Mari Energies Limited announced a significant copper-gold discovery in Balochistan's Chagai district, approximately 50 kilometres east of the Reko Diq mining project, according to a statement submitted to the Pakistan Stock Exchange (PSX) on Friday. The company said its wholly owned subsidiary had identified copper-gold mineralisation at the East Siah Diq (ESD-1) target, located about 25 kilometres northwest of Nokkundi in the Koh-i-Sultan area. According to the statement, the energy company had completed approximately 25,000 metres of exploration drilling in two phases, Phase 1A and Phase 1B, with all drill holes reaching a depth of 500 metres. The statement said drilling had identified copper mineralisation beneath approximately 100 metres of sediment, extending across an area of 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. {{pdf}} It further added that the mineralisation was primarily associated with chalcopyrite, a copper-bearing mineral, while pyrite and bornite had also been identified. The statement added that molybdenum mineralisation had been observed in selected drill holes, along with green and blue copper oxide minerals in some areas. The company said laboratory analysis of samples from the first drilling phase had been completed, while testing of samples from Phase 1B was underway and expected to be completed during the first quarter of 2027. According to the statement, SGS Pakistan had carried out sample preparation and testing, while certified reference materials from Australia's OREAS had been used as part of quality control procedures. Read: Reko Diq project remains on track: Barrick It said further drilling would be conducted to assess mineralisation at greater depths, potentially reaching 1,000 metres. The company added that an initial geological model and resource estimate would be developed using results from both drilling phases. However, it cautioned that additional drilling, geological studies, metallurgical testing and resource assessments would be required before the actual size, quality, economic significance and development potential of the discovery could be determined. The statement said the exploration results did not yet constitute a formally established mineral resource or reserve. The technical information was reviewed and approved by Dr John Mortimer of JM Geoscience Pty Ltd, who has more than 40 years of experience in mineral exploration. It said further updates on exploration progress, laboratory results and technical assessments would be provided in subsequent disclosures.