Phase 2 Drilling campaign for massive sulphides at Belara
Perth, Feb 28, 2023 AEST (ABN Newswire) - Belararox Limited (
ASX:BRX), an advanced mineral explorer focused on high value clean energy metals, is pleased to announce that Phase 2 drilling has commenced at the VMS Belara Project in central NSW (Belara). Extensional drilling is intended to build upon the recently announced Inferred Resources (see ASX announcement dated 3 November 2022) and determine the potential of the Belara and Native Bee Project to host commercial quantities of mineralisation.
- ELA6287 and ELA6176 have been granted, increasing the total land holding to approximately 600 km2 in a very prospective Lachlan Fold belt.
- The Phase 2 drill campaign at Belara and Native Bee VMS Project in NSW is now underway and will comprise up to 3,600m of diamond drilling.
- This resource extension focussed drill campaign is targeting additional mineralisation to the defined resources at Belara and Native Bee (see ASX release dated 3 November 2022).
- The Phase 2 drill program will explore:
o Mineralisation at Native Bee that is open along strike to the south and remains open at depth; and
o Mineralisation at Belara that is open along strike to the north and down-dip of previously identified high-grade mineralisation.
Next Steps
- Completion of the current Phase 2 drill program targeting mineralisation at Belara and assessing the mineralised trend south of the old Native Bee mine.
- A planned airborne geophysical survey over portions of the 20km of structural corridor south of Belara and Native Bee to prioritise targets for follow-up exploration.
- ELA6287 was granted as EL9523 on 7th February 2023 for 5 years and ELA6176 was granted as EL9538 on 27th February 2023 for 5 years.
- Exploration work at the Bullabulling project to test for LCT prospectivity
Managing Director, Arvind Misra, commented:
"The commencement of the Phase 2 drill campaign at the Belara/Native Bee Project sees us transition to the next phase of our exploration activities for this highly prospective asset. It comes hot on the heels of recently completed Gravity and Gradient Array IP surveys undertaken at the Project. With an initial maiden Mineral Resource Estimate (MRE) at Belara and Native Bee already in place, the Phase 2 campaign is all about growing this defined resource and targeting open mineralisation at both prospects and assessing the mineralised trend south of the old Native Bee mine, with the intent of enhancing the Belara Project's economic viability. We expect to wrap up the Phase 2 drill program in the June 2023 quarter, with initial results announced to the market once received.
While Belara is a major focus, our team has also set in motion plans to test the prospectivity of the WA based Bullabulling asset, where exploration planning is underway to test for LCT pegmatite potential."
Belararox' Phase 2 drill program, which will see approximately 3,600m of diamond drilling occur at Belara and Native Bee, is underway. This resource extension focussed campaign aims to build on the previously announced maiden Mineral Resource Estimate (MRE) at Belara and Native Bee, comprised of Inferred Resources of 5.0 million tonnes (Mt) at 3.41% Zinc equivalent (ZnEq) (see ASX announcement dated 3 November 2022). Specifically, the Phase 2 program will test the significant exploration potential remaining along strike and at depth of known sulphide resources (see Figure 4*).
The full program is expected to take around three months (concluding in the June 2023 Quarter), with final assays expected 28 days after the end of the drilling.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/JEK392J0
About Belararox Limited
Belararox Limited (ASX:BRX) is a mineral explorer focused on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets. Our projects currently include the potential for zinc, copper, gold, silver, nickel and lead resources.
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