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Belararox Ltd (ASX: BRX)(Belararox or the Company) is an advanced mineral explorer focused on high- value clean energy metals, and has identified potential for LCT mineralisation at the Company’s Bullabulling 100% owned project. Additionally, the project is considered highly prospective for gold. Figure 1 on page 2 and Figure 2 on page 3 present the geological prospectivity for lithium and/or gold, as presented in the Key Highlights.
Key Highlights
- Several new potential Lithium-Caesium-Tantalum (“LCT”) pegmatite targets were identified in recently acquired drone aerial imagery across Belararox’s 100% owned Bullabulling project.
- The new targets are considered prospective for lithium from pegmatites associated with the adjacent Bali Monzogranite and additional targets are present as gold in sheeted quartz veins.
- Several lithium-rich pegmatites have been identified in the same structural corridor adjacent to the Bali Monzonite and other potential pegmatite source rocks. Notable lithium projects and prospects in the immediate vicinity include Future Battery Minerals’ (ASX:FBM) Kangaroo Lithium Project vii, the historical Ubini mine viii and the Red Panda prospect xi.
- Planned exploration activities include:
- Finalise review and interpretation of the recently acquired drone aerial imagery and other available satellite imagery assessing for potential pegmatite and sheeted quartz vein targets;
- Follow-up field reconnaissance mapping, rock chip sampling and Portable X-Ray Fluorescence (“XRF”) analysis of all identified targets; and
- Systematic surface sampling of the most prospective targets.
Managing Director, Arvind Misra, commented:
The continued exploration success at Bullabulling is an exciting development in the pipeline of activities for Belararox and represents a real opportunity in a highly prospective LCT pegmatite district in WA.
Follow-up field mapping and sampling of the highly prospective targets is soon to commence, and we aim to continue to update the market as activities progress.
Figure 1: Sheeted quartz veins or pegmatite locations associated with the prospective Bali Monzogranite - potentially prospective for Gold or Lithium (Photo inset – pegmatite identified at 303159 mE, 6571585 mN, MGA94 Zone 51)
Figure 2: Sheeted quartz veins or pegmatites prospective for Gold and Lithium 2km south of the historical Ubini pegmatite mine.
Background
Belararox holds the Bullabulling Project which is comprised of 26 wholly owned tenements covering approx. 50km2 to the west of Coolgardie in the Eastern Goldfields of Western Australia. The company is pleased to announce it is assessing the LCT pegmatite potential of these tenements. Refer to Figure 3 for the location of the project and other lithium mineral resources in the region.
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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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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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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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