Bryah Resources shares climb as drilling firms up new manganese DSO prospect
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Manganese play Bryah Resources’ (ASX:BYH) latest drilling program at the Bryah Basin joint venture project in Western Australia has established the Brumby Creek prospect as a major new discovery with DSO potential, sending shares in the company up more than 10 per cent to 5.4c.
DSO refers to “direct shipping ore” – namely, minerals that require only minimal processing such as crushing before they are exported, which keeps costs low.
Best results from the initial batch of results include 16m at 38 per cent manganese from a depth of 21m within a broader 30m zone grading 33.6 per cent manganese; and 5m at 36.2 per cent manganese from 23m within a 25m interval at 29 per cent manganese.
Manganese is essential in steel production, increasing aluminium’s resistance to corrosion, as an additive in petrol and for newer alkaline batteries.
Managing director Neil Marston says the grades and widths of mineralisation at Brumby Creek are among the best that the company has intersected in this area so far.
“The drilling has again demonstrated that the manganiferous Horseshoe Range, most of which is under our joint venture with OM (Manganese) Limited, has the potential to host significant tonnages of shallow manganese,” he added.
“At the Brumby Creek prospect, we have intersected shallow manganese across multiple areas since we started drilling in 2019. This area is shaping up as major new manganese find within the Horseshoe Range.”
Mineralisation at Brumby Creek remains open along strike to the south.
The results from additional manganese samples are expected to be received from drilling at the Black Hill, Cheval and Black Beauty prospects over the coming weeks.
Results from this drilling will be used to undertake geological modelling ahead of further drilling.
Meanwhile, Euro Manganese (ASX:EMN) has completed the second tranche of a $C4m ($4.2m) placement to progress its Chvaletice manganese project in the Czech Republic.
The second tranche consisted of 6,823,944 shares and 37,878,267 CHESS Depositary Interests (CDIs) priced at 6.1 Canadian cents per share and 6.5 Canadian cents per CDI to raise $C2.73m.
Euro Manganese wants to produce high-purity manganese – used in lithium-ion battery cathodes – from Chvaletice, which is a large anthropogenic deposit of manganese carbonate, contained in waste from an historical mining operation.
Its development will also result in the rehabilitation, restoration and reclamation of a polluted site.