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Belararox Limited (BRX.AX) BRX Assay Results

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Belararox Limited
Belararox Limited

Belararox Limited (BRX.AX) BRX Assay Results

Perth, Australia, June 20, 2022 - (ABN Newswire) - Belararox Limited (ASX:BRX), an advanced mineral explorer focused on high value clean energy metals, is excited to announce the first assay results from the Phase One RC resource drilling at the Belara mine. The resource and metallurgical drilling at Belara are intended to build upon historic results and determine the potential of the Belara Project to host significant zinc and copper mineralisation.

Managing Director, Arvind Misra, commented:

"We are delighted with the first assay results from our Phase One drilling program, which confirm massive sulphide mineralisation at Belara. Today's results are important, even at this early stage, as they represent another significant step forward in building a significant resource at the Belara project and provide more confidence in the continuity of the grade and width of massive sulphide mineralisation in undrilled areas. We will continue to update shareholders with assay results over the coming weeks as our team works to rapidly deliver a Mineral Resource Estimate in early H2 2022."

First Assay Results from Resource Drilling

The Belara and Native Bee mine areas are the first high priority targets for resource drilling (see www.belararox.com.au for project details). A phased approach is being taken to the drilling of the Belara and Native Bee mine targets. Phase One aims to deliver the density of drill assay intersections to estimate an Inferred Resource that is prepared in accordance with the JORC (2012) over the known area of mineralisation at the Belara (Figure 1*) and Native Bee mines.

The first assay results have been returned from the Resource Drilling at the Belara Mine, with assay results received for BLRC009 and BLRC011 (Figure 1 and Table 1*). BLRC009 was drilled to test the up-dip continuity of base metal mineralisation intersected in B030 (8m at 8.82% Zn equivalent from 299.0 m, comprising 4.17% Zn, 0.45% Cu, 1.77% Pb, 61.93 g/t Ag and 0.45 g/t Au) at around 80-100m depth where base metal mineralisation is interpreted by the historic resource model but not confirmed by drilling to date (Figure 1 and Figure 2*). BLRC011 was also drilled to test base metal mineralisation interpreted in the historic resource model and to infill a gap in the historic drilling (Figure 1 and Figure 3*).

The results for all the new holes assayed have been entered into the drill databases and quality control reviews completed. All check samples, blanks, and sample weights have been reviewed as part of an ongoing quality control process and returned results within accepted expected statistical ranges, which confirm the validity of the assay results.

Both BLRC009 and BLRC011 intersected base metal mineralisation as targeted, confirming the continuity of the interpreted base metal mineralisation in the historic resource model (Figure 2 and Figure 3 and Table 2*). Better downhole intersections at a 1% zinc equivalent cut off include (see JORC Code, 2012 Edition - Table 1 Section 2 for zinc equivalent formula):

- 17.0 m at 3.25 % Zn equivalent from 81.0 m in BLRC011 (0.94% Zn, 0.52% Cu, 0.27% Pb, 10.79 g/t Ag and 0.21 g/t Au), including 3.0m at 10.21 % Zn equivalent from 81.0m (3.84% Zn, 1.15% Cu, 1.10% Pb, 43.87 g/t Ag and 0.77 g/t Au),

- 3.0 m at 7.82% Zn equivalent from 101.0 m in BLRC009 (0.73% Zn, 2.02% Cu, 0.21% Pb, 18.27 g/t Ag and 0.39 g/t Au) and

- 1.0 m at 1.68 % Zn equivalent from 108.0 m in BLRC009 (0.63% Zn, 0.28% Cu, 0.08% Pb, 2.90 g/t Ag and 0.06 g/t Au).
Mineralisation in BLRC009 was intersected 19m deeper down hole compared to the interpreted mineralisation in the historic resource model (Figure 2*) and has a higher zinc equivalent grade but narrower width compared to that interpreted by the historic resource model, giving a similar amount of combined metal.

The base metal mineralisation in BLRC011 was also intersected 19m deeper down hole compared to the interpreted base metal mineralisation in the historic resource model (Figure 3*). The base metal mineralisation intersected in BLRC011 is wider and of a similar zinc equivalent grade compared to that interpreted by the historic resource model, giving twice the amount of combined metal.

BLRC009 and BLRC011 targeted the Belara mineralisation closer to the surface and contain higher copper grades than expected with up to 3.6% Cu that is associated with higher gold grades up to 1.7 g/t Au. These results suggest that the metals in the Belara ore body may be zoned with higher copper and gold at the surface and zinc grades increasing with depth.

The mineralisation in both holes is surrounded by a 20m wide zone of disseminated sulphides, including pyrite and pyrrhotite, which explains the spatial association of anomalous electrical and gravity geophysical data with base metal mineralisation at the Belara mine. This provides additional confidence that the new targets defined using these geophysical techniques could host similar base metal mineralisation to the Belara mine area.

The first new assay results from the resource drilling even at this early stage are another significant step forward and provide more confidence in the continuity of the grade and width of mineralisation in undrilled areas. particularly near the surface, where the historic resource model interprets mineralisation to continue.

Resource RC Drilling Update

A total of 6 holes of the Phase One drilling programme were completed for 627m to 15 June 2022 since the last announcement to the ASX on 8 June 2022, with 2 holes abandoned (Figure 1 and Table 1*). A total of 20 holes for 2,600m have been drilled, with three holes abandoned, compared to the Phase One resource RC drill plan of 29 holes for 4,906m (Figure 1 and Table 1*). The two additional drill rigs employed to speed up the resource drilling are continuing to operate to make up lost time for Covid-19 and significant wet weather-related delays.

Next Steps

A total of 1,827 samples have been sent to the laboratory in Orange since the drilling started at Belara, with 1,551 assay results pending. These results should be announced in the next six weeks.

Drilling is continuing with three diamond tails to be drilled for 200m (Table 1) and 16 RC holes for 3,084m left to be drilled from the Phase One drill plan. The second multi-purpose RC/diamond rig will be focussing on completing the planned holes at the Native Bee resource area while the first drill rig completes the holes planned at the Belara resource area.

Phase Two drill planning is underway to enable downhole EM to map the known mineralisation and potential depth extensions at the Belara and Native Bee mines using the recently drilled resource and metallurgy diamond core holes. If successful, this will provide a valuable tool for quickly and cheaply testing the potential of the new targets mapped by the prospectivity modelling (refer to ASX announcement of 28 May 2022) and provide 3D targets that will allow drill planning to be optimised, as well as providing an understanding of the 3D continuity of any new mineralised zones.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/G679929U


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.

Contact:

Managing Director
Belararox Limited
arvind.misra@belararox.com.au

Dannika Warburton
Investability
+61 401 094 261
dannika@investability.com.au

Source:
Belararox Limited

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