The Conversation (0)
Bryah Resources Limited (ASX: BYH, “Bryah” or “the Company”) is pleased to present its Half Year Report.
Directors Report
Your directors submit the financial report of Bryah Resources Limited (“the Company”) for the half-year ended 31 December 2022. This report should be read in conjunction with announcements to the Australian Securities Exchange (ASX). In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:
Directors
The names of the Directors who held office during or since the end of the half-year and until the date of this report are noted below. Directors were in office for this entire period unless otherwise stated:
- Ian Stuart - Non-executive Chair
- Leslie Ingraham - Non-executive Director
- Brian Davis - Non-executive Director
Corporate
The net loss for the half-year attributed to members of Bryah Resources Limited was $737,199 (2021: profit of $1,113,845).
During the half year the Company issued the following securities following a successful placement to sophisticated investors. The placement was largely taken up by existing shareholders which was the top 20 % rise from 43% to 50.1%. A general meeting was held on 12 October 2022 and the Annual General Meeting of shareholders was held on 23 November 2022:
- 53,046,299 New Shares under the Placement raising $1,432,250 (before costs) was completed on Friday 12 August 2022.
- 2,000,000 unlisted options, exercisable at $0.054, and expiring 3 years from the date of issue for the role as lead manager of the Placement, Spark Plus (Australia) Pty Ltd (or its nominee(s))
Projects
The Company is a copper-gold and manganese focused explorer with three projects. Two are located near Meekatharra, Western Australia, being the Bryah Basin Project and the Gabanintha Project. One is located near Lake Johnston, approximately 400 km east of Perth and 200 km southwest of Kalgoorlie in Western Australia. (Figure 1).
Figure 1 Location of Projects
Bryah Basin Projects
The Bryah Basin project covers approximately 1,048km2 in central Western Australia. The project is located close to several mining operations including the high-grade Volcanogenic Massive Sulphide (VMS) DeGrussa copper-gold mine operated by Sandfire Resources NL (ASX: SFR) and the Fortnum gold mine operated by Westgold Resources Limited (ASX: WGX).
Click here for the full ASX Release
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
Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
Click here for the full ASX Release
This article includes content from EMU NL, 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.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
Click here for the full ASX Release
This article includes content from Basin Energy, 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.
