Quarterly Report December 2022
Perth, Jan 27, 2023 AEST (ABN Newswire) - Belararox Ltd (ASX:BRX), an advanced mineral explorer focused on high value clean energy metals, is pleased to report on its quarterly activities for the period ending 31 December 2022. During the quarter, the Company delivered a Mineral Resource estimate (MRE) at the Belara Project, further progressed its exploration programme and successfully completed a $3.85 million capital raising.
Belararox Limited Managing Director, Arvind Misra commented:
"We were thrilled to deliver the promised Maiden Resource for the Belara/Native Bee Project in the December 2022 quarter. At the same time, our team also got cracking with the next stages of the Belara Project's exploration programme. These included metallurgical test results and EM data analysis that further enhanced the prospectivity of this NSW-based project. We additionally completed much of the prep work for the soon-to-get-underway extensive phase 2 drilling campaign at Belara-Native Bee. Importantly, the successful capital raising undertaken in the quarter leaves the Company in a strong cash position to progress our exploration strategy.
More recently, we unveiled plans to diversify our asset portfolio, announcing a proposal to acquire an exciting Argentina-based Zinc/Copper project acquisition. This potential transaction demonstrates our commitment to growing the Company via value-enhancing transactions that are the right strategic fit.
Looking ahead, we expect to soon start providing investors with regular updates on results coming out of the pending Phase 2 drill programme at Belara and other exploration activities.
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About Belararox Limited
Belararox Limited (ASX:BRX) is a mineral explorer focused on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets. Our projects currently include the potential for zinc, copper, gold, silver, nickel and lead resources.