Assays confirm second porphyry system at Toro-Malambo-Tambo project, a style of mineralisation that plays host to the world’s largest copper and base metals mines
Priority target includes 600m x 450m anomaly consistent with surface expression of several large porphyry deposits worldwide
Highest anomalous surface values indicate 5.642 ppm Cu, 0.26 ppm Au, 44 ppm Ag, 86 ppm Mo, 355 ppm Zn and 2330 ppm Pb
Special Report: Assay results at Belararox’s Toro-Malambo-Tambo project in Argentina have confirmed the presence of a second porphyry system close to surface in the explorer’s hunt for a new copper orebody of global scale.
The company recently flagged a second system at the Tambo South target at the project, and now Belararox (ASX:BRX) says assays for the rock chip and talus samples, integrated with the geological mapping, confirm the presence of the second porphyry.
The company created 3D geological interpretations of the results using the porphyry metal-zoning models of Halley et al. (2015) and Cohen (2011), which indicate the potential for a significant porphyry target ~ 700m beneath the surface characterised by a large, coherent rock and colluvium/talus molybdenum anomaly (Mo >6ppm) exceeding 600m by 450m.
That is consistent with the surface expression of several large porphyry deposits worldwide.
Lower in grade but larger in scale than their VMS cousins, porphyry deposits account for some of the largest copper and gold mines known to humankind, including the largest copper mine in the world – Chile’s 1Mtpa Escondida and Australia’s biggest gold and copper producer, Newmont’s Cadia.
Belararox has established itself as an early mover in Argentina’s Andean region, in a country whose pro-resource policies and underexplored geology have made it a next generation competitor to stalling major copper and lithium producers like Chile and Peru.
BRX believes the identification of the second porphyry shows the system could be comparable to NGEx Minerals’ (TSX-V:NGEX) nearby Lunahuasi project, where NGEx recently announced a drill intercept of 23m at 23.92% CuEq from a depth of 220m as part of a broader drill intercept of 102m at 4.56% CuEq from a depth of 192m.
Lunahuasi and TMT are surrounded by numerous projects held by major Canadian-listed companies, including Lundin (TSX:LUN), Barrick (NYSE:GOLD) and Filo Mining Corp (TSX:FIL).
C$3 billion capped Filo’s Filo Del Sol has demonstrated the potential of the region, with a US$1.3b after tax NPV and 20% IRR even at copper, gold and silver prices well below current spot rates.
Another priority drill target
The Tambo South results add another priority 1 drill target to the project, in addition to the Malambo porphyry and Toro epithermal targets.
The highest anomalous surface values found to date indicate 5.642ppm (0.56%) copper, 0.26ppm gold, 44ppm silver, 86ppm molybdenum, 355ppm zinc and 2330ppm lead.
“The assay results from Tambo South confirm a second porphyry system at the TMT project, marked by a significant molybdenum anomaly and notable Cu, Au, Ag, Mo, Zn, and Pb surface values,” managing director Arvind Misra said.
“This adds another priority drill target alongside Malambo and Toro. 3D interpretations indicate a significant porphyry target about 700m beneath the surface.”
Pic: Oblique-view showing molybdenum (Mo) in surface samples and the Tambo South porphyry targets predicted by the porphyry metal zoning models of Halley et al. (2015) and Cohen (2011). The coloured shells correspond to iso-surfaces of the calculated probability of a match of the Tambo South assay results with metals distribution at Yerington and other global porphyry deposits. Source: BRX.
Next steps
The next steps at the project include further analysis of geochemical results and geological evaluation of the Tambo South target.
The company will also generate 3D geological models for the Malambo, Tambo South and Toro areas to define drill targets.
“We will now focus on drill planning work, with field activities commencing in September,” Misra said.
In addition, the Environmental Impact Assessments of Malambo and Tambo South are being reviewed to expand future Malambo drilling from the current 2000m to more than 5000m and acquire a new Tambo South drilling permit for approximately 3000m.
Completion is expected in the coming months.
This article was developed in collaboration with Belararox, 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.
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