‘Exciting times ahead’: Belararox goes all in on monster Argentina gold-copper hunt
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Belararox Resources — confident its Argentinean porphyry and epithermal gold hunt will be a company changer — has established permanent operations in the country, as well as key relationships with government and exploration and mining sector stakeholders.
The company is hunting for epithermal gold and porphyry copper systems at its Toro-Malambo-Tambo (MTM), in the underexplored gap between the El Indo and Maricunga metallogenic belts, which host some monster deposits.
El Indo includes the Barrick Gold/Shangdong Gold Veladero joint venture, which is expected to produce 160,000oz-180,000oz of gold from a 6.1Moz resource in 2023, as well as the 22Moz Pascua Lama deposit.
Maricunga hosts Lundin Group’s Filo del Sol epithermal copper-gold-silver deposit — where drilling returned a massive 1,338m intersection grading 1.33% copper equivalent from 150m — as well as the $4.1bn Josemaria porphyry copper-gold mine development.
Surrounded by monsters, Belararox (ASX:BRX) is understandably keen to get started on exploring its extensive 32,000 hectare project where it has already identified 11 prospective copper-gold porphyry targets.
“Our interactions with government officials underscore their unwavering support for our endeavours,” managing director Arvind Misra said.
“Exciting times ahead for BRX in Argentina.”
The meetings with Government officials including the Minister for Mining of San Juan Carlos Astudillo, Governor Elect of San Juan Marcelo Orrego, and Australian Ambassador to Argentina Simon Twisk, proved to be “exceptionally constructive.”
“BRX’s operations are now firmly established after productive meetings with government officials, contractors, and the Condor exploration team,” Misra said.
The stakeholder support is bolstered by the establishment of a new office in San Juan – via subsidiary GWK SA – and the move of exploration director Jason Ward has to the country to oversee the TMT project.
“Jason Ward’s presence in Argentina to oversee the TMT Project signifies our commitment,” Misra said.
In addition, the GWK board has nominated Ward as president and Misra as chairman.
“In the realm of mineral exploration, the TMT project finds itself amidst giants – Barrick/Shandong, Lundin, and BHP, all of whom have poured substantial investments into uncovering world-class Tier 1 resources. As we venture forward, the striking parallels between our exploration territory and the recent Tier 1 discovery at Filo del Sol by Lundin/BHP fill us with great anticipation and optimism.”
Two of nine recently submitted Environmental Impact Assessments (EIAs) for the project have been approved, and the company is confident the recent meetings are a good indication its remaining EIAs and other approvals required in the future will receive efficient and timely approvals.
Belararox is now preparing to immediately commence work, with earthworks contractors now mobilised to the TMT project and road rehabilitation well underway.
The plan is to conduct surface rock chip sampling ahead of up to 10,000m of diamond core drilling at the advanced Toro target and a further 2,000m of diamond drilling at the adjacent Malambo target.
This article was developed in collaboration with Belararox Resources, 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.