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Belararox Limited (ASX:BRX) focuses on its 100-percent-owned base and precious metals projects, targeting zinc, copper, gold, silver, nickel and lead resources to be a significant contributor to help meet the world’s growing demand for battery and renewable energy metals.
Belara, the company’s flagship project in New South Wales, has an inferred resource estimate of 5 million tonnes of base and precious metals. Belararox also recently acquired a new asset in Argentina, which the company will soon begin exploration work on.
The company has completed Phase 1 drilling, confirmed historical mineralizations, and upgraded the JORC-compliant inferred resource estimate at its flagship Belara asset. The updated resource estimate resulted in a 100-percent increase in mineralized tonnes, a 65-percent increase in copper, and a newly defined 33,762 ounces of gold. The company is now moving towards Phase 2 drilling.
Company Highlights
- Belararox Limited is a mineral exploration and development company focussing on its 100-percent-owned precious and base metal assets.
- The company’s focus on battery metals creates an opportunity to gain access to funding from the Australian government, which is investing in mining projects to reach its 2030 net-zero goals.
- Belara, the company’s flagship asset, has an inferred resource of 5 million tonnes of base and precious metals, including zinc, lead, copper, silver and gold.
- Belararox Limited will soon begin the next phase of drilling at Belara.
- The company’s secondary Bullabulling project in Western Australia has a planned drilling campaign for 2023.
- Belararox’s recently acquired TMT project in Argentina includes untested assets and will soon begin exploration work.
- An experienced board and management team leads the company towards exploring and developing its asset portfolio with expertise throughout the mining industry.
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BRX:AU
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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