Not yet a formal resource or reserve |
Caution on the size of the finds
Mari Energies said the results do not yet amount to a formally established mineral resource or reserve. More drilling, geological studies, metallurgical testing and resource assessments are needed before the actual size, quality and development potential can be judged.
NRL said an independent consultant has prepared preliminary resource estimates, but it is withholding them until it meets international reporting requirements. It is working on a maiden resource estimate to those standards.
Local expertise and investment
NRL is a joint venture of Fatima Fertilisers, Liberty Mills and Lucky Cement Ltd. It holds five exploration licences in Balochistan, covering two copper-gold projects, one lead-zinc project and two antimony projects.
Tabba reaffirmed the company's earlier commitment of $100 million to mineral exploration in Pakistan and invited investors and service providers to take part. He said Baloch geologists are working alongside international consultants, while Pakistani contractors carry out inclined drilling, and that the technical workforce is almost entirely local.
NRL has also partnered with the Lahore University of Management Sciences (LUMS) on a predictive artificial intelligence model to speed up exploration. Separately, it is supporting education and community development through the newly established Chagai Foundation.
NRL plans environmental, hydrogeological, metallurgical and geotechnical studies in 2027, aiming to complete a bankable feasibility study by the end of the decade. Mari Energies expects testing of Phase 1B samples to finish in the first quarter of 2027, and plans deeper drilling, potentially to 1,000 metres, along with an initial geological model and resource estimate.
Questions and answers
Where are the new copper-gold discoveries?
Both are in Balochistan's Chagai district. NRL's finds are at Darigwan, next to its Tang Kaur site, while Mari Energies' discovery is at East Siah Diq, about 50 km east of Reko Diq.
Are these confirmed mineral resources?
No. Mari Energies said its results are not yet a formally established resource or reserve. NRL is still working towards its first resource estimate under international standards.
What happens next?
NRL plans further studies from 2027 and a bankable feasibility study by the end of the decade. Mari Energies will continue laboratory testing and plans deeper drilling and an initial resource estimate.
