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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
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen 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.
