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- Bryah Resources (BYH) has released its quarterly report for the period ending on December 31, 2019
- Drilling at the Tumblegum South Gold-Copper prospect was completed in October 2019
- OMM will provide $2 million in funding for exploration to earn a 51 per cent interest in the Bryah Basin Manganese Joint Venture
- At the end of 2019, the company reported $1.5 million in cash reserves
- On market close, Bryah remains steady and trading at 4.9¢ apiece
Bryah Resources (BYH) has reported its quarterly report for the period ending on December 31, 2019.
Tumblegum South Gold-Copper prospect
Drilling at the Tumblegum South Gold-Copper prospect was completed in October 2019. The prospect is within trucking distance of multiple existing gold plants in the region.
A total of 16 reverse circulation (RC) drill holes for 1,583 metres were completed.
Results from this drilling include 4 metres at 7.83 grams per tonne (g/t) of gold and 0.23 per cent of copper, including 1 metre at 30.24 g/t and 0.28 per cent copper.
The company used a revised 3D geological model of the Tumblegum South prospect. This model is being used to undertake a Mineral Resource Estimation, which is expected to be completed later this month.
Bryah Basin Project
The Bryah Basin Project is located in central Western Australia.
Last year, the company executed a Manganese Farm-In and Joint Venture Agreement with OM (Manganese). The agreement covers only 660 kilometres squared of the entire tenement.
OMM funded $500,000 of project expenditure, which went into drilling highly encouraging manganese drilling results.
In August, OMM proceeded with the joint venture and paid $250,000 exercise fee and earned 10 per cent interest in the project.
Under Stage 2 of the Agreement, OMM will progressively fund the next $2 million of exploration expenditure to earn up to a 51 per cent interest in the Manganese JV by June 30, 2022.
In October, a 1,100 point gravity survey was completed on a 100 metres by 50 metres grid over the Windalah Copper-Gold Prospect.
In 2018 at Windalah, an RC drilling program identified high-grade mineralisation in two holes.
At the end of 2019, the company has $1.5 million in cash, which is a significant increase from September as Bryah had $259,000.
On market close, Bryah remains steady and trading at 4.9¢ apiece.
