Belararox has made a splash on the market after intersecting high-grade zinc, copper and gold massive sulphides in a previously undrilled area at the Belara mine in NSW.

Hole BLRC013 intersected a 7m zone grading 2.22% zinc, 2.54% copper, 0.63% lead 26.87 grams per tonne (g/t) silver and 0.67g/t gold from a depth of 78m including a 3m intersection at 4.73% zinc, 5.85% copper, 1.3% lead, 82.6g/t silver and 1.5g/t gold.

Yesterday’s market announcement of the news had investors pretty excited, with the company’s price spiking 16% by close and starting today moving in a positive direction as well.

High grade find

This massive sulphide mineralisation is of higher grade – for all metals – than in the historical model, which bodes well for Belararox’s (ASX:BRX) plan to define a maiden resource for the project.

Another key takeaway is that the intersection is located along strike and at practically the same depth as the mineralisation intersected in BLRC011, which returned a 17m intersection at 0.94% zinc, 0.52% copper, 0.27% lead, 10.79g/t silver and 0.21g/t gold from a depth of 81m.

Taken together, these holes confirm that high-grade mineralisation is present closer to the surface than the historical model over a 150m strike – a finding that could make mining a simpler prospect.

“We are delighted with the results for this hole (BLRC 013) which is the best intersection drilled so far at the project,” managing director Arvind Misra said.

“Importantly, assays for BLRC013 have higher grades for all metals than in the historic model and thus, deliver on our goal for Phase One drilling to build upon historic results to determine the potential of the Belara Project to host significant zinc and copper mineralisation.

“We are fast tracking work on our maiden resource, which we hope to announce in this current quarter, and significant results like these bode well for it.”

Improving on proven potential

Belara consists of three tenements (EL9184, ELA6176 and ELA6287) about 100km north-northeast of Orange in the highly prospective Lachlan Fold Belt region of NSW.

It includes the Belara and Native Bee mine areas – both underground mines that were worked on from 1875 to 1908, which (quite rightly) happen to be the first high priority targets for resource drilling.

Notably, previous owner Ironbark Zinc had already defined an Inferred Resource of 1Mt at 5% zinc, 0.4% copper, 1.5% lead, 0.3 grams per tonne (g/t) gold and 50g/t silver at a 4% zinc cutoff using the older JORC 2004 code prior to relinquishing the project in 2020.

Belararox’s drill results to date, especially today’s top shelf intersection in a previously undrilled area, are a strong indicator that its maiden resource estimate based on the modern JORC 2012 code will exceed this previous estimate.

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.