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Belararox Limited (ASX:BRX) (“Belararox” or “the Company”) is pleased to announce that the significant mineralisation observed in the drill core as part of the due diligence process at the TMT project in Argentina (Belararox Limited, 2023.b) is supported by significant assay results that are now considered ‘Exploration Results’ to be reported under the JORC (2012) Code.
Key Highlights
- Key mineralised sections of historical drill core stored in trays were inspected and reviewed in Argentina as part of the Company’s due diligence process in acquiring the project. Mineralisation was observed in diamond core holes ARRLSDD0001, ARRLSDD0002, ARRLSDD0003, & ARRLSDD0004, drilled in 2013 at the project’s Toro target, strongly supporting the potential of the project to contain a significant system rich in base and precious metals (Belararox Limited, 2023.b).
- Significant intercepts from diamond drilling completed in 2013 by Votorantim at the Toro target include:
- ARRLSDD0001 - 266m @ 0.76% Zn, 14.6ppm Ag, 0.05ppm Au, 0.04% Cu & 0.09% Pb from 56m* including:
- 72m @ 1.00% Zn, 12.3ppm Ag, 0.07ppm Au, 0.02% Cu & 0.13% Pb from 56m including:
- 6m @ 3.94% Zn, 52.3ppm Ag, 0.35ppm Au, 0.12% Cu & 0.27% Pb from 56m*;
- 2m @ 8.59% Zn, 112.0ppm Ag, 0.63ppm Au, 0.25% Cu & 0.63% Pb from 58m*;
- 2m @ 3.27% Zn, 34.8ppm Ag, 0.15ppm Au, 0.08% Cu & 0.08% Pb from 126m*.
- 140m @ 0.86% Zn, 20.4ppm Ag, 0.05ppm Au, 0.06% Cu & 0.08% Pb from 182m* including:
- 52m @ 1.02% Zn, 7.0ppm Ag, 0.04ppm Au, 0.01% Cu & 0.09% Pb from 184m*;
- 2m @ 4.41% Zn, 41.0ppm Ag, 0.34ppm Au, 0.05% Cu & 0.12% Pb from 186m*;
- 2m @ 3.33% Zn, 9.1ppm Ag, 0.07ppm Au, 0.03% Cu & 0.08% Pb from 220m*;
- 16m @ 1.29% Zn, 11.2ppm Ag, 0.07ppm Au, 0.03% Cu & 0.08% Pb from 268m*.
- 10m @ 1.19% Zn, 53.7ppm Ag, 0.17ppm Au, 0.40% Cu & 0.03% Pb from 318m*.
- 2m @ 1.16% Zn, 7.7ppm Ag, 0.04ppm Au, 0.04% Cu & 0.22% Pb from 56m*.
- 72m @ 1.00% Zn, 12.3ppm Ag, 0.07ppm Au, 0.02% Cu & 0.13% Pb from 56m including:
- o ARRLSDD0003 – 22m @ 1.25% Zn, 41.2ppm Ag, 0.31ppm Au, 0.24% Cu & 0.27% Pb from 10m* including:
- 6m @ 1.72% Zn, 135.9ppm Ag, 1.00ppm Au, 0.80% Cu & 0.78% Pb from 10m*.
- ARRLSDD0001 - 266m @ 0.76% Zn, 14.6ppm Ag, 0.05ppm Au, 0.04% Cu & 0.09% Pb from 56m* including:
*Intersection calculated using Below Detection Limit(s) (BDL) of 0.50 ppm Ag & 0.005 ppm. Note: all Cu, Pb & Zn values exceed BDL
- Significant rock chip assays from 133 samples collected by Votorantim across multiple locations at the Toro target, produced an average grade of: 0.84% Zn, 81ppm Ag, 0.11ppm Au, 0.10% Cu, & 0.58% Pb. Note: Any samples that resulted in a BDL were excluded from the averaging calculation. With peak assay values of: 13.30% Zn, 1,980ppm Ag, 2.56ppm Au, 1.90% Cu, & 12.1% Pb
- Significant intercepts from the Sonoma drill holes completed in 1996/1997 at the Toro target include:
- T1-D – which included:
- 24m @ 2.4% Zn, 38.8ppm Ag, 0.18ppm Au & 0.07% Cu from 24m;
- 60m @ 2.4% Zn, 118ppm Ag, 0.32ppm Au & 0.28% Cu from 114m.
- T1-R – 29m @ 1.7% Zn, 24.0ppm Ag, & 0.11ppm Au from 17m.
- T3-D – 18m @ 0.9% Zn, 74.5ppm Ag, 0.13ppm Au & 0.08% Cu from 125m.
