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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 a review of the regional prospectivity of the NSW tenures.
Key Highlights
- On-ground exploration activities have commenced at Belara on Belararox’s recently granted Exploration Licences (EL9538 and EL9523).
- Regional targeting includes field mapping and ground truthing of historical workings (shafts, pits and drill holes) along high-priority targets such as the Ben Buckley structural trend.
- Four additional targets with historical workings and anomalous mineralisation identified for further exploration.
- The historical Ben Buckley Mine sits on a coincident soil, magnetic, and chargeability anomaly which has not been adequately tested to date.
- Significant rock chip assays from 35 samples collected by previous explorers at Ben Buckley produced a reported average grade of 0.61% Cu and 0.50% Zn, with peak assay values of 4.60% Cu and 1.45% Zn. (Note, historical rock chip assays have been compiled from historical reports and have not been prepared in accordance with the JORC 2012 Code, see Table 1)
- Planned exploration activities include:
- Rock chip sampling to verify assay results from previous explorers, field mapping and ground truthing of historical shafts, pits, and drill holes along the Ben Buckley structural trend.
- Exploration targeting and further access negotiations are ongoing (Ben Buckley Mine access is already granted) on recently granted EL9523 and EL9538.
Managing Director, Arvind Misra, commented:
“While the TMT Project has received a lot of announcement and press commentary from Belararox, our name sake project remains an important feather in our project portfolio cap.
The commencement of on ground exploration activities at our recently granted exploration licences is an important step towards building a significant inferred resource. Belararox maintains focused on this exciting project, and we look forward to updating the market as exploration progresses.”
Belara NSW – Regional Exploration
Belararox has a 100% interest in the 643 km2 Belara Project located in the Lachlan Fold Belt of New South Wales. The Belara project encompasses three adjoining exploration licences (EL9184, EL9523, EL9538) located between Wellington and Mudgee in Central Western NSW with direct road access (Figure 1).
Figure 1. Location of the Belara Project.
Regional exploration at Belara is focussed on identifying additional mineralisation to the previously announced maiden Inferred Mineral Resource Estimate (MRE) of 5Mt @ 3.41% Zinc equivalent (ZnEq) at the Project’s Belara and Native Bee deposits (see ASX announcement dated 3 November 2022).
Belararox’s exploration activities at Belara are focused on orogenic mineral systems such as Cobar-type copper (Cu) - gold (Au) - zinc (Zn) - lead (Pb) - silver (Ag) deposits and lode Au deposits.
Of primary interest for mineral exploration are the Silurian to Carboniferous units on Belararox’s tenure (Figure 2).
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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
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
