Rock Chip Assays Confirm Additional Surface Mineralisation At The Belara Base Metals Project

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”), an advanced mineral explorer focused on high value clean energy metals, is pleased to announce the results of rock chip sampling and field mapping with the aim of identifying additional mineralisation to the Belara and Native Bee resource.

Key Highlights

• Rock chips results from field mapping and ground truthing of historical workings (shafts, pits and drill holes) confirm the southern extension of Native Bee, and the Ben Buckley structural trend as high-priority targets.
• At Native Bee, gossanous rock chip sampling (10 samples) produced average grades of
  • 1.44% Cu, 71.0g/t Ag, 0.24g/t Au, 1.61% Pb and 0.30% Zn, and
  • Peak assay values of 4.71% Cu, 156.0g/t Ag, 0.43g/t Au, 5.00% Pb and 1.32% Zn.
• Furthermore, rock chip sampling at Native Bee has confirmed the existence of a secondary mineralised lode (at least 100m length) that has not been drill tested to date.
• At Ben Buckley, gossanous rock chip sampling (9 samples) in proximity to historical workings produced average grades of
  • 0.50% Cu, 49.1g/t Ag, 0.19g/t Au, 2.94% Pb and 0.24% Zn, and
  • Peak assay values of 0.97% Cu, 188.0g/t Ag, 0.39g/t Au, 14.90% Pb and 0.56% Zn.
• Planned exploration activities include:
  • Target generation, on-ground exploration activities (field mapping and sampling) and further access negotiations are ongoing on recently granted EL9523 and EL9538
  • Follow-up drill hole planning of high priority targets

“We are pleased to report promising results from recent exploration activities at the Belara Project, enhancing our exploration outlook. Notably, at Native Bee, rock chip sampling south of the known Inferred Resource revealed substantial mineralization, including peak values of 4.71% Cu and 156.0 g/t Ag. Ben Buckley prospect also showed success with peak values of 0.97% Cu and 188.0 g/t Ag. Our plans involve refining targets, on-ground exploration, access negotiations for EL9523 and EL9538, and follow- up drilling. These results underscore our commitment to responsible resource growth, and we look forward to the opportunities presented by these projects, delivering long-term value to our shareholders.”

Belara Project Overview

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. Note the Belara and Native Bee resources and the Ben Buckley historical workings.

Exploration activities at Belara are 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).

Figure 2. Geology of the Belara project (from Dubbo 1:250 000 Geological Sheet, Morgan et al 1999).

Native Bee Extensions

Drill results from the Phase 2 drilling campaign and airborne magnetics indicate that mineralisation is open at depth and to the south of Native Bee (see ASX announcement dated 12 May 2023). Recent surface rock chip sampling of gossanous material along the lode to the south has now confirmed copper rich mineralisation at surface and, furthermore, identified a secondary lode to the east with a surface footprint of at least 100m (Figure 3 and Table 1). Figure 3 and Table 1 show the results from ten rock chip samples collected from gossanous outcrop with an average of:

• 1.44% Cu, 71.0g/t Ag, 0.24g/t Au, 1.61% Pb and 0.30% Zn, and
• Peak assay values of 4.71% Cu, 156.0g/t Ag, 0.43g/t Au, 5.00% Pb and 1.32% Zn.

The recent results highlight the potential to add significant mineralisation to the existing resource at Native Bee. Follow-up drill hole planning of surface mineralisation at depth is ongoing.

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