Altoro Metals Limited (ASX:VAR), formerly known as Variscan Mines Limited, today announced that its change of company name has become effective following shareholder approval at a General Meeting held on 10 July 2026. The company’s ASX code is set to change to “ARO” from Thursday, 23 July 2026, in accordance with ASX regulations. Altoro Metals Limited is an ASX-listed exploration company focused on advancing a portfolio of zinc and polymetallic projects in Spain. Its flagship Novales-Udías Project encompasses the former-producing San José underground mine and a broader mineralised district with substantial exploration potential.
The rebrand to Altoro Metals reflects the company’s evolution and its expanded focus across a portfolio of zinc and polymetallic projects situated in Spain. This strategic shift coincides with Altoro entering a period of heightened exploration activity, significantly supported by a recently completed $5 million capital raising.
A substantial programme of work is set to commence across the company’s Spanish assets. Maiden diamond drilling at the Guajaraz Zn-Pb-Ag-Cu Project is anticipated to begin shortly. This five-hole drilling programme, totalling approximately 1,430 metres, is designed to test high-priority zinc-polymetallic targets, including potential deeper carbonate-hosted replacement-style mineralisation. These activities will run concurrently with ongoing underground and surface exploration programmes at the flagship Novales-Udías Zinc Project, as Altoro seeks to expand its mineralised footprint.
Altoro’s Chairman, Tony Wehby, commented that the transition marks an important milestone. He added that with a strengthened balance sheet and multiple exploration programmes advancing across its Spanish portfolio, the new name better reflects the breadth of Altoro’s assets and its ambition to build a substantial European-focused base and critical metals company. The company looks forward to updating shareholders as drilling and exploration activities progress.
