Canadian mineral exploration company Genius Metals secured an option agreement to acquire 100% of the Tifernine Copper Project in Morocco, according to a report from Mining Technology on Friday.
The move aligns with the company’s strategy to expand its asset base in North Africa, which already includes the nearby BMR project.
Under the agreement, Genius Metals will pay CAD 250,000 in cash and commit to CAD 225,000 in capital expenditures over the next three years.
The company will operate the Tifernine Copper Project during the option period and can expedite the acquisition by fulfilling payment and exploration requirements ahead of schedule.
The Tifernine project covers approximately 16 square kilometers and is situated southeast of Ouarzazate, around 10 kilometers from Genius Metals’ BMR property.
The geological features of the site include an Ediacaran rhyolitic and andesitic complex, intersected by faults, offering strong potential for copper exploration.