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.

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