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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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This article includes content from Bryah Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
BYH:AU
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Maiden Drill Program Set to Commence at the High-Priority Cangallo Porphry Copper Project
- Maiden RC drill program to commence at Cangallo in mid-December
- Program will test a large-scale, undrilled porphyry copper target
- Assay results expected around the end of January 2025
- Permitting underway for drill programs across other high-priority, large-scale porphyry copper targets at Lantana and Playa Kali
Access and drill pad preparations have commenced with drilling scheduled to start around mid-December. The planned program, which comprises a minimum of eight drill-holes for a total of ~2,500m, will take 3 to 4 weeks to complete with assay results expected around the end of January 2025.
Figure 1: Cangallo Porphyry Copper Prospect showing copper and molybdenum values and permitted drill sites.
Geological mapping and rock-chip sampling has outlined a partially exposed potential copper (+/- gold) porphyry system, within a large-scale (3km x 2km) caldera-like structure containing extensive colluvial and younger sediment cover.
The initial drilling program will test areas containing relatively intense veining (quartz) and porphyritic dykes, where higher copper (up to 0.65% Cu) and gold (up to 0.3g/t Au) values have been found. The possibility of a buried porphyry copper system beneath the extensive cover within the interpreted caldera-like structure will also be tested.
Cangallo is located close to significant infrastructure and is approximately 25km from the town of Chala, and within 10km of the coast.
Commenting on the imminent commencement of drilling at Cangallo, AusQuest’s Managing Director, Graeme Drew, said:
“This is a very exciting time for the Company as we are about to commence the maiden drill program at this high-priority porphyry copper target in Peru which we have been working towards for over 12 months.
Cangallo has never been drilled before and demonstrates classic geochemical and alteration signatures which suggest there is significant potential to discover large-scale copper porphyry mineralisation.
Success at Cangallo has potential to create significant value for our shareholders and we look forward to keeping our shareholders updated as the results become available.”
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This article includes content from AusQuest limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
