- Bryah Resources (BYH) commits to funding to keep its 49 per cent stake in its manganese joint venture with OM Holdings (OMH)
- The company said this follows the recent maiden manganese JORC resource for the Bryah Basin, recording 1.84 million tonnes at 21 per cent manganese
- Bryah said drilling at the Brumby Creek target has commenced and GAIP surveys will commence next month in the Horseshoe mine prospect area
- On the market, Bryah is up 6.25 per cent and trading at 5.1 cents per share
Bryah Resources (BYH) has committed to funding to keep its 49 per cent stake in its namesake manganese joint venture with OM Holdings (OMH).
The mineral exploration company said the news follows the recent maiden manganese JORC resource for the Bryah Basin in Western Australia’s Murchison region.
The total indicated and inferred JORC compliant mineral resource was 1.84 million tonnes at 21 per cent manganese.
Bryah said drilling at the Brumby Creek target has commenced and gradient array induced polarisation (GAIP) surveys will commence next month in the Horseshoe mine
prospect area.
“The Bryah board see the value of contributing to the Bryah Basin JV Project with OMM (an OM Holdings subsidiary) to maintain Bryah’s 49 per cent position. The announcement of manganese mineral resources underpins mining licence applications in the Brumby Creek and Black Hill locations,” CEO Ashley Jones said.
“Due to the success of the GAIP geophysics program last year, new GAIP surveys will begin in April, allowing Bryah to rapidly test further targets along the prospective Horseshoe Formation.
“This allows Bryah to quickly appraise the next generation of manganese prospects, taking another step closer to reopening this manganese production centre.”
On the market, Bryah was up 6.25 per cent and trading at 5.1 cents per share at 3:46 pm AEDT.