National Resources Limited (NRL) has made a significant copper and gold mineralisation discovery within its licensed area in Chagai, Balochistan, according to a filing at the Pakistan Stock Exchange (PSX) by the company’s shareholders Lucky Cement Limited and Fatima Fertilizer Company Limited.
National Resources Limited is a joint venture company with Lucky Cement and Fatima Fertilizer each holding a 33.33% share.
NRL was awarded an exploration license in October 2023 over an area which contained 18 potential prospects. Out of these 18 potential prospects, copper, silver, and gold mineralisation have been discovered at the first greenfield prospect, namely “Tang Kaur”, in a short period of 10 months by Pakistani Geologists, mainly from Balochistan.
NRL has completed 13 drill holes, all of which intersected significant mineralization. The first six drill holes discovered several strong mineralised zones, up to 148 meters in length with copper equivalent of up to 0.56%.
The company has completed 13 diamond drill holes (3,517 meters), with the first six (1,500 meters) confirming mineralized zones of 48 to 148 meters. The average grade of the intercepts ranges from 0.23% to 0.48% copper, 0.09 to 0.14 g/t gold, and 1.30 to 6.21 g/t silver, resulting in a copper equivalent of 0.28% to 0.56%. The mineralized system remains open to the north, east, and at depth.
Advanced drilling at Tang Kaur is scheduled for May 2025, leading to an NI 43-101 Technical Report by year-end. This will be followed by 3–4 years of detailed exploration, culminating in feasibility studies, while exploration of the other prospects and leases continues.
The mineralised system remains open to the north east, and at a depth that is yet to be drilled. Resource drilling will commence shortly, leading to a technical report by year-end to be prepared by internationally recognized consultants who are already monitoring the project. This will be followed by feasibility studies which would take two to three years to complete.
Additionally, NRL has also acquired a Lead-Zinc exploration license adjacent to a well-known deposit, where a Bankable Feasibility Study has already been conducted. A comprehensive Lead-Zinc value chain is also being studied to assess the feasibility of downstream processing.
NRL said it considers Indigenous populations as key stakeholders and actively supports social development through clean water, education, healthcare, and local employment/businesses. Our current ratio of local employment is above 90%. NRL fosters diversity and maintains a commitment to sustainability.
NRL is actively working with the Government of Balochistan and the Special Investment Facilitation Council (SIFC) to conduct National Copper-Gold Exploration Licenses in Chagai, Balochistan supported by a Memorandum of Understanding (MOU) with Oil and Gas Development Company Limited (OGDCL) to jointly work on new licenses. The company also plans to bring additional international investors into the project as required.