Belararox Limited (ASX: BRX) has released its latest investor presentation outlining an aggressive exploration strategy across two copper projects in world-class jurisdictions: the TMT Project in San Juan, Argentina, and the Kalahari Copper Project in Botswana. The company is positioning itself as a leveraged play on major copper discoveries, with near-term catalysts expected from both locations over the coming months.
The TMT Project in Argentina encompasses 342 square kilometres of highly prospective ground targeting both copper-gold porphyry and epithermal deposits. Recent drilling at the Toro Central target delivered encouraging results, intersecting 47 metres grading 172 grams per tonne silver, 3.99 percent zinc, 0.23 percent copper, and 0.22 grams per tonne gold from 59 metres depth. This success has prompted follow-up work, suggesting management sees genuine potential in the district. The project sits in one of the world’s most sought-after copper belts, surrounded by Tier 1 mining operators.
The Kalahari Copper Project in Botswana represents a substantial land package of 3,900 square kilometres targeting sediment-hosted copper, a style of mineralisation that has attracted significant industry interest. The project benefits from strategic positioning near operational hubs of major miners including BHP, MMG, and Sandfire. Critically, management notes that no effective exploration has been completed along strike from these major operations, suggesting material upside potential. An airborne electromagnetic survey is currently underway, with drilling to commence in May 2026, providing near-term news flow for investors.
From a corporate perspective, BRX trades at a modest market capitalisation of approximately $17.6 million as of early April 2026, with a share price of $0.067. The company maintains a cash position of $7.1 million as of 31 December 2025, providing meaningful runway for exploration programs. The board comprises experienced directors with relevant track records in mining and resource development, including Neil Warburton with 45 years of senior corporate experience and Chris Gale, who previously founded Latin Resources and developed the Salinas Lithium Deposit in Brazil. This experienced leadership team should support execution of the exploration strategy.
The presentation suggests management expects sustained news flow from both projects throughout 2026. The dual-project structure in different jurisdictions provides diversification, while the early-stage nature of both programs offers the potential for material discoveries that could substantially revalue the company. The 52-week price range of $0.052 to $0.325 indicates significant volatility, reflecting the speculative nature of exploration-stage investments.
Investors should monitor drilling results from Botswana commencing May 2026 and any follow-up assays from Argentina, as these will be critical catalysts for the stock. The strength of the board and management experience suggests reasonable execution risk, though exploration outcomes remain inherently uncertain. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Belararox Limited (ASX: BRX)
Belararox Limited is a mineral exploration and development company based in Perth, Australia, focused on discovering and developing resources in demand from the technology, battery, and renewable energy markets. The company explores for zinc, lithium, copper, gold, silver, nickel, and lead deposits across its portfolio of projects, including the flagship Toro-Malambo-Tambo project in Argentina and operations in Australia and Botswana. The company was incorporated in 2021 and is engaged in advancing exploration programs across multiple mineral prospects.
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