Belarox (ASX:BRX) has announced the acquisition of the El Faro tenement directly adjoining the Toro South copper target at the company’s Toro-Malambo-Tambo (TMT) Project in Argentina.
The acquisition is run through the company’s Argentinian subsidiary, GWK Minerals and adds 22km2 to the TMT landholding.
Executive Director Chris Gale says that the acquisition strengthens Belarox’s position around the Toro South target.
“With drilling currently underway, securing additional ground along this structural corridor ensures we maintain control of what we believe could be a highly prospective mineralised system within the Vicuña District,” Gale says.
The tenement is being acquired from a local private landowner for a total consideration of US$150,000 across three staged payments, including US$50,000 upon signing, US$50,000 upon registration of the assignment of title to GWK, and the final US$50,000 payable in six monthly installments.
Belarox is a mineral exploration company focused on developing resources to meet the growing demand from the battery, renewables, and technology markets.
Write to Amy Rotman at Mining.com.au
Images: Belarox
