Belararox (ASX: BRX) has significantly boosted its exploration capacity at the TMT project with the arrival of a second drill rig, aiming to expedite testing of both shallow epithermal and deeper porphyry targets.
The rig will focus on testing shallow epithermal targets at Toro Central and deeper porphyry potential at Toro South.
Three holes at Toro Central (TC-DDH-001, TC-DDH-002, TC-DDH-003) have been completed, with end depths of 705.6m, 415.0m, and 283.7m respectively.
First assay results from Toro Central are expected in early March 2026.
Tambo South Geophysics Advance
Magnetotelluric (MT) and Induced Polarisation (IP) surveys at Tambo South have been completed.
Advanced 3D geophysical interpretation and ground work are underway to refine potential copper porphyry drill targets.
This geophysical work is designed to inform future drilling strategies at Tambo South.
Toro Central Target Focus
The Toro Central target hosts a high-grade Ag-Au-Cu epithermal system.
Historical surface results include up to 1,980 ppm Ag, 2.56 ppm Au, and 1.50% Cu.
Drill hole TC-DDH-001 intersected visually observed sulphides over 568.5m (from 98.0m to 666.5m), validating the IP chargeability target.
A second drill hole at Toro Central is planned approximately 400m to the north, aiming to test for mineralisation continuity.
Context: Strategic Exploration & Funding
Belararox reported cash reserves of A$7.10 million and zero debt at the end of the December 2025 quarter, following an A$8.5 million two-tranche placement.
The company's Annual Report highlighted a strategic focus on advancing the TMT project in Argentina and the KCB project in Botswana.
Previous drilling at TMT's Malambo target yielded no significant results, indicating the varied nature of exploration outcomes.
The deployment of a second drill rig and ongoing geophysical work at the TMT project signal an accelerated exploration phase for Belararox, with near-term catalysts from upcoming assay results.
However, the company faces inherent exploration risks, including the uncertainty of assay grades and the need for continued funding, as highlighted by previous mixed results and ongoing reliance on capital raises.
