Belararox Limited: Native Bee Drilling Results

Perth, Australia - Belararox Ltd. (ASX:BRX), an advanced mineral explorer focused on high value clean energy metals, is pleased to announce the drill results from the recently commenced Phase 2 drill program.

Managing Director, Arvind Misra, commented:

"These results from Phase 2 drilling at Native Bee continue to extend the mineralisation with the best intersection to date recorded at Native Bee and indicate this is a highly prospective asset with more massive sulphide mineralisation discovered and further exploration upside."

Phase 2 Drilling Campaign at Belara/Native Bee

The Phase 2 drill program is focussed on identifying additional mineralisation to the previously announced maiden Mineral Resource Estimate (MRE) at Belara and Native Bee comprising of an Inferred Resources of 5.0 million tonnes (Mt) at 3.41% Zinc equivalent (ZnEq) (see ASX announcement dated 3 November 2022).

Initial drill results from the Phase 2 diamond drill holes at Native Bee indicate that the mineralisation thickness at Native Bee is increasing at depth below the central part of the known Native Bee sulphide resource. The lode appears less consistent to the south than initially expected and may not be contiguous between the north zone of reported Inferred Resources and the area of historical mining at Native Bee (Figure 1*). Belararox has therefore paused the Phase 2 drill campaign after approximately 1200m of diamond drilling to consider the potential for retargeting drilling into higher-grade areas.

The mineralised intersection in NBDD007 is the best to date at Native Bee:

- 6.0m at 4.00% Zn, 0.27% Cu, 1.15% Pb, 33.70g/t Ag and 0.37g/t Au from 151.0m,
including 3.0m at 7.57% Zn, 0.06% Cu, 2.11% Pb, 58.27g/t Ag and 0.70g/t Au.

NBDD007 confirms the continuity of the mineralisation down dip of NBRC001 (2.0m at 4.46% Zn and 0.31% Cu from 88.0m) and to the south of NBRC002 (6.0m at 2.12% Zn and 0.19% Cu from 167.0m, see Figure 2 and Figure 3*). The mineralisation width appears to be increasing below the central part of the known sulphide resource at Native Bee (Figure 3).

NBDD009 intersected sphalerite (zinc) and chalcopyrite (copper) sulphides from 175.0m to 183.0m:

- 8.0m at 2.17% Zn, 1.08% Cu, 0.14% Pb, 15.55g/t Ag and 0.16g/t Au.

NBDD009 confirms additional massive sulphide mineralisation extending along strike to the south of the defined resources at Native Bee (Figure 4* and see ASX release dated 3 November 2022).

NBDD008 adds further mineralisation along strike to the south, over 100m to the south of previous resource drilling from Phase 1 (see ASX release dated 3 November 2022):

- 7.0m at 1.49% Zn, 0.20% Cu, 0.80% Pb, 30.69g/t Ag and 0.02g/t Au from 205.0m.

NBDD008 and NBDD009 were drilled from the west into the mineralised lode due to topographical constraints (Figure 4 and Figure 5*). Downhole widths are therefore significantly wider than true widths.

Approximate true widths are calculated from structural logging and geological modelling and are presented in Table 2*.

Phase 2 Drilling has been paused to assess the potential of thicker and higher-grade material at depth.

At Belara, mineralisation is open to the north and down-dip (Figure 7*). Drill hole BLRC019D from Phase 1 drilling intersected significantly wider and higher-grade base metal mineralisation than targeted (refer to ASX announcement dated 12 September 2022).

Belara near mine exploration

At Native Bee, geological mapping and exploration targeting is ongoing to assess further mineralisation potential identified in a coincident airborne magnetics first derivative (1VD) and gravity anomaly, which extends from the area of the known mineral resource ~2kms southwards (Figure 6*).

Belara regional exploration

ELA6287 was granted as EL9523 on 7th February 2023 for five years and ELA6176 was granted as EL9538 on 27th February 2023 for five years. The granting of these applications has unlocked a further 20km of prospective host rocks and structural corridor south of Belara and Native Bee where very little exploration work has been carried out, a trend that includes the old Ben Buckley base metal deposit.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/B2LY93WV

About Belararox Limited:

Belararox Ltd. (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.

Source:
Belararox Ltd.

Contact:

Managing Director Belararox Ltd. arvind.misra@belararox.com.au The Capital Network Julia Maguire Investor and media enquiries julia@thecapitalnetwork.com.au