By : Inspenet, Jan 11, 2023
Australia-based mining company Belararox has signed a non-binding terms agreement with FOMO Ventures to acquire the Toro-Malambo-Tambo (TMT) project, which is located in the Valle del Cura region of San Juan, Argentina.
“The TMT project comprises a number of prospects. There is previously reported strong epithermal mineralization at Toro and several targets at Malambo and Tambo, which have not seen modern systematic exploration,” said the FOMO CEO, who also explained that the Australian firm will conduct the work required by the project.
Studies are being carried out and various projects are being planned to validate the information from previous reports. Belararox seeks to confirm the potential zinc mineralization in the little more than 32,000 hectares that the complex has.
According to previous reports at Toro there is significant epithermal mineralization, and prospects for Malambo and Tambo are high, although modern exploration is still lacking.
“This acquisition fits into our existing battery minerals strategy and will help take our company to the next level,” the Australian firm explained, highlighting San Juan’s mining-friendly policies.
Source : https://www.petrolnews.net/noticia.php?&r=43787
Photo: ShutterStock
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