Belararox has added another brick to the porphyry story at its TMT project. Pic via Getty Images
Mining
Special Report: Ongoing field work at Belararox’s Toro-Malambo-Tambo (TMT) copper-gold project in Argentina has uncovered further evidence that another porphyry system is present.
Porphyry deposits account for 60-70% of global copper supply and range from 100Mt to several billion tonnes, ranking them among the largest ore deposits on earth. They also frequently occur in clusters of deposits along mineralised trends.
While they can be challenging to develop, porphyries also have the potential to be company makers due to their scale.
Belararox (ASX:BRX) has now confirmed the potential for porphyry systems at Toro, Malambo and Tambo – all with similarities to nearby discoveries.
The TMT project is close to Filo Mining Corp’s Filo Del Sol mine and 53km south of NGEx Minerals’ Lunahuasi project where recent drilling returned a 23m intersection grading 23.92% copper equivalent from a down-hole depth of 220m.
Filo del Sol – a composite porphyry-epithermal deposit – has an estimated 644Mt resource with average grades of 0.31% copper, 0.32g/t gold and 10.1g/t silver. This was attractive enough for mining giant BHP (ASX:BHP) to tip in $113.16 million to secure a 5% stake in its operator.
Since starting field work comprising systematic surface sampling and Anaconda geological mapping at the project, BRX has uncovered evidence that a porphyry is present at its TMT project.
This work has confirmed porphyry-style alteration and mineralisation at three targets (Toro North, Toro Central and Toro South) out of the 12 targets at the project.
BRX has now completed geological mapping and is close to finishing geochemical sampling of outcrop and talus/colluvium at the Malambo target.
This work found a diorite intrusive complex which has styles and zoning of overprinting hydrothermal alteration that are characteristic of a porphyry system.
Zones of elevated fracture abundance, late-stage quartz veins and minor to rare chalcopyrite coincide with potassic, intermediate argillic and phyllic alteration that are focused on the second phase of three mapped diorite intrusions.
Geological mapping has also identified a central zone of interest for follow-up exploration.
“The initial fieldwork at Malambo supports our interpretation from satellite studies that this is a porphyry target,” BRX exploration director – Argentina Jason Ward said.
“Mapping has identified multi-phase intrusive rocks which are strongly fractured and show porphyry-style potassic, intermediate argillic, phyllic and propylitic alteration.
“We await assay results which will define the geochemical zonation and increase our understanding of the system.
“Given the ideal structural setting and location between two of the world’s most prolific metallogenic belts and surrounded by major deposits, Malambo is shaping up as a strong target.”
BRX will now complete sampling at Malambo and start sampling and geological mapping at the Tambo South target.
It will also interpret the outcrop and talus/colluvium sampling programs at Toro South and Toro Central once final assays are received and interpret integrated outcrop and talus/colluvium sampling results for Toro North.
In addition, the company will deploy a biologist to establish an environmental baseline to ensure compliance with flora and fauna regulations while shortlisting geophysical contractors to supply magnetic surveys at the Tambo South, Malambo, Toro North, Toro Central, and Toro South targets.
This article was developed in collaboration with Belararox, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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