Bryah drilling unlocks new Gabanintha gold targets
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Bryah’s recent aircore drill program is paying off with the discovery of multiple gold targets across the Lady Alma Layered Igneous Complex in its Gabanintha project.
Initial results from the 133-hole program have identified gold mineralisation in a new fault structure about 1.7km southeast along strike from the New Hope prospect where high-grade gold was intersected and supports potential for significant gold mineralisation in nine structural corridors over 11km.
What’s likely to be just as exciting for Bryah Resources (ASX:BYH) is that this new potential is based on the 455 assay results received to date, indicating there is potential for more to come from the plus 1,000 assays that are still outstanding, which so far today has resulted in a 6% positive share price move.
The targeted Lady Alma Layered Igneous Complex is believed to have significant potential to host nickel-copper-gold and platinum group elements. The area has a history of gold production with the historic Gabanintha gold mine just a few kilometres to the north, where Dominion Mining mined shallow open pits to produce 150,000 ounces of gold from 1987-1991.
“There is growing evidence, further supported by these recent gold results from the latest drilling, that cross-faults adjacent to the vanadium-titanium-magnetite deposit at Gabanintha have significant gold potential,” managing director Neil Marston said.
“The drilling result adds a second structurally located prospect, providing us with an exciting opportunity to further investigate 9 targets over the 11km strike length of the deposit.”
He added that along with the high-grade hits at New Hope, the results demonstrate excellent gold potential in the area.
“We intend to have a drill rig on site next month to drill at New Hope and we will now put some additional holes in this latest gold discovery area.”
Bryah’s aircore drilling was completed on five traverses to investigate the extent and zonation of the LALIC.
133 holes totalling 5,539m were drilled into rocks both east and west of the intrusion.
The initial results from the new fault structure includes a top hit of 4m at 2.48 grams per tonne (g/t) gold and 0.064% copper from 29m within a broader 9m zone grading 1.43g/t gold from 24m at 21GAC013.
This is just 1.7km southeast of the 1m at 182g/t gold from a 55m intersection at New Hope that is part of a broader 10m zone at 27.5g/t gold from 53m.
Bryah is completing a full multi-element suite, including whole rock geochemistry, rare earth elements and trace elements from the bottom of hole samples.
This dataset will be applied in studies aimed to determine chemical zonation of the LALIC, to identify horizons that may be prospective for economic metal concentrations, both for itself and Australian Vanadium (ASX:AVL).
Potential economic concentrations of nickel, copper, chromium and/or PGEs may be present in the more basal parts of the LALIC.
The company plans to carry out a detailed ground magnetic survey over New Hope and the 21GAC013 hole to better define the potentially gold-bearing cross-cutting fault zones within the vanadium-titanium-magnetite deposit.
Follow-up reverse circulation drilling is also planned for November this year with Bryah noting that areas of immediate interest have heritage survey clearances.
It will also submit selected further archived drilling pulps from the project for gold, platinum and palladium analysis.
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.