Bryah already enjoying the fruits of Star’s golden hits at Tumblegum South
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Bryah Resources’ stake in Star Minerals is paying off with the latter reporting significant gold hits including 4m at 15.07g/t gold from its initial drilling at Tumblegum South.
Other assay results – such as 14m at 2.49 grams per tonne (g/t) gold and 6m at 3.07g/t – have highlighted the continuation of geology and grade from earlier drilling.
This is all a positive for Bryah Resources (ASX:BYH), which sold the project to Star Minerals (ASX:SMS) in October last year but retains exposure to any upside through a 20.75% stake in SMS which increases to 30% through conversion of performance rights on the start of gold production at the project.
Star chief executive officer Greg Almond said the results confirmed the company’s initial assessment of Tumblegum South and provided further information to support the existing resource of 600,000t grading 2.2g/t gold.
“These results confirm the tonnage and grade information that we have for Tumblegum South, and will provide more information for an updated resource model as we progress our strategy,” he added.
Tumblegum South is located about 40km south of Meekatharra, Western Australia, and is directly along strike from the Tumblegum Pit which was mined by Dominion from 1987 to 1992.
Star’s recently completed drilling is aimed at providing more information on the geology and mineralisation of Tumblegum South and gives the company confidence that the deposit is suitable for further work leading to a mining project study.
Further exploration is expected to begin in February.
This article was developed in collaboration with Bryah Resources, 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.