SYDNEY, AUSTRALIA: Belararox Ltd (ASX:BRX), an advanced mineral explorer focused on high value clean energy metals, announced that drilling has commenced at the Belara Project in central NSW (Belara).
Resource drilling at Belara is intended to build upon historic results and determine the potential of the Belara Project to host commercial quantities of mineralisation.
A review of historic results confirmed high-grade zinc equivalent intersections and have indicated the significant potential value of the ore bodies identified so far.
Managing Director, Arvind Misra, commented: “We are excited to launch our maiden drill campaign at the Belara Project. We are well-positioned to deliver a successful resource drilling program having recently conducted a very detailed review of historical drill data which indicated extensions to the ore body may exist outside the current non-JORC compliant resource area. We have also completed Gravity and Gradient Array IP surveys and look forward to reporting the results as soon as the technical interpretation is complete in late March.
“We have a very busy few months ahead with multiple zinc and copper targets identified that we will systematically drill at Belara. Whilst we remain resolutely focused on the near-term base metal opportunity at Belara, drill planning is also underway at our Bullabulling Project with 3D geology and prospectivity mapping complete.”
The Company’s initial focus is to deliver an Inferred Resource that is compliant with JORC 2012 over the historic mines at Belara and Native Bee (the Belara Project or Belara). The planned exploration programs will determine the potential of the Belara Project to host commercial quantities of mineralisation, as well as the timing for the commencement of potential further testing in order to assess the economic viability of Belara.
A second phase of drilling will explore the potential for extensions and repetitions of massive sulphide mineralisation generated by using electrical geophysical techniques. Modern exploration techniques, both geological and geophysical, as well as new 3D geological models and 3D artificial intelligence assisted computer modelling techniques, will be used to develop and prioritise new regional targets, with the aim of having a pipeline of potential resource targets ready for evaluation.
In addition, the Company will assess any other opportunities within the region that have a strategic fit, with the intention of providing maximum value to Shareholders for their investment.