Bryah adds a new lithium-nickel project to its energy minerals exploration plans
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Bryah Resources has just acquired a new exploration project for its WA energy minerals portfolio in the Lake Johnston lithium project – which consists of eight exploration licence applications covering 690km2.
The company says the project enhances its strategy of exploring for energy metals in a proven geological environment.
This is because the tenure extends to within 10km of the Mount Holland lithium mine being developed under the Wesfarmers Limited (ASX:WES) and SQM Australia Pty Ltd joint venture – which hosts the Earl Grey deposit with a reported mineral resource of 189 million tonnes grading 1.5%.
And Lake Johnston is also close to the historic Maggie Hays/Emily Ann nickel projects held by Poseidon Nickel (ASX:POS) which produced 46,000 tonnes nickel with a resource grade averaging 4.1%.
Bryah Resources (ASX:BYH) managing director Neil Marston said the acquisition also complements the company’s copper-nickel resource at Gabanintha and evolving manganese project in the Bryah Basin.
“Bryah is in energy metals’ focused company with copper, lithium, nickel, gold and manganese assets in Western Australia,” he said.
“This acquisition broadens our exploration reach.
“The tenements Bryah will be exploring shortly are within a region which has been proven to be highly prospective for lithium as well as nickel and copper – all vital commodities in the EV/energy storage revolution.”
Five of the eight licences, covering 465 sq km, have recently been applied for by Bryah – with a further three licences covering 225 sq km under licence applications held by West Coast Minerals Pty Ltd.
The company has agreed to purchase West Coast Minerals which, upon settlement, will become a wholly owned subsidiary of Bryah Resources Limited.
Consideration is $181,000, consisting of $75,000 cash and two million ordinary shares in Bryah at a deemed price of $0.053 per share, totalling $106,000.
“Recent exploration work for lithium and nickel on our Lake Johnston tenements has been limited, however the region has huge potential for new discoveries using modern exploration techniques,” Marston said.
“We will kick off exploration and desktop studies within weeks and look forward to getting our team on the ground in 2022.”
Once the tenements are granted, Bryah will undertake the following:
This article was developed in collaboration with Bryah Resources Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.