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Belararox Limited (ASX:BRX) (“Belararox” or “the Company”), an advanced mineral explorer focused on high- value clean energy metals, is pleased to announce the approval of two (2) of the nine (9) recently submitted Environmental Impact Assessments (“EIA”) for the Company’s Toro-Malambo-Tambo (“TMT”) Project in Argentina.
Key Highlights
- Two (2) of the nine (9) recently submitted Environmental Impact Assessments (“EIA’s”) for the Toro-Malambo-Tambo (“TMT”) Project have been approved.
- The exploration activities provide a pathway to investigating the satellite hyperspectral- interpreted high-sulphidation epithermal and/or porphyry targets.
- The Tambo South target is a high-priority target, for which the approved EIA will permit on-the-ground exploration activities, planned for the start of the field season during September 2023.
- Planned exploration activities to commence shortly include:
- Scout northern access track to assess alternative access route.
- Explore the project’s northern targets.
- Establish an environmental baseline with a registered Biologist as part of the EIAs.
- Condor Prospecting, a company linked with BRX director Jason Ward, has committed to receive BRX securities for the provision of further exploration services to the value of US$500k (A$779,180 @AUD:USD exchange rate of $0.6417) at the TMT project.
Furthermore, having achieved approval for the first two (2) EIA, the company holds a positive outlook regarding the upcoming authorization of the remaining seven assessments. The Company is also anticipating the approval of the EIA that pertains to the project's Toro target, with expectations for it to be granted soon.
Chief Technical Consultant – Argentina, Jason Ward, commented:
“The approval of these EIAs are an important milestone for Belararox. We can now commence exploration at TMT, starting with the Tambo Sur prospect which is one of our highest priority targets and shows a hyperspectral alteration signature indicative of porphyry style mineralization. The field program which will commence in the coming weeks will mark the first recorded systematic exploration at Tambo Sur and I am excited by what we may discover.
Managing Director, Arvind Misra, commented:
“The greenlight on the first 2 EIAs marks a significant stride in advancing exploration at the TMT Project. It's a crucial move forward towards exploration and track construction endeavours. These actions pave the way for investigating the high-sulphidation and/or porphyry targets, a credit to the expertise of our director, Jason Ward, and Consultant Dr. Steve Garwin. We're eagerly awaiting updates as we prepare to kick off field work shortly.”
Issue of securities to Condor Prospecting
The Company also advises that pursuant to the Services Agreement executed with Condor Prospecting Pty Ltd (Condor) in March 2023, it has agreed to issue to Condor 2,000,000 ordinary shares escrowed until 30 June 2025 (Shares) and 1,000,000 listed options exercisable at $0.66 (BRXOA) (Options). The issue of the Shares and Options is in respect of further services of US$500,000 (A$779,180 @AUD:USD exchange rate of $0.6417) to be provided by Condor under the Services Agreement. As Condor is an associated entity of BRX director, Mr Jason Ward, the issue of the Shares and Options is subject to the approval of BRX shareholders which will be sought at the Company’s AGM later this year. The Company has issued an Appendix 3B in respect of the proposed issue of Shares and Options.
TMT Project – Geological Context for Discovery
The TMT project is located Argentina, near the Chile-Argentina border in an area where exploration activities have been closing the underexplored gap between the [i] El Indo Metallogenic Belt, which contains the Veladero and Pascua Lima deposits, and the [ii] Maricunga Metallogenic Belt, which contains the Filo del Sol and Josemaria deposits (refer to Figure 1).
Figure 1: The location of the Toro-Malambo-Tambo (“TMT”) project relative to the El Indo Metallogenic Belt and the Maricunga Metallogenic Belt[1]
[1] = Source data (Filo Mining Corp., 2020), (E& MJ Engineering and Mining Journal, 2021), & (Barrick Gold Corporation, 2023)
EIA Approval
The Tambo Sur V tenure is for a Cateo, as the EIA has been approved this allows the Cateo to progress from an application towards grant. The EIA approval is the key stage that the Tambo Sur V tenure requires prior to its granting.
Tambo Sur I-II-III tenures are classified as Discovery Claims, the EIA approval it allows initial exploration activities to commence including, geological reconnaissance and mapping, surface sampling (soil sampling, talus sampling, and rock chip sampling), trenching, and ground-based geophysical surveys.
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BRX:AU
IND Establishes HPQ Exploration Target at Pippingarra Project
Highlights
- IND’s recent RC drilling program informs a Maiden High Purity Quartz (HPQ) Exploration Target at the Pippingarra Quarry Project.
- Drilling is planned for the exploration target area and to test several quartz occurrences mapped across the wider Mining Lease area.
- IND plans to commence work on a HPQ Mineral Resource Estimate in parallel with metallurgical testwork being conducted by potential offtake partners and third-party mineral processing laboratories.
- A 300kg Pippingarra quartz sample crushed from existing quarry stockpiles sent to China in late 2023 produced a >GG.GG4% SiO2 end product following standard HPQ processing1.
- A further 24 tonne bulk sample comprising crushed quartz rock has been shipped to China for processing, metallurgical test work, and assessment by potential offtake partners.
Figure 1: IND Pippingarra Quarry Project location and infrastructure.
In October 2023, IND announced the agreement of binding terms2 with North West Quarries Pty Ltd (NWQ) for an exclusive option to acquire an 80% interest in the non-construction material mineral rights.
