Bryah Resources, announces it has executed exclusive option agreements to purchase the historic Horseshoe South manganese mine.
Perth-based Bryah Resources (ASX:BYH), announces it has executed exclusive option agreements to purchase the mining lease covering the historic Horseshoe South manganese mine as well as the rights to prospect, explore, mine and develop manganese ore covering a total of 154km2 of ground within the Bryah Basin in central Western Australia.
The mining lease and manganese rights are currently held by Peak Hill Manganese Pty. The option agreements are for a period of one-year and options fees of AU$120,000 cash will be payable upon completion of final due diligence in the coming weeks.
As quoted from the press release:
The Horseshoe South Manganese mine was the largest manganese mine in the Bryah and Padbury Basins. The mine was last operated from 2008 to 2011 by Process Minerals International, a subsidiary of ASX-listed Mineral Resources Limited (ASX:MIN).
The Company is delighted to have secured the option to acquire the Manganese Rights and most importantly the granted mining lease over the largest manganese mine in the region.
Recent site visits have identified evidence of manganese outcrops both within M52/806 and the adjoining E52/1860. The Company therefore intends to embark on a detailed exploration and evaluation programme during the Option Period which will include:
- Stockpile sampling and metallurgical testwork
- Ground mapping and sampling
- Trenching and