Belararox Limited has reported its inaugural drilling campaign results at its TMT project in Argentina’s San Juan Province, highlighting successful copper mineralisation findings at the Tambo South target. Two diamond drill holes intersected several copper-bearing zones identified using a 0.1% Cu cut-off and located within broad areas of anomalous copper levels. The assays recorded copper grades around 0.11–0.13%, accompanied by trace amounts of gold and molybdenum. The technical interpretation suggests that the main copper porphyry target remains largely untested, providing a promising basis for follow-up drilling scheduled to commence in November 2025 after the integration of down-hole assay data into updated 3D geochemical models. The drill results offer encouraging evidence that the targeting strategies are on track. Geological logs from Tambo South indicate multiple intrusive phases with copper mineralisation that include covellite and hypogene chalcocite, consistent with a high-sulphidation epithermal overprint onto a porphyry system. In contrast, drilling at the Malambo target, which forms part of the same project, revealed a complex intrusive system primarily characterised by pyrite, with only minor occurrences of chalcopyrite and molybdenum-bearing minerals—and without significant copper, gold or molybdenum values at this stage. In addition to emphasising the technical milestones achieved through first-pass diamond drilling, the company outlined plans to update its geological and geochemical 3D models and assess other highly prospective targets within the broader project area. This forward-looking exploration approach is designed to refine the location of potential higher-grade zones and support an extensive follow-up testing program. Bullish sentiment is evident given the promising copper intercepts encountered in the initial drill holes, which support the company’s exploration model. Investors might view the early technical success and plans for further drilling as a positive indicator of the potential for a sizeable copper resource, especially in a region known for its prolific metallogenic belts. On the other hand, a bearish perspective is warranted by the inherent risks of early-stage exploration. With only two drill holes approved and mixed results from the Malambo target, uncertainty remains regarding the full extent of the mineralisation and the commercial viability of the project.