Year in Review: Belararox finds its feet after successful first year on ASX

Belararox (ASX:BRX) was officially listed on the ASX in January 2022, and it has spent most of this year developing its projects in Central New South Wales.

The Perth-based mineral explorer has been working to find zinc, copper, gold, silver, nickel and lead resources to meet the surge in demand for technology, battery and renewable energy markets.

Most of the exploration activity carried out by the company this year took place at the Belara Project, located 100km north-northeast of Orange. It also carried out exploration programs at the Bullabulling Project, located 26km west of Coolgardie in Western Australia and covering a total area of 48.8km-square.

H1 2022 characterised by zinc sulphide and copper finds at Belara

In the first half of 2022, Belararox carried out initial exploration at Belara where the company intersected visible copper and zinc sulphides during its first completed diamond drillhole.

It then found massive sulphide mineralisation from phase one RC resource drilling with results including 17.0m @ 3.25% Zn equivalent from 81.0m (0.94% Zn, 0.52% Cu, 0.27% Pb, 10.79g/t Ag and 0.21g/t Au); including 3.0m @ 10.21 % Zn equivalent from 81.0m (3.84% Zn, 1.15% Cu, 1.10% Pb, 43.87g/t Ag and 0.77g/t Au) in BLRC011.

Belararox Belara project

Belararox releases maiden MRE in H2 2022

In July Belararox reported the third hole from its phase one reverse circulation (RC) resource drilling at the Belara confirmed ‘high-grade’ zinc, copper, and gold in a previously undrilled area.

We are delighted with the results for this hole (BLRC013) which is the best intersection drilled so far at the project”

Commenting at the time, Belararox Managing Director Arvind Misra said: We are delighted with the results for this hole (BLRC013) which is the best intersection drilled so far at the project.

“Zinc and copper intercepts 7m at 2.22% Zn, 2.54% Cu including 3m at 4.73% Zn, 5.85% Cu represent excellent grades.”

The company also defined 7 new drill targets at the Bullabulling Project in July. It also confirmed the continuity of ‘higher grade’ copper, gold, and zinc mineralisation at Belara with assay results including 13.0m at 0.41% Zn, 0.24% Cu, 0.11% Pb, 8.27g/t Ag and 0.33g/t Au from 86m in BLRC014; and 4.0m at 1.46% Zn, 0.70% Cu, 0.37% Pb, 11.88g/t Ag and 0.18g/t Au from 67m in BLRC015.

These results continued throughout September, and in October the company raised $3.85 million in a placement that will help fund the phase two drilling program starting early next year.

The funds raised were also used to complete the results and interpretation of the DHEM and FLEM conducted from holes surveyed at Belara and Native Bee confirming extensions to known massive sulphide mineralisation.

In November Belararox delivered a Mineral Resource Estimate (MRE) of 5 million tonnes for the Belara and Native Bee prospects.

Misra commented: “This is an outstanding maiden resource which demonstrates the growing scale and quality of the Belara and Native Bee projects. The fact that we established such a substantial resource in about 10 months since listing in January 2022 also highlights the strength of the mineralisation and the immense ongoing growth potential.”

In 2023 Belararox will be undertaking a phase two drilling program at Belara and Native Bee to assess the potential of extending the mineralisation further south.

Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.