Belararox (ASX:BRX) said it began drilling at a new target at its Toro-Malambo-Tambo copper-gold project in Argentina, according to a Tuesday Australian bourse filing.

Drilling began at the Malambo copper-gold target with a diamond-drill rig, with the first hole planned for a total depth of around 1,200 meters, the filing said.

Meanwhile, drilling continues at the Tambo South target, planned for a total maximum depth of 1,300 meters with copper sulfides observed in the drill core.

Its shares fell over 12% at market close on Tuesday.