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Belararox Ltd (ASX: BRX) (Belararox or the Company), an advanced mineral explorer focused on high-value clean energy metals, has further characterised six (6) of eleven (11) prospective targets at the Toro- Malambo-Tambo (“TMT”) Project based on ASTER and Sentinenal-2 data and imagery processed by Fathom Geophysics. Independent Technical Consultant, Dr. Steve Garwin, completed the interpretation of the potential for high sulphidation epithermal and porphyry systems.
KEY HIGHLIGHTS
- Field work has commenced in the southern portion of the Toro target, with the mapping of breccias, other rock units, and key features such as mineralisation and alteration.
- Surface sampling has progressed in parallel with mapping activities. The initial focus has been the confirmation of earlier work completed by previous holders of the tenure.
- The preliminary results are under evaluation and appear to align with the geological observations made by previous tenure holders.
- Dr. Steve Garwin has travelled to Argentina to conduct mapping and sampling of specific high- priority targets, collaborating with a field team of local geologists experienced in porphyry exploration techniques.
- Six (6) of the eleven (11) targets generated at the TMT Project from Satellite Aster and Sentinel 2 analysis by Dr. Steve Garwin have undergone further review before heading to Argentina to visit the TMT Project to map and sample selected targets.
- The TMT Project’s targets: Tambo North, Tambo North 2, Tambo VI, Malambo 3, Malambo 4, and Lola Targets have now been characterised in additional detail.
- The targets are interpreted to represent surface expressions of high-sulphidation epithermal and/or porphyry-style mineral systems.
Dr. Steve Garwin arrived in Argentina on the 28th of October, mobilising to the TMT Project soon after arriving in the country. Dr. Steve Garwin will map and sample selected high-priority targets with a field team of in-country Geologists experienced in porphyry exploration methods.
Exploration Director - Argentina, Jason Ward, commented: “The commencement of field work at the TMT Project will focus on geological mapping and systematic geochemical sampling at the porphyry and breccia targets at Toro. This will allow us to have a better understanding of where we are in the system in order to vector in on our target. We shall also investigate some of the targets generated from our remote sensing studies and structural interpretation.”
Belararox’s Managing Director, Arvind Misra, commented: “At TMT Project, our current fieldwork is a major step forward. We’re actively mapping in the southern Toro target, examining breccias, rock formations, and key geological features related to mineralisation and alteration. Dr. Steve Garwin, along with a skilled local team, is spearheading the mapping and sampling efforts. The comprehensive analysis of targets, including Tambo North, Tambo North 2, Tambo VI, Malambo 3, Malambo 4, and Lola Targets, yields valuable insights as they represent surface indicators of high-sulphidation epithermal and porphyry-style mineral systems.”
The TMT project is located in an area where exploration activities have been closing an underexplored gap between [i] the El Indo Metallogenic Belt, which contains the Veladero and Pascua Lima deposits, and (ii] the [Maricunga Metallogenic Belt, which contains the Filo del Sol and Josemaria deposits [refer Figure 1].
Figure 1: The location of the Toro-Malambo-Tambo (“TMT”) project relative to theEl Indo Metallogenic Belt and the Maricunga Metallogenic Belt[1][1] = Source data (Filo Mining Corp., 2020), (E& MJ Engineering and Mining Journal, 2021), & (Barrick Gold Corporation, 2023)
ASTER AND SENTINEL-2 SATELLITE SPECTRAL STUDY
The completed remote sensing studies [ (Garwin, 2023.a), (Garwin, 2023.b)] utilised two (2) different multispectral spaceborne datasets [i] Advanced Spaceborne Thermal Emission and Reflection Radiometer (“ASTER”) and [ii] Sentinel-2. Multispectral image sensors simultaneously capture image data within multiple wavelength ranges (bands) across the electromagnetic spectrum. Each band is commonly described by the band number and the band wavelength centre position. Geological interpretation is then based on the responses displayed in the imagery against known surface hydrothermal alteration and/or surface geology associated with key mineral deposits. Fathom Geophysics (Core & Core, 2023) processed the ASTER and Sentinel-2 data for use in the interpretation of potential mineralisation.
Eleven (11) prospective targets were identified from the satellite spectral imagery with geological interpretation completed on the TMT project by Independent Hydrothermal Systems Specialist Dr Steve Garwin. The 11 prospective targets have been ranked for prospectivity based on spectral response and geological interpretation, resulting in the delineation of prospective targets that show potential for high- sulphidation epithermal mineral systems and/or porphyry-style mineral systems. The selected targets have been ranked for prospectivity across six (6) categories with the A-class category considered to be of higher potential than the B-class; the targets within each class are prioritised from 1 (highest) to 3 (lowest) [refer to Figure 2 on page 3].
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BRX:AU
IND Establishes HPQ Exploration Target at Pippingarra Project
Highlights
- IND’s recent RC drilling program informs a Maiden High Purity Quartz (HPQ) Exploration Target at the Pippingarra Quarry Project.
- Drilling is planned for the exploration target area and to test several quartz occurrences mapped across the wider Mining Lease area.
- IND plans to commence work on a HPQ Mineral Resource Estimate in parallel with metallurgical testwork being conducted by potential offtake partners and third-party mineral processing laboratories.
- A 300kg Pippingarra quartz sample crushed from existing quarry stockpiles sent to China in late 2023 produced a >GG.GG4% SiO2 end product following standard HPQ processing1.
- A further 24 tonne bulk sample comprising crushed quartz rock has been shipped to China for processing, metallurgical test work, and assessment by potential offtake partners.
