Regional Base Metals Exploration Commences At Belararox’s 100% Owned 643km2 Belara Project

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.

“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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