Assay Results Confirm Anomalous LCT Pegmatites at Bullabulling Project, WA

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”), an advanced mineral explorer focused on high-value clean energy metals is pleased to announce it has identified potential LCT mineralisation at the Company’s 100%-owned Bullabulling project. The LCT-pegmatite potential was confirmed through the return of assays from the Company’s 2023 field program in which 69 rock chip samples were collected and submitted for assay. Additionally, the field program returned a high-grade gold result, affirming the project’s prospectivity for gold.

Key Highlights

• Anomalous rock chip assays returned for lithium and pathfinder elements associated with potential Lithium-Caesium-Tantalum (“LCT”) pegmatites identified during geological mapping of Belararox’s 100% owned Bullabulling project:
  • Rock chip assays of fractionated pegmatite returning 2,444 parts per million (ppm), lithium oxide (Li2O) and anomalous pathfinder elements caesium (Cs) 196 ppm, and rubidium (Rb) 982 ppm.
  • Several separate pegmatite systems returning anomalous rubidium values, exceeding 500 ppm, in fractionated pegmatites within favourable mafic metamorphic rocks adjacent to the Bali Monzogranite.
  • Very high grade gold (Au) assays from historical workings showing grades of up to 11.95 g/t Au in vuggy gossanous quartz material associated with mafic basalts and amphibolites in a similar structural setting to the adjacent Bullabulling goldfield.
• Future work:
  • Systematic surface sampling of the most prospective targets in 2^nd half of 2023.
  • With follow-up drilling planned to test higher grade targets from this work.

Initial results from rock chip assays are very encouraging and highlight the lithium and gold prospectivity of the project and the Company is keen to progress exploration in the 2nd half of 2023 to unlock further potential of the project.

Background

Belararox holds the Bullabulling Project which is comprised of 26 wholly owned tenements covering an area of approx. 50 km² to the west of Coolgardie in the Eastern Goldfields of Western Australia. The company is pleased to announce anomalous rock chip assay results for both lithium and gold from the recently completed geological mapping and sampling of the project. Figure 1 highlights anomalous samples of in-situ pegmatites identified across the project area.

Lithium

Rock chip assay results from recently mapped pegmatites have returned elevated lithium (Li) and Rb values. Lithium (Li) values were converted to lithium oxide (Li2O) using the standard conversion ratio of 2.153. Rubidium in particular shows widespread anomalism in these pegmatites and is considered a good pathfinder element for the identification of fertile LCT pegmatites. Elevated lithium values are more localised, which is attributed to the highly weathered nature of the rock chip samples and the corresponding higher mobility of lithium in this type of material.

The most significant rock chip assay results include:

• BBGS029 − 196ppm Cs, 2,444 ppm Li2O, and 982 ppm Rb located in the south of the project adjacent to the Bali Monzogranite.
  
• Anomalous Rb values in an extensive pegmatite system along trend to the south of Ubini with several values approximating or exceeding 500 ppm, including: BBGS004 @ 577 ppm Rb, BBGS006 @ 496 ppm Rb, and BBGS010 @ 573 ppm Rb.
• Several discrete pegmatites located in the western portion of the project, more distal to the Bali Monzogranite and in favourable mafic metamorphic rocks, showing anomalous Rb values including: BBGS061 @ 839 ppm Rb, BBGS059 @ 676 ppm Rb, BBGS037 @ 750 ppm Rb.
• There is a general correlation between anomalous rubidium and elevated tantalum values.

The widespread distribution of these pegmatites, with both anomalous Li and Rb, is considered very encouraging and suggests the broader Bullabulling Project area is host to a potentially significant LCT pegmatite district. The first assessment to date, pending further technical evaluation, is that the sampled pegmatites on the eastern side of the Bullabulling project are likely to be staged first for the ground follow- up soil sampling.

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