Mineral exploration company Belararox (ASX:BRX) has expanded its exploration empire into the South American mining jurisdiction on the back of a busy Q1 2023.
During the quarter, Belararox opted to extend its exploration footprint by executing its acquisition agreement with Condor Prospecting Australia to manage the Toro-Malambo-Tambo (TMT) Project’s exploration. This project is located in the San Juan province of Argentina and is considered prospective for base metals and copper-gold porphyry mineralisation.
Meanwhile, several exploration activities, including phase two drilling, began at both the New South Wales-based Belara and Western Australia-based Bullabulling projects respectively.
Exploration at Bullabulling was undertaken to test for potential lithium-caesium-tantalum (LCT) pegmatites. During this time, the company also increased its New South Wales land holding by 300%.
The company now has a secure, dominant landholding in New South Wales’ Lachlan Fold Belt and is set to enter into royalty deeds with Fomo Ventures No 1 as part of its binding agreement to fully acquire the TMT project.
Addressing the end of the quarter, Belararox Managing Director Arvind Misra says: “Our team successfully executed on a challenging and potentially game changing quarter for Belararox.
During the March quarter we commenced exploration at Bullabulling, representing an opportunity in a highly prospective LCT pegmatite district in WA, Australia. We expect to update the market as activities progress.
“Our team successfully executed on a challenging and potentially game changing quarter for Belararox”
During the quarter our team successfully progressed the TMT Project acquisition in an exciting expansion in our development pipeline. Adding further credence to our belief that this asset may be a game changer for Belararox, our due diligence has identified historic core drill results undertaken at the southern end of the TMT project.
With a successful first quarter under our belt, I am optimistic 2023 will continue to be a pivotal year for Belararox.”
Belararox is an ASX-listed company focused on high value clean energy metals. The company currently has about $2.7 million in the bank as of the end of Q1 2023 and has its eyes set on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets.
Belararox’s projects currently include the potential for zinc, copper, gold, silver, nickel, and lead resources.
Images: Belararox Ltd
