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Belararox Ltd (ASX:BRX) is seeking to grow its exploration footprint in both the copper space and also within Africa, through the acquisition of 14 prospecting licenses stretching across 4,286 square kilometres along the Kalahari Copper Belt in Botswana.
Belararox has taken on the prospective tenure through its acquisition (through a binding agreement) of KCB Resources Pty Ltd, which owned the land package through its subsidiaries Blackrock Resources Proprietary Limited and NI MG Northern Nickel Proprietary Limited.
The company stressed that what makes this land package exciting is its proximity to top copper-silver orebodies which are also along strike of the licenses, with these including Sandfire’s Motheo Copper Mine, MMG Limited’s Khoemacau Mine and Cobre
Limited’s flagship Ngami Copper project.
The acquisition – which will be known as the Kalahari Copper Belt Project – also delivers Belararox a second significant copper play in a mining-friendly and prospective territory.
As well as the large size of this land package, Belararox noted that its features included favourable stratigraphy and structural settings within a sediment-hosted copper mineral system, facilitating potential for a large-scale copper discovery.
Managing Director Arvind Misra said the licenses would be a welcome addition to Belararox’s portfolio.
“This region which is home to several world-class Cu-Ag orebodies in close proximity and along strike of our licenses, represents a significant opportunity for BRX,” he said.
“The acquisition secures our second exciting copper project in a highly favourable exploration and business environment, with.
“We expect to commence our exploration programme shortly. The TMT Project in Argentina remains our immediate exploration priority, to discover world class copper deposits with drilling expected to commence in early November.”
Belararox leapt up at the news. By 12:17 AEST, they were trading at 27 cents – a rise of 14.89% since the market opened.
