MMG has identified a highly prospective copper target at its Dugald River operation, marking an important development in its exploration program.
The target, known as Wallaroo, is located approximately 600 metres south of existing mining operations. It represents a copper system distinct from Dugald River’s existing zinc-lead-silver orebody, demonstrating the potential to introduce a new metal stream at the operation.
“Copper’s role in the energy transition is well established, with strong long-term demand. These exploration results are exciting and point to potential beyond Dugald River’s existing orebody,” said MMG CEO Ivo Zhao. “While still at an early stage, Wallaroo highlights the opportunity for near-mine exploration to create additional value over time.”
Since 2021, the MMG Dugald River team has drilled nineteen diamond holes, totalling 13,688 metres, into the Wallaroo Copper prospect. Drilling results have realised extensive anomalous copper and gold intersections, with nine of the nineteen holes drilled showing copper mineralisation. Some holes have also returned exceptionally high-grade results, +15 per cent copper, including the presence of elevated cobalt and gold.
The results highlight Dugald River’s copper potential and its prospectivity beyond the current zinc-focus. MMG will continue to assess how best to maximise the copper value at site, including further evaluation of the exploration data and potential resource definition, while maintaining strong operational performance. A diamond drilling program planned for Q3 2026 will build and test the understanding of the target.
Wallaroo forms part of MMG’s broader copper strategy, which includes a long-term focus on near-mine exploration across its portfolio to maximise value from existing operations and create long-term shareholder value. MMG’s exploration program supports its pathway to more than 700,000 tonnes of annual copper production by 2030 and its ambition to become a top 10 global copper miner.
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