Figure 1: IND Pippingarra Quarry Project location and infrastructure.
In October 2023, IND announced the agreement of binding terms2 with North West Quarries Pty Ltd (NWQ) for an exclusive option to acquire an 80% interest in the non-construction material mineral rights.
Jeff Sweet, Managing Director of Industrial Minerals, commented:
“Following on from one of our potential offtake partners in China achieving a processed High Purity Ǫuartz product grading >SS.SS4% SiO2, we are extremely positive about the potential to supply Pippingarra quartz into high-end quartz markets.
“The Pippingarra Exploration Target is limited to an area where IND completed RC drilling in late 2023, to the east of the existing open pit. There are several quartz outcrops mapped across the broader Mining Lease area that will also be drilled with the intention to include these untested HPǪ target opportunities in the upcoming Mineral Resource Estimate (MRE) for Pippingarra.
“Our motivation to commence work towards a MRE is to leverage our unique position of having an active mining operation at the Pippingarra Ǫuarry. We believe this will give potential offtake partners the confidence to enter into offtake agreements with IND, knowing that we can rapidly advance to be mine ready and have a suitable mine life to support long term supply needs.”
Maiden High Purity Quartz Exploration Target
Table 1: Pippingarra HPQ Exploration Target range.
The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.
The Exploration Target is based upon the Reverse Circulation (RC) Drilling program completed by IND in December 2023. Drilling was conducted on a 50m x 50m spacing. From this, holes INRC003 – INRC009 recorded thicknesses of white crystalline quartz over widths from 12m to 20m as reported in the Table 2 below.
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Positive Findings from Newmont Ti Benchmarking Study
Highlights
- Titanium industry expert TZMI completes titanium benchmarking study on the Salazar Critical Minerals Project
- Study identifies Newmont as a standout from its peers in terms of Ti and TREO in-situ grade
- Benchmarking study is highly encouraging and supports validating flowsheet for production of titanium minerals from Salazar
Salazar Critical Minerals Project Ti Benchmarking Study
Following successful characterisation testwork of Ti mineralisation at the Newmont Deposit area1, West Cobar Metals engaged international titanium expert TZ Minerals International Pty Ltd (TZMI) to complete a benchmarking study of the Newmont resource.
TZMI is a global, independent consulting and publishing company which specialises in all aspects of the mineral sands, titanium dioxide and coatings industries2.
The Newmont resource3 and characterisation data was used by TZMI to benchmark the Salazar project deposit against several existing operations and potential new projects under development using publicly available information and TZMI estimates. The outcomes of the benchmarking are shown in Figure 1.
The benchmarking study shows that the Ti contained within the Newmont deposit has promising potential for economic extraction and that the Newmont resource is positioned favourably amongst peer resources in respect of both Ti and rare earth element content.
Figure 1 : Salazar Project (Newmont deposit) benchmarking
The relative positioning of the Newmont Inferred Ti and rare earth element resource is very positive for West Cobar, with relatively high insitu TiO2 grades and TREO grades compared to its peers. The Ti levels of the resource (on a whole rock basis) compare very favourably to both developing and operating projects.
TZMI concluded that “In terms of final ilmenite product quality, the composition of the magnetic fraction (comprising predominantly ilmenite) shows some promise with TiO₂ levels as high as 48.5%. This suggests the ilmenite is likely present as primary ilmenite … the CaO, MgO, V₂O₅, Cr₂O₃ in the magnetic fraction all seem relatively low which is positive and likely to be within the accepted levels for ilmenite used in sulfate pigment production.”
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High Grade Copper Rock Chips to 18% on New Targets at Ti-Tree
- Two new prospects, Tiberius and Claudius, have returned high-grade copper and significant silver assays in rock chips from recent field work
- High grade assays up to 17.8% Cu and 282g/t Ag have been discovered on the Tiberius zone, currently 3m wide and extending for over 200m along strike.
- Claudius, 11km south of Tiberius, comprised of several parallel zones over a 100m by 300m area, returned grades up to 6.6% Cu and 86g/t Ag.
- The discovery of these prospects, 30km northwest from Copper Ridge which contain historic workings not marked on GSWA maps, highlights the significant prospectivity of the Gascoyne region.
- Further field work is being planned to determine the extent of these new discoveries.
Andrew Ford, GM Exploration
“These results highlight the potential of this underexplored area to host as yet undiscovered mineralisation. Less than 5% of the 3,600 sq km area of the Ti-Tree Project has had any previous exploration, and to discover unrecorded historic mining areas is very exciting. These results are a credit the Augustus geological team.”
Figure 1 Location of the Tiberius and Claudius prospects
Tiberius
Reconnaissance field work conducted on the Ti Tree Project’s northwestern tenement has discovered high grade copper and silver mineralisation (Figure 3) in two areas. Tiberius, the northern target comprises a quartz-sulphide vein system up to 3m wide and outcrops for over 200m (Figure 5).
A shallow shaft has been dug on the vein system (Figure 2). Another vein set was identified 600m along strike east-northeast of the main vein increasing the potential size of the target. The high grade veins contain both oxidized copper, high silver grades, lead sulphide and anomalous gold (Table 1).
Claudius
The Claudius prospect is located 10km to the southwest of Tiberius, comprised of quartz veined brecciated and silicified granite with mineralised veins mapped over a 100m x 300m area. The main area of outcropping mineralisation has been trenched by prospectors and rock chip sampling returned strong copper mineralisation in an iron rich siliceous vein. Silver was consistently elevated (up to 86g/t) with associated gold anomalism to 0.68g/t (Table 1, Figures 4 and 6).
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