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Bryah Resources Limited (ASX: BYH, “the Company” or “Bryah”) is pleased to announce its updated Manganese Mineral Resource. Bryah owns 49% of the manganese rights in a Joint Venture with OM (Manganese) Ltd, (“OMM”) a wholly owned subsidiary of OM Holdings Limited (ASX: OMH).
HIGHLIGHTS
- Total Inferred and Indicated JORC 2012 compliant Mineral Resource Estimate 3.07 Million tonnes (Mt) at 20.2% Mn
- Indicated Resource increased by 91% and Inferred Resource increased by 32%
- Mineral Resources estimated at Area 74, Redrum, Brumby Creek, Black Hill and Horseshoe areas - 5 prospects in total
- Manganese defined as a critical mineral by many countries, including the United States for its use in steelmaking and batteries1
MANGANESE EXPLORATION - WHAT’S COMING UP?
- Mining Licence applications lodged in addition to existing granted mining lease at Horseshoe Manganese M52/806
- Environmental approvals progressing
- Ongoing drilling to extend the current Mineral Resource
- Further metallurgical test work to define beneficiation yields
Commenting on the updated Mineral Resource, Bryah CEO Ashley Jones said:
“We are very pleased to announce an updated JORC Mineral Resource Estimate for the Bryah Basin JV Project with OM Manganese. The JV with OMM has allowed us to complete substantial extensional and infill resource drilling at our prospects, delivering a 67% increase in the combined Indicated and Inferred Mineral Resource.
Importantly, we have now achieved a ‘critical mass’ (3 Mt) that allows the JV to progress mining studies and planning to the production stage. The Horseshoe deposits are located within an active mining lease (M 52/806), with recent mining license applications now covering the remainder of deposits included in this Mineral Resource (M 52/1087 and M 52/1088).
The 15% manganese cut-off grade used in this MRE is superior to many of our peers with potentially greater yields to make a saleable manganese product. Historical production at the Horseshoe pits gives us further confidence in achieving a successful mining operation.
We look forward to drill-testing more gradient array induced polarisation and geologically mapped exploration targets and will conduct further resource extension drilling throughout the remainder of 2023. We believe we have just started to unlock the true manganese production potential of the Bryah Basin and look forward to some fruitful years ahead.”
Table 1 August 2023 Manganese Mineral Resource at 15% Mn Cut-off
Note: Appropriate rounding applied. kt = 1,000 tonnes
All the Mineral Resources are now including on either granted or mining licences under application.
- Mineral Resource includes 0.65 Mt at 20.0% Mn on a granted Mining Lease M52/806
- Mineral Resource includes 2.42 Mt at 20.2% Mn on Mining License Applications M52/1087 andM52/1088
- Over 67 % of the resources are in the Indicated Mineral Resource category.
- Indicated Mineral Resources of 2.07Mt at 20.9% Mn and Inferred Mineral Resources of 0.99Mt at 18.6% Mn.
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Bryah Resources
Overview
The global transition to clean energy has ramped up demand for critical metals required to develop new, sustainable technologies such as lithium-ion batteries, solar panels, charging stations and wind turbines. Lithium, nickel, copper and manganese are key resources required to manufacture these low-carbon products. Valued at US$11.3 billion in 2019, the global battery metals market is projected to reach US$20.5 billion by 2027, with a compound annual growth rate of 8.2 percent between 2020 and 2027.
As demand for these resources continues to grow, Western Australia remains a key player in the global mining sector, providing opportunities for mining companies with a presence in the region to capitalize on world-class deposits and benefit from a mining-friendly government. Western Australia has long been a Tier-1 mining jurisdiction and remained strong throughout the pandemic. Western Australia produces 52 percent of the world’s lithium, with Chile in a distant second at 25 percent. China (13 percent) and Argentina (6 percent) are also among the top lithium-producing countries.
Bryah Resources (ASX:BYH) is an exploration and development company with assets in Western Australia. These assets have diverse battery metal mining potential, including lithium, nickel, gold, copper and manganese. They are located throughout the Bryah Basin, a region where, despite its discovery in 2009 as a rich area for exploration, remains underexplored, creating blue-sky potential for the company’s assets. Led by an experienced management team with expertise in the natural resources sector, Bryah Resources is well-positioned for growth.
Bryah Resources Project Locations
The company’s flagship project, Bryah Basin East, consists of two promising assets: Windalah and Olympus. The company discovered a VMS system at the Windalah Prospect confirming the potential of a new copper-gold discovery.
Bryah Resources CEO Ashley Jones called the VMS discovery at the Windalah Project the “most exciting blue-sky event for the company.”
“We’ve got government funding and have planned two drilling campaigns, 400-meter and 600-meter deep holes. If we hit it, it will be amazing; if we don’t, we’re definitely in the right address. I’ve never seen a geological team more excited about a project,” Jones said in an earlier interview,
The company completed its 691-meter diamond drilling program targeting copper-gold VMS mineralization at 300 meters and 500 meters depth at the Windalah copper-gold prospect.
Bryah Resources also made new discoveries at its Horseshoe South Manganese asset, which resulted in a joint venture (JV) partnership with OM Holding Ltd (ASX:OMH), largely due to the potential to develop a low-cost mining operation. OM Holdings is a vertically integrated manganese specialist involved in mining, smelting and trading the mineral, making the company a valuable partner. Bryah Resources holds 49 percent of the asset, with OM Holding retaining 51 percent. The company’s additional assets include projects with copper-gold and lithium-nickel deposits.
Taking the company towards additional exploration and development of its assets, Bryah Resources’ leadership team is guided by decades of experience in the natural resources sector, with geology, finance and business administration expertise, strengthening confidence in its ability to capitalize on its assets.
Company Highlights
- Bryah Resources is an Australia-based mineral exploration and development company with assets in Western Australia.
- The company’s assets include a range of battery metals, such as lithium, copper, manganese and nickel.
- Bryah Resources’ assets are in the Bryah Basin, an underexplored region that only received attention following a 2009 discovery, creating blue-sky potential for the company.
- The discovery of a volcanogenic massive sulphide (VMS) system at the Windalah Prospect within its flagship asset, Bryah Basin East, confirms the potential of new copper-gold deposits.
- Bryah Resources’ discovery at the Horseshoe South Manganese asset attracted the interest of OM Holdings, creating a new JV partnership.
- The company’s additional Western Australian assets include copper-gold and lithium-nickel deposits.
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Battery Metal Exploration and Development Opportunities in Western Australia