The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Bryah Resources (BYH) bolsters the base metals mineral resource by 15 per cent at the Australian Vanadium Project deposit within its Gabanintha project in central WA
  • The company increases the indicated and inferred mineral resource at the deposit to 36 million tonnes at 766 parts per million (ppm) nickel, 212 ppm copper and 231 ppm cobalt
  • Bryah holds a suite of mineral rights over the deposit at Gabanintha, with other mineral rights held by major investor Australian Vanadium (AVL)
  • AVL recently completed a bankable feasibility study (BFS) at the deposit and was granted $49 million from the government to progress critical minerals
  • Bryah shares are up 4.65 per cent and trading at 4.5 cents per share at 12:40 pm AEST, while AVL shares are grey and trading at 4.7 cents each at the same time

Bryah Resources (BYH) has bolstered the base metals indicated and inferred mineral resource by 15 per cent at the Australian Vanadium Project deposit within its Gabanintha project in central WA.

The company has increased the indicated and inferred mineral resource at the deposit from 31.3 million tonnes to 36 million tonnes at 766 parts per million (ppm) nickel, 212 ppm copper and 231 ppm cobalt.

Bryah holds a suite of mineral rights over the Australian Vanadium Project at Gabanintha, which includes nickel, copper and gold — all critically important in the electrical vehicle market.

Australian Vanadium (AVL), on the other hand, holds the mineral rights to the vanadium, titanium, iron, and cobalt from the project, and is a major shareholder in Byrah, holding a 4.8 per cent interest in the company.

Bryah said both companies were working together to maximise the recovery of metals from the vanadium-titanium-magnetite deposit.

AVL recently completed a bankable feasibility study (BFS) at the deposit and was granted $49 million from the government to progress critical minerals.

Bryah Resources CEO Ashley Jones said AVL was progressing “strongly” towards vanadium production from the project, and Bryah was subsequently stepping closer to realising value in its mineral rights.

“Metallurgical test work from 2018 and 2022 indicate that a significant non-magnetic nickel-copper-cobalt rich sulphide tailings stream would come from the plant following magnetic separation of the vanadium-bearing magnetite concentrate,” Bryah Resources CEO Ashley Jones said.

“We know that the vanadium ore beneficiation process effectively concentrates the sulphide minerals in the tail, enabling further concentration by flotation methods.”

Bryah is now liaising with AVL to include the base metal circuit into the BFS study format. This may include further test work.

Bryah shares were up 4.65 per cent and trading at 4.6 cents per share at 12:40 pm AEST, while AVL shares were grey and trading at 4.9 cents each at the same time.

BYH by the numbers
More From The Market Online
The Market Online Video

Market Close: Autumn’s ASX200 record breaking start

The ASX200 has closed the first day of Autumn at a new record 7745.6 points -…
The Market Online Video

Ark Mines (ASX:AHK) improves REE grades at Sandy Mitchell

North Queensland-based REE explorer Ark Mines (ASX:AHK) has proven higher-grade mineralisation is present on-site.

Week 9 Wrap-up: ASX hits 2 new ATHs on US inflation + the headlines that mattered

What a week. As US markets continue to go crazy after the American earnings season (read: NVIDIA), the ASX has done the same. 
OBM

Ora Banda Mining secures $30 M placement, marks progress toward second underground mine

Ora Banda Mining (ASX:OBM) has completed a single tranche placement, securing commitments at an issue price…