Exploration

Exploration activities at the Morvarid Iron Ore Mine commenced in 2005 and have continued uninterrupted to the present day. This long-term, systematic program has generated high-quality geological and structural datasets, enabling robust tectonic interpretation, reliable orebody modeling, and block modeling with a low level of uncertainty. As a result, geological risk has been significantly reduced, and confidence in reserve estimation and mine planning has been substantially improved.

These exploration efforts have established a transparent, data-driven understanding of the mine’s mineral endowment, providing a solid technical basis for production planning, future expansion, and investment decision-making.

In 2018 (1397), the company was awarded the title of National Outstanding Mineral Explorer of Iran. It was also selected as National Outstanding Mining Operator in 2007 (1386) and 2009 (1388). At the provincial level, the company was recognized as Outstanding Mining Operator of Zanjan Province in 2008, 2010, 2011, and 2012 (1387, 1389, 1390, and 1391).

Exploration at the Morvarid Iron Ore Mine has been designed and implemented through four distinct yet continuous phases. Each phase has played a critical role in expanding proven reserves, upgrading resource confidence, and advancing the geological understanding of the deposit:

Phase I – Establishment of the geological framework and initial reserve growth (2006–2013)

Phase II – Deep exploration and confirmation of IOCG-style mineralization (2018–2020)

Phase III – Re-evaluation of previous models, refinement of resource estimates, and delineation of inferred and probable resources (2020–2025)

Phase IV – Advanced deep exploration aimed at upgrading inferred and geological resources into proven reserves (2025–2030)