Argentine Operations Underway Directors Visit to Argentina

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”), an advanced mineral explorer focused on high-value clean energy metals, is pleased to announce that Managing Director Arvind Misra has travelled to Argentina, visiting Buenos Aries, Mendoza, San Juan, and the Toro target at the TMT Project. Exploration Director Jason Ward has moved permanently to Argentina to oversee the TMT Project.

Key Highlights

• BRX operations in Argentina fully established following a visit to Argentina by Managing Director Arvind Misra and Exploration Director Jason Ward and meetings with key Government officials, contractors, and the Condor Exploration Team involved with the Toro-Malambo-Tambo (“TMT”) Project.
• Exploration Director Jason Ward has moved to Argentina to oversee the TMT Project
• GWK SA board reorganised with Jason Ward nominated as President (CEO equivalent), Arvind Misra as Chairman and Juan Cruz Cardoso as director. GWK SA is 100% owned Argentinian subsidiary of Belararox.
• Earthworks Contractors have mobilised to the TMT Project with road rehabilitation well underway.
• BRX through its subsidiary GWK SA has established a new office in San Juan, Argentina and has appointed several key staff members on a full-time basis to oversee the execution and management of the TMT exploration program.

Managing Director Arvind Misra commented on the visit −

“BRX's operations are now firmly established after productive meetings with government officials, contractors, and the Condor Exploration Team. Jason Ward's presence in Argentina to oversee the TMT Project signifies our commitment. The GWK SA board restructure and earthworks progress are key highlights, and our new office in San Juan is poised for success. Our interactions with government officials underscore their unwavering support for our endeavors. Exciting times ahead for BRX in Argentina.”

TMT Project – Geological Context for Discovery

Figure 1: The location of the Toro-Malambo-Tambo (“TMT”) project relative to the El IndoMetallogenic Belt and the Maricunga Metallogenic Belt[1][1] = Source data (Filo Mining Corp., 2020), (E& MJ Engineering and Mining Journal, 2021), & (Barrick Gold Corporation, 2023)

The TMT project is located Argentina, near the Chile-Argentina border in an area where exploration activities have been closing the underexplored gap between the [i] El Indo Metallogenic Belt, which contains the Veladero and Pascua Lima deposits, and the [ii] Maricunga Metallogenic Belt, which contains the Filo del Sol and Josemaria deposits (refer to Figure 1).

A total of eleven (11) high- sulphidation epithermal and/or porphyry targets were highlighted in the recent desktop study that included satellite hyperspectral interpretations that delineated high- sulphidation epithermal and/or porphyry targets: for more information, please refer to the BRX ASX Release dated 23rd May 2023 and Figure 2.

Figure 2: Eleven prospective targets identified from satellite spectral imagery and geological interpretation of hydrothermal alteration zones [Modified from (Garwin, 2023): BRX ASX Release dated 23rd May 2023]

Key Stakeholder Meetings in Argentina

Key Stakeholder Meetings and events undertaken in Argentina: included

• 8th Sep BRX Managing Director Arvind Misra met with Dr Simon Twisk, Australian Ambassador for Argentina − Buenos Aries (refer to Figure 3 on page 4);
• 11th Sep BRX Managing Director Arvind Misra met with Dr Pamela Morales, Undersecretary for the Ministry of Productive Development Government of Argentina − Buenos Aries (refer to Figure 4 on page 4);
• 13th Sep BRX Managing Director Arvind Misra met with key members of the Condor Prospecting Team, in San Juan / Mendoza (refer to Figure 5 & Figure 6 on page 5, and Figure 7 on page 6);
• 14th Sep BRX Managing Director Arvind Misra and Exploration Director Jason Ward met with Marcelo Orrego, Governor-Elect of San Juan (refer to Figure 8 on page 6);
• 14th Sep BRX Managing Director Arvind Misra and Exploration Director Jason Ward met with Ricardo Martinez Chair of the Mining Chamber of San Juan (refer to Figure 9 on page 7);
• 15th Sep BRX Managing Director Arvind Misra met with the Director of Mining Mendoza Mining department;
• 18th Sep BRX Managing Director Arvind Misra met with Carlos Astudillo, Minister of Mining for San Juan (refer to Figure 10 on page 7); and
• 18th Sep − 20th Sep Managing Director Arvind Misra and Exploration Manager Arturo Guardiola went through the plans for the 2023-24 field season and visited site The Earthworks Contractor had been engaged and has mobilised to upgrade the access route to the TMT Project.

The meetings with Government officials including the Minister for Mining of San Juan Carlos Astudillo, Governor Elect of San Juan Marcelo Orrego, and Australian Ambassador to Argentina Argentineans to support the proposed exploration activities, together with Government Officials offering their unwavering commitment to providing full support.

Click here for the full ASX Release

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