Belararox Provides Update on Malambo and Tambo South Drilling Programs
BRX (BRX) Share Update January 2025 Thursday 9th
Belararox Announces Progress on Malambo and Tambo South Drilling Programs
Belararox Limited (ASX: BRX) has released an update on its exploration activities at the Malambo and Tambo South copper porphyry targets in San Juan, Argentina, highlighting progress and challenges in its drilling programs.
Instant Summary:
- Drilling at Malambo and Tambo South to begin in late January 2025.
- Access challenges due to difficult terrain at Malambo.
- 6,000m TMT Drilling Program on track for April 2025 completion.
- Safety measures implemented for road access.
- Conosur SA to commence drilling soon.
Exploration Progress
Belararox Limited has announced that drilling at the Malambo and Tambo South sites is set to commence in the latter half of January 2025. These sites are part of the company's ongoing exploration efforts in the San Juan Province of Argentina, targeting copper porphyry deposits.
The Malambo site has presented significant access challenges due to its difficult terrain. Initial road designs were deemed unsafe, necessitating a re-survey and the creation of an alternate route. These adjustments have delayed access to the drill pad by a month, but the company has now completed a safer route that meets Mines Department safety standards.
Drilling Program Details
The TMT (Toro-Malambo-Tambo) Drilling Program is a comprehensive 6,000-meter initiative scheduled for completion by April 2025. This program is crucial for Belararox as it seeks to explore and develop resources in an area positioned between the mineral-rich El Indo and Maricunga Metallogenic Belts.
Conosur SA, the drilling contractor, is preparing to begin operations at Malambo, with the first track-mounted rig already near the drill pad. A second rig is expected to start drilling at Tambo South later in January 2025.
Commitment to Safety and Exploration
Despite the setbacks caused by weather and terrain, Belararox remains committed to advancing its exploration program safely. Managing Director Arvind Misra emphasized the importance of these exploration targets and expressed confidence in achieving the planned 6,000 meters of drilling this season.
The announcement of progress in the Malambo and Tambo South drilling programs is likely to have a positive impact on Belararox's stock, as it demonstrates the company's commitment to overcoming challenges and advancing its exploration efforts. The successful completion of the drilling program could significantly enhance the company's resource base, particularly in the copper sector, which is in high demand for technology and renewable energy applications.
Investor Reaction:
Analysts are likely to view the update positively, noting the company's proactive approach to addressing access challenges. However, the delays may cause some concern among investors about potential impacts on timelines and costs.
Conclusion:
Investors should keep an eye on further updates from Belararox as the drilling programs progress. The company's ability to meet its April 2025 completion target will be crucial in maintaining investor confidence and realizing the potential of its exploration targets.