Belararox to drill TMT copper project with contractor locked in

A letter of intent has been executed with Conosur Drilling SA
A diamond drilling program up to 6,000m will be carried out on the TMT project
BRX’s wholly owned subsidiary GWK has secured agreements for services to support the FY2025 field program

Special Report: Belararox has plans to drill up to 6,000m at the highly prospective Toro-Malambo-Tambo (TMT) in Argentina after executing a letter of intent with Conosur Drilling SA.

Belararox’s (ASX:BRX) TMT copper project is situated smack-bang in the middle of several large operating mines and neighbours Filo del Sol, the project being acquired by BHP (ASX:BHP) and Lundin for $4.5b.

Since securing the rights to acquire the asset in January 2023 the company has been actively exploring its 32,000-hectare (320km2) landholding and working up 12 porphyry targets it’s currently testing.

A recent earthworks agreement was struck between BRX’s subsidiary, GWK Minerals SA, and highly regarded local contractor – Brig S.R.L – to carry out earthworks that’ll help enable access to site and camp facilities.

Drilling to take off by early November

The focus has now shifted towards drilling following the execution of a letter of intent with highly regarded Argentine company Conosur Drilling SA – to undertake a maiden diamond drilling program and test key copper/gold porphyry targets.

BRX’s wholly owned subsidiary, GWK Minerals SA (GWK), has planned a campaign consisting of up to 6,000m, which includes the delivery of at least two hydraulic, diesel-powered drilling rigs with Conosur agreeing to accept 5% of the invoiced amount in BRX shares.

GWK has secured agreements with service providers for fuel, medical facilities, and related services to support the FY2025 field program.

With the 52km reopening of the main access road nearing completion, the camp is expected to reopen soon, enabling the continuation of field mapping and sampling activities shortly thereafter at other priority identified targets not tested during the FY2024 field season.

Drilling is set to take off by early November once access tracks and drill pads to the Tambo South and Malambo project sites are completed.

Strong position to fast-track drilling

“The drilling contract with Conosur SA and the excellent support provided by the GWK team in managing the negotiation, execution, and implementation of the key project agreements have placed Belararox in a strong position to efficiently and expeditiously pursue the drilling of its exciting copper/gold porphyry targets,” BRX exploration manager Jason Ward said.

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.