Belararox Limited

Belararox Secures Rights to Acquire Project in the Zambian Copperbelt

Belararox Ltd (ASX: BRX) (Belararox or the Company), an advanced mineral explorer focused on high-value clean energy metals, is pleased to announce the Company has secured the potential acquisition of a 100% interest in two (2) exploration licence tenements, Solwezi East and Chantente, in Zambia from Chemopharm Limited. The tenements consist of over 17,800 hectares in the Central African Copper Belt (“CACB”), within a region close to the northern Zambian border, with exploration and mining service providers that are dedicated to servicing the copper mines and exploration projects in the region. The location of the tenures relative to Zambia’s capital city Lusaka is displayed in Figure 1 on page 3.


KEY HIGHLIGHTS

  • Belararox has signed a non-binding terms sheet with Chemopharm Limited to acquire the Solwezi East and Chantente exploration licences located in the Zambian Copperbelt.
  • The Solwezi East and Chantente exploration licences are located in the north of Zambia near the border shared with the Democratic Republic of the Congo.
  • Five (5) key copper mines surround the tenures and are located within ~175km of the tenures: Sentinel (First Quantum), Lumwana (Barrick Gold Corp.), Kansanshi (First Quantum), Kipushi (Ivanhoe Mines), and Konkola (Vendanta Resources) copper mines.
  • BRX has proposed to purchase from Chemopharm Limited, a company registered in Zambia, a 100% interest in two tenements (exploration licences) namely 19806-HQ-LEL (Solwezi East) and 19712- HQ-LEL (Chantente).
  • As part of Belararox’s ongoing technical due diligence, desktop studies and project planning are underway to validate the information from previous reports and to review copper targets.
  • The proposed strategic acquisition will complement Belararox’s existing portfolio consisting of the TMT copper project in Argentina and its Australian zinc-copper projects providing a strong value proposition for shareholders.
Neither Chemopharm nor any of its associates are related parties of, or material investors in, the Company.

The Central African Copperbelt constitutes a metallogenic province that hosts numerous world-class copper-cobalt deposits both in the Democratic Republic of the Congo (“DRC”) and Zambia (refer to Figure 3 on page 5).

Exploration Director - Argentina, Jason Ward, commented: “This acquisition of the Solwezi East and Chantente projects present a unique opportunity to explore the Zambian Copperbelt and further diversify Belararox’s portfolio of copper and base metals projects in world class metallogenic regions.”

Belararox’s Managing Director, Arvind Misra, commented: “Belararox's significant move involves a non-binding term sheet with Chemopharm to acquire Solwezi East and Chantente exploration licences in the Zambian Copperbelt, near the Congolese border. Our tenures lie within 175km of five major copper mines: Sentinel, Lumwana, Kansanshi, Kipushi, and Konkola. This enhances our copper project portfolio, demonstrating our commitment to increasing shareholder value. As part of the due diligence process, we're actively pursuing desktop studies and project planning to validate data, confirm copper results, and identify promising targets.”


Click here for the full ASX Release

This article includes content from Belararox Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

BRX:AU
The Conversation (0)
Miners filing out paperwork.

Northern Territory Finalises Mine Legacy Remediation Program

The Northern Territory's government has finalised a AU$5.5 million six month mine legacy remediation program for sites located in the Tennant Creek area, a January 9 press release states.

The next phase will involve Alice Springs, where further works are scheduled for later this year.

“Mining has been an integral part of the Northern Territory’s history for more than 150 years, but historical mining activities have left behind a range of legacy features such as open shafts, degraded infrastructure, tailings dams, and waste rock dumps,” said Gerard Maley, deputy chief minister and minister for mining and energy.

Keep reading...Show less
Asian Battery Metals PLC

High grade Massive Sulphide Intercepts Confirmed at Oval

Asian Battery Metals PLC (ABM or the Company, ASX: AZ9) is pleased to announce the remaining laboratory assay results of the 2024 Phase 2 drilling program for samples from drillholes OVD026, OVD027, OVD028, and OVD029. The details of the assays are provided in Table 1.
Keep reading...Show less
Stock chart over globe.

Canadian Markets Steady Amid Trump Tariff Speculation and Renewed Greenland Interest

Canada's main stock index gained on Wednesday (January 8), driven by strength in tech and mining stocks.

Investors continue to weigh the impact of potential US trade policy changes under President-elect Donald Trump, as well as his renewed interest in taking ownership of Greenland, an idea he first raised in 2019.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed at 25,049.66, recovering from two consecutive sessions of losses following Justin Trudeau's resignation as Canadian prime minister on Monday (January 6).

Keep reading...Show less
Stock chart with Canadian flag.

Trudeau Resigns, Canadian and US Markets React

Canadian markets showed mixed reactions following Prime Minister Justin Trudeau’s resignation.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed lower on Monday (January 6), while the Canadian dollar gained strength against the US dollar, reflecting diverging investor sentiment.

The index dropped by 142.14 points to settle at 24,995.93, marking a 0.57 percent decline from its starting point for the day. Meanwhile, the Canadian dollar rose to 69.7 cents US, reaching a near three week high.

Keep reading...Show less
Australian dollars Australian flag in the background.

5 Australian Mining Grants Open for Applications in 2025

As 2025 begins, companies in the mining sector are gearing up for another year of work.

In Australia, there are many chances for explorers and developers to access government funding at both the state and federal level. The list below includes five programs that are open for applications, or will be soon.

Read on to learn more about what companies can apply and how much money is up for grabs.

Keep reading...Show less
Jay Martin, city skyline and gold bars.

VRIC 2025 Preview — Jay Martin Talks Resource Wars, Geopolitics and How to Invest

The next Vancouver Resource Investment Conference (VRIC) is set to run from January 19 to 20, 2025, and Jay Martin, president of Cambridge House, joined the Investing News Network ahead of time to discuss the event.

Looking at the resource sector, Martin, who also hosts the Jay Martin Show on YouTube, said the current decade has been defined by chaos and uncertainty, with no signs of a slowdown any time soon.

With that in mind, his macro thesis on commodities remains steadfast, and he's watching three key drivers.

Keep reading...Show less

Latest Press Releases

Related News

×