- T5-R – 32m @ 1.4% Zn, 30.3ppm Ag & 0.11ppm Au from 19m including:
- C6m @ 6% Zn, 136.5ppm Ag, 0.2ppm Au & 0.2% Cu from 34m.
- T5-R – 75m @ 0.7% Zn, & 11.4ppm Ag from 69m.
- T5-R – 45m @ 1.0% Zn, & 15.0ppm Ag & from 237m.
- T1-D – which included:
Cautionary Statement: The intercepts from the 1996-1997 Sonoma Resource Development Argentina S.A. Diamond Drilling (“DD”) and Reverse Circulation (“RC”) drilling campaign are suitable for the reporting of ‘Exploration Results’ for mineral prospectivity, further exploration work would be needed to produce a ‘Mineral Resource’.
Managing Director, Arvind Misra, commented:
“Prior to acquiring the Toro-Mambo-Tambo project our due diligence identified historic core drill results undertaken at the southern end of the property. We believed these finds added credence to our belief that the property is highly prospective for zinc, an in-demand base metals used in a wide range of clean energy processes.
With the historic drilling results brought up to JORC 2012 code compliance, we are able to confidently disclose these ‘Exploration Results’ to the market. While we still have work to do before we can produce a ‘Mineral Resource Estimate’ at the TMT Project, these strong ‘Exploration Results’ add to the mounting evidence that the TMT Project is a game-changing acquisition for Belararox.”
Toro – Malambo – Tambo (“TMT”) Project
Figure 1: Location of the TMT Project which has potential for Base Metals and Cu-Au Porphyry in Argentina’s San Juan Province
Toro Target – Exploration Results reported to the JORC (2012) Code
The Toro target in the south of the TMT project had been the focus of historical exploration activities completed by Sonoma Resource Development Argentina SA (“Sonoma”) during 1995-1999 and Votorantim Metais Argentina S.A. (“Votorantim”) during 2012-2014.
Drill core from historical diamond drill holes ARRLSDD0001, ARRLSDD0002, ARRLSDD0003, and ARRLSDD0004, was inspected in Argentina by the Belararox Team, with logistical and onsite support provided by the Condor Prospecting SA Exploration Team. Mineralisation observed in the due diligence process strongly supports the potential of the project to contain a significant system rich in base and precious metals (Belararox Limited, 2023.b).
The Toro target has been divided into a North Zone where intense hydrothermal argillic alteration is observed and Central and South Zones – also exhibiting intense hydrothermal alteration – where the bulk of historical exploration was focused. This announcement focuses on the verified drill core information for ARRLSDD0001, ARRLSDD0002, ARRLSDD0003, & ARRLSDD0004 with the Due Diligence site visit providing the opportunity to physically verify additional results of historical drilling and exploration activities at the Toro target (Belararox Limited, 2023.b).
Post completion of the due diligence process, the Toro target ‘Exploration Results’ have been verified in order to be reported to the JORC (2012) Code by a team of Professionals led by Jason Ward. The current ASX Release displays these Exploration Results as having been reported to the JORC (2012) Code.
Toro Target - Historical Geochemistry
Through the Company’s data validation process, records of historical surface samples over the Toro Target’s Central and Southern Zones were examined. A total of 133 rock chip samples supported the delineation of distinct zones of significant mineralisation. The samples were collected by Votorantim during 2013/2014 and subsequently submitted to ALS Laboratories Mendoza for assay preparation and then to ALS Laboratories Lima in Peru for assay.
From the rock chip sample data available it appears the surface sampling assay results were significant and encouraging. Across the group of rock chip samples, individual samples produced assay grades that ranged up to 13.3% zinc, 12.1% lead, 2.56 ppm gold, 1.9% copper and 1,980ppm silver. When excluding samples that assayed below the detection limit the 133 samples averaged grades of 0.84% zinc, 0.58% lead, 0.11ppm gold, 0.10% copper and 81ppm silver.
Rock chip sampling at the Toro target strongly indicates the presence of potentially economic zinc mineralisation, appearing most prevalent in the Central Zone. Geological maps with the assay values for zinc, copper and gold at the Toro Target are presented in Figure 2, respectively. Mapped assay values for silver, arsenic, molybdenum, lead and tin are presented within Appendix E in Figure 11, Figure 13, Figure 14, Figure 16, Figure 15, Figure 18 and Figure 17, respectively.
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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
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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This article includes content from Augustus Minerals, 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.
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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This article includes content from EMU NL, 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.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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This article includes content from Basin Energy, 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.