Bryah nabs strategic exploration ground around namesake project
Bryah Resources has expanded its footprint in WA, securing three exploration licences covering 50 km2 around its existing land holding in the Bryah and Padbury Basins.
The Bryah Basin hosts the high-grade copper-gold mines at DeGrussa, discovered by Sandfire Resources (ASX:SFR) in 2009, and at Horseshoe Lights, which was mined until 1994.
It also hosts several historical and current manganese mines including the company’s Horseshoe South mine.
Bryah Resources’ (ASX:BYH) is confident that the new tenements – E52/3848, E52/3898 and E52/3963 – cover prospective and under-explored areas which have gold, copper-gold and manganese exploration potential.
The tenements were acquired for 4 million ordinary shares at an issue price of $0.055/share.
The largest tenement (E52/3898) covers exploration ground adjacent to the historic Wilthorpe shallow open cut gold mine.
The mine straddles the boundary of new tenement E52/3898 and an adjacent E52/2059, held by Westgold Resources (ASX:WGX).
It was mined by Dominion Mining from 1993-94, producing 4,650 ounces of gold from 72,817 tonnes of ore grading 2.0 g/t gold.
And there has been limited gold exploration since.
Based on the reported mineral occurrences, Bryah considers the tenement package highly prospective for copper, gold, and manganese.
The company will shortly commence a thorough desktop review of all historical exploration reports as well as its own extensive database.
The data review will support a detailed phase of exploration planning, ahead of ground exploration activities.
In the meantime, reverse circulation drilling is underway at Bryah’s manganese JV, in a 2000m program fully funded by partner OM Holdings.
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.