Belararox grants option over Bullabulling tenements to Minerals 260
Explorer Belararox has signed a binding option agreement with Minerals 260, giving the latter exclusive rights to acquire its Bullabulling project tenements in Western Australia’s Eastern Goldfields region.
Under the agreement, Minerals 260 will pay A$150 000 in cash upfront and has up to two years to exercise the option for A$600 000, payable in cash or shares. The 26 tenements, considered prospective for both gold and lithium, are largely contiguous with Minerals 260’s recently acquired Bullabulling gold project.
Minerals 260 will take over all management obligations and fund exploration during the option period.
“We are very pleased to have executed an option agreement with Minerals 260, a new player in the exciting and prospective Eastern Goldfields, for the acquisition of Belararox’s Bullabulling project tenements,” said Belararox MD Arvind Misra.
“The option agreement will enable the early development of the Bullabulling tenements, reduce Belararox’s costs in Australia and enable Belararox to concentrate on its primary project, the exciting TMT copper project in Argentina, as well as its recently acquired strategic interests in Botswana.”
Belararox said it is awaiting assay results from recent maiden drilling at its TMT copper project in Argentina, with results expected in the coming weeks.
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