Jeff Sweet, Managing Director of Industrial Minerals, commented:
“Following on from one of our potential offtake partners in China achieving a processed High Purity Ǫuartz product grading >SS.SS4% SiO2, we are extremely positive about the potential to supply Pippingarra quartz into high-end quartz markets.
“The Pippingarra Exploration Target is limited to an area where IND completed RC drilling in late 2023, to the east of the existing open pit. There are several quartz outcrops mapped across the broader Mining Lease area that will also be drilled with the intention to include these untested HPǪ target opportunities in the upcoming Mineral Resource Estimate (MRE) for Pippingarra.
“Our motivation to commence work towards a MRE is to leverage our unique position of having an active mining operation at the Pippingarra Ǫuarry. We believe this will give potential offtake partners the confidence to enter into offtake agreements with IND, knowing that we can rapidly advance to be mine ready and have a suitable mine life to support long term supply needs.”
Maiden High Purity Quartz Exploration Target
Table 1: Pippingarra HPQ Exploration Target range.
The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.
The Exploration Target is based upon the Reverse Circulation (RC) Drilling program completed by IND in December 2023. Drilling was conducted on a 50m x 50m spacing. From this, holes INRC003 – INRC009 recorded thicknesses of white crystalline quartz over widths from 12m to 20m as reported in the Table 2 below.
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This article includes content from Industrial Minerals 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.
Positive Findings from Newmont Ti Benchmarking Study
Highlights
- Titanium industry expert TZMI completes titanium benchmarking study on the Salazar Critical Minerals Project
- Study identifies Newmont as a standout from its peers in terms of Ti and TREO in-situ grade
- Benchmarking study is highly encouraging and supports validating flowsheet for production of titanium minerals from Salazar
Salazar Critical Minerals Project Ti Benchmarking Study
Following successful characterisation testwork of Ti mineralisation at the Newmont Deposit area1, West Cobar Metals engaged international titanium expert TZ Minerals International Pty Ltd (TZMI) to complete a benchmarking study of the Newmont resource.
TZMI is a global, independent consulting and publishing company which specialises in all aspects of the mineral sands, titanium dioxide and coatings industries2.
The Newmont resource3 and characterisation data was used by TZMI to benchmark the Salazar project deposit against several existing operations and potential new projects under development using publicly available information and TZMI estimates. The outcomes of the benchmarking are shown in Figure 1.
The benchmarking study shows that the Ti contained within the Newmont deposit has promising potential for economic extraction and that the Newmont resource is positioned favourably amongst peer resources in respect of both Ti and rare earth element content.
Figure 1 : Salazar Project (Newmont deposit) benchmarking
The relative positioning of the Newmont Inferred Ti and rare earth element resource is very positive for West Cobar, with relatively high insitu TiO2 grades and TREO grades compared to its peers. The Ti levels of the resource (on a whole rock basis) compare very favourably to both developing and operating projects.
TZMI concluded that “In terms of final ilmenite product quality, the composition of the magnetic fraction (comprising predominantly ilmenite) shows some promise with TiO₂ levels as high as 48.5%. This suggests the ilmenite is likely present as primary ilmenite … the CaO, MgO, V₂O₅, Cr₂O₃ in the magnetic fraction all seem relatively low which is positive and likely to be within the accepted levels for ilmenite used in sulfate pigment production.”
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High Grade Copper Rock Chips to 18% on New Targets at Ti-Tree
- Two new prospects, Tiberius and Claudius, have returned high-grade copper and significant silver assays in rock chips from recent field work
- High grade assays up to 17.8% Cu and 282g/t Ag have been discovered on the Tiberius zone, currently 3m wide and extending for over 200m along strike.
- Claudius, 11km south of Tiberius, comprised of several parallel zones over a 100m by 300m area, returned grades up to 6.6% Cu and 86g/t Ag.
- The discovery of these prospects, 30km northwest from Copper Ridge which contain historic workings not marked on GSWA maps, highlights the significant prospectivity of the Gascoyne region.
- Further field work is being planned to determine the extent of these new discoveries.
Andrew Ford, GM Exploration
“These results highlight the potential of this underexplored area to host as yet undiscovered mineralisation. Less than 5% of the 3,600 sq km area of the Ti-Tree Project has had any previous exploration, and to discover unrecorded historic mining areas is very exciting. These results are a credit the Augustus geological team.”
Figure 1 Location of the Tiberius and Claudius prospects
Tiberius
Reconnaissance field work conducted on the Ti Tree Project’s northwestern tenement has discovered high grade copper and silver mineralisation (Figure 3) in two areas. Tiberius, the northern target comprises a quartz-sulphide vein system up to 3m wide and outcrops for over 200m (Figure 5).
A shallow shaft has been dug on the vein system (Figure 2). Another vein set was identified 600m along strike east-northeast of the main vein increasing the potential size of the target. The high grade veins contain both oxidized copper, high silver grades, lead sulphide and anomalous gold (Table 1).
Claudius
The Claudius prospect is located 10km to the southwest of Tiberius, comprised of quartz veined brecciated and silicified granite with mineralised veins mapped over a 100m x 300m area. The main area of outcropping mineralisation has been trenched by prospectors and rock chip sampling returned strong copper mineralisation in an iron rich siliceous vein. Silver was consistently elevated (up to 86g/t) with associated gold anomalism to 0.68g/t (Table 1, Figures 4 and 6).
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This article includes content from Augustus Minerals, 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.