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Belararox Ltd (ASX:BRX) (Belararox or the Company), an advanced mineral explorer focused on high-value clean energy metals is pleased to announce it has commenced a field program to infill lithium soil anomalies at the Company’s 100%-owned Bullabulling Lithium/Gold project.
KEY HIGHLIGHTS
- Infill soil sampling has commenced on Belararox 100% owned Bullabulling Lithium and Gold project located west of Coolgardie in Western Australia.
- Preliminary geological interpretation has identified a 5 km strike length of highly anomalous lithium including results up to 324 ppm lithium (697 ppm Li2O).
- Infill soil program has been planned across six lithium anomalies and several gold anomalies with field crews currently sampling.
Figure 1: Lithium (ppm) soil anomaly.
Belararox’ Managing Director, Arvind Misra, commented: “I am thrilled to announce our infill soils field program will be completed by the end of this week. This initiative will offer critical insights that will inform our lithium drilling program, which our exploration team is diligently progressing. The promising initial results along a 5 km zone, coupled with the current strong interest in lithium projects in Western Australia, further bolster my optimism about our endeavours.”
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. Significant lithium resources and projects in the surrounding area are displayed in Figure 2.
NEARBY EXPLORATION SUCCESS
11.5km to the east of Belararox’s eastern tenement boundary, Future Battery Minerals (ASX:FBM) announced it had intercepted 29m @ 1.36% Li₂O from 38m downhole in a 14-hole Phase 1 reverse circulation (RC) drilling program at its Kangaroo Hill Lithium Project (20 April 2023, FBM ASX announcement ‘Exploration Update Kangaroo Hills Lithium Project’).
These results, from fractionated pegmatites, are located in close proximity to the Belararox tenements and within a similar geological setting. They are considered analogous to the pegmatites identified across the Bullbulling Project, where elevated lithium values have been identified.
Figure 2: Lithium deposits and projects located within the Coolgardie region.
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BRX:AU
Belararox Limited
Overview
Belararox Limited (ASX:BRX) is an Australian mineral exploration and development company focusing on its 100-percent-owned base and precious metals projects, targeting zinc, copper, gold, silver, nickel and lead resources, and aiming to be. The company aims to be a significant contributor to help meet the world’s growing demand for battery and renewable energy metals.
The Australian government is investing nearly AU$70 billion to boost renewable energy initiatives to meet its 2030 net-zero goals, which not only provides Belararox opportunity to access government funding but also allows it to benefit from a supportive policy regime.
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.
Belararox 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.
Bullabulling, the company’s secondary asset in Western Australia, is slated for lithium permatite exploration work to be completed by middle of 2023, with results being available by the end of the year.
In March 2023, Belararox entered a binding agreement to acquire 100 percent of the Toro-Malambo-Tambo (TMT) Base Metals and Cu-Au Porphyry project in Argentina (TMT Project) from Fomo Ventures. As part of the transaction, Belararox will enter into royalty deeds with Fomo shareholders with respect to a one-percent net smelter royalty. The TMT project is believed to be highly prospective for zinc, an in-demand clean energy metal used in processes to reduce carbon emissions.
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 Toro-Malambo-Tambo (TMT) project in Argentina includes untested assets. The company inspected and reviewed key mineralised sections of historical drill core stored in trays as part of its due diligence process in acquiring the project and has verified the presence of zinc mineralisation.
- 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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Developing Precious and Base Metal Assets to Meet Future Demand