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Bryah Resources (ASX:BYH) down 9pc after reporting drill results

Mining
ASX:BYH      MCAP $3.484M
18 August 2020 17:25 (AEST)
Bryah Resources (ASX:BYH) - Managing Director, Neil Marston (right)

Source: WA Business News

Bryah Resources (BYH) has received preliminary results from its recent reverse circulation (RC) drilling program at its Bryah Basin Project in Western Australia.

A total of 11 RC holes for 2015 metres were drilled across three locations. These include the Windalah and Mars gold prospects, and the electromagnetic (EM) conductor target.

Drilling largely focused at Windalah, with a total of seven new holes completed. Best results include six metres at 1.56g/t gold including three metres at 2.71g/t gold from 51 metres, 14 metres at 1.02g/t gold including two metres at 2.37g/t gold from 184 metres.

These encouraging assays build on previous results which included gold grading up to 15.05g/t and 21.48g/t gold.

Furthermore, Bryah intersected anomalous copper mineralisation in two holes at Windalah.

Significant results include nine metres at 747 parts per million (ppm) copper, six metres at 796ppm copper and nine metres at 878ppm copper.

Two deep RC holes at the PH1 EM conductor unfortunately, didn’t record any significant gold results. However, subsequent down-hole EM (DHEM) surveys of these holes have recorded significant off-hole conductive EM responses. The company is in the advanced stages of modelling activities to generate updated conductor targets.

“One of the program’s aims was to test for extensions of gold mineralisation intersected in limited earlier drilling. Preliminary results confirm the existence of gold mineralisation at the Windalah Prospect and we are looking forward to receiving the final set of gold assay results in the coming weeks,” Managing Director Neil Marston said.

Bryah will conduct further drilling to follow-up the high-grade gold mineralisation at Windalah and investigate the copper mineralisation.

Company shares dropped 9.09 per cent in the red to trade for 5 cents each at 3:39 pm AEST.

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