Bryah firms up potential for large gold system at Gabanintha
Bryah’s sampling of previously drilled holes at the Australian Vanadium Project has underscored the potential for Gabanintha to host a large-scale gold system.
The company had assayed 1,377 samples from 23 holes with 124 samples returning gold grades exceeding 0.1 grams per tonne (g/t) gold with the latest results returning notable intersections of 21m at 0.74g/t gold from surface and 6m at 0.53g/t gold from 39m.
These follow up on notable intersections of 10m at 27.5g/t gold from 53m including 1m at 182g/t gold from 55m that it reported earlier this year at the New Hope prospect.
Bryah Resources (ASX:BYH) says the latest results support the view that gold occurs in several cross-cutting fault zones within the vanadium-titanium-magnetite deposit.
As such, the major cross faults over the 11km VTM deposit now represent untested gold targets with the company planning a 1,000m RC drilling program to test shallow mineralisation.
“The latest results confirm the existence of gold mineralisation in other drill holes at New Hope,” managing director Neil Marston said.
“The next step for Bryah is to undertake a program of drilling at New Hope to confirm these earlier drilling results and to test for extensions outside of the limited zone of earlier drilling.
“Whilst the earlier gold sampling was focused on the high-grade vanadium zone which Australian Vanadium Limited ultimately plans to mine and process, our focus now will be to broaden our exploration on the potential for standalone gold mineralisation in other parts of the deposit.”
He added that while AVL’s plans for mining vanadium ore at New Hope are many years into their mining schedule, Bryah will be able to mine gold separately from AVL’s activities if it delineates economic gold resources.
Bryah holds a suite of mineral rights including all nickel, copper and gold at the Australian Vanadium project while Australian Vanadium Limited (ASX:AVL) holds the rights to cobalt and the large vanadium-titanium-magnetite resource along with a 5.7% stake in BYH.
AVL is currently progressing its project through a bankable feasibility study, though Bryah’s exploration activities do not interfere with any of the former company’s current activities and studies.
Both companies are also working together to maximise the recovery of metals from the deposit with Bryah taking the lead on the base metal recovery circuit.
Bryah’s upcoming RC drill program will be orientated to intersect the potential gold mineralised zones at more appropriate angles, in line with observed geological information.
Areas of immediate interest have heritage survey clearances and active programs of work.
It will also select further archived pulps from the Australian Vanadium project to submit for gold, platinum and palladium analysis in the coming weeks.
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.