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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 the Environmental Impact Assessment Applications (“EIAs”) to permit exploration activities at the Company’s TMT Project in Argentina have been completed and submitted to the San Juan Mines Department.
Key Highlights
- Nine Environmental Impact Assessment (EIAs) Applications covering the whole Toro− Malambo−Tambo (TMT) project have been completed and submitted to the San Juan Mines Department in Argentina.
- These EIAs have been completed by a consultant based in San Juan province, in line with Belararox’s commitment to developing the project with the help of local groups and the support of local suppliers.
- Once approved, the EIAs will permit a range of exploration activities at TMT Project, including initial exploration work, track building and drilling.
- The Company expects approval of the EIAs in time for the upcoming 2023-2024 field season commencing in September/ October.
- Track repair and building additional access roads in addition to reinstating an historical exploration camp onsite will be the first activities to commence upon approval of the EIAs.
The nine submitted EIAs cover the whole project, as can be seen in Figure 1 below. Once approved, the submissions will allow for activities ranging from initial exploration of greenfield areas, track building and drilling the Project’s most advanced targets.
The Company expects approval of the EIAs in time for the start of the 2023-2024 field season. Once approved, the Company will immediately begin repairing the Project’s main access track and reinstating its historical campsite.
Managing Director, Arvind Misra, commented:
“With the acquisition of TMT signed, sealed and delivered, we are now busy ticking off the boxes required before exploration-related activities can get fully underway at this highly prospective asset. Kudos to all involved for quickly compiling and submitting the EIAs requested by Argentinean authorities. It was also great to see that the EIAs were completed by a local consultant, aligning with our stated objective of developing TMT with the help of local businesses. Once the EIAs are approved, we will set in motion an exploration program, starting with some initial exploration work, track building and reinstatement of an historical exploration base camp.”
Figure 1: EIAs completed and submitted for the TMT project.
Table 1: Table of Submitted EIAs
Exploration
The EIAs were designed to initiate geophysical surveys (using electrical, resistivity or magnetic methods), detailed geological mapping and sampling across the entire project.
The submitted EIAs also envisage up to 10,000m of diamond core drilling at the Project’s most advanced
target, Toro, and a further 2,000m of diamond core drilling at the adjacent Malambo Target.
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BRX:AU
EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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