Belararox Ltd (ASX: BRX) has moved to make a potential acquisition of the Toro – Malambo – Tambo (TMT) Project in Argentina.
Fomo’s TMT project is an expansive land package of over 32,000 hectares in Argentina’s San Juan Province. San Juan is one of Argentina’s most pro- mining provinces and hosts several high-profile advanced projects including Filo del Sol, Josemaria, Altar, Los Azules and El Pachon and the giant, high sulfidation gold and silver deposits Veladero and Pascua Llama.
: “We are very enthusiastic about this Acquisition. The project is located in the mining friendly Province of San Juan in Argentina which has recently been rated by the Fraser Institute as the Number 1 Mining destination in Latin America. I believe this Acquisition both fits within our existing battery mineral strategy and will help bring our company to the next level,” Belararox MD Arvind Misra said.
Highlights
Belararox has signed a non-binding terms sheet with Fomo Ventures No1 Pty Ltd (FOMO or Vendors) to acquire the Toro – Malambo – Tambo (TMT) Project in Argentina, an extensive 32,000 hectares project with potential large scale Base Metal mineralization and untested porphyry targets.
• The TMT project is located in the Valle del Cura region within the San Juan province, in an under-explored gap between two world-class metallogenic belts, the El Indio and Maricunga belts in the Central Andes.
• The San Juan province in Argentina, one of the most attractive mining jurisdictions of Latin America hosts several renowned high-profile advanced copper-gold porphyry projects including Filo del Sol (Lundin), Josemaria (Lundin), Altar (Aldebaran Resources), Los Azules (McEwen Mining) and El Pachon (Glencore) as well as the high-sulphidation gold-silver deposits Veladero and Pascua Llama (Barrick-Shandong).
• As part of the transaction, Condor Prospecting Pty Ltd, an experienced exploration team based in Argentina, owned by the Vendors and closely associated with prominent exploration geologist Jason Ward, will be responsible for execution of the exploration programmes of the TMT Project.
• Desktop studies and project planning is underway to validate the information from previous reports, confirm potential reported zinc mineralisation and review the porphyry targets.
• The proposed strategic acquisition will complement Belararox’s existing portfolio of Australian zinc-copper projects while providing a strong value proposition for shareholder value.
“The TMT Project comprises a number of prospects. There is strong epithermal mineralization previously reported at Toro and several targets at Malambo and Tambo which have seen no modern systematic exploration. BRX are committed to conduct the exploration this project requires, and I believe we have a very good chance of making an economic discovery,” FOMO CEO, Jason Ward, said.
For further information please visit: https://www.belararox.com.au/
