Bryah Resources Limited (ASX: BYH) has completed the maiden mineral resource estimation at the Tumblegum South Gold-Copper Prospect, located within its Gabanintha Project, near Meekatharra in central Western Australia.
Managing Director, Neil Marston said estimation studies had produced a robust Inferred Mineral Resource of 600,000 tonnes @ 2.2 g/t Au for 42,500 ounces gold using a cut- off grade of 0.3g/t Au.
“This maiden mineral resource estimation is an excellent outcome for the company,” Mr Marston said.
“We have identified multiple zones of shallow gold mineralisation, with down dip and along strike extension potential.
“We are delighted with the overall grade and tonnage for a maiden resource and, given a buoyant outlook for gold, indications are that the prospect has the potential to profitably support open pit mining and trucking to an off-site processing plant.
“With the current high gold price there is excellent potential for the company to monetise the prospect, either through an outright sale, or some other form of commercial development.
“We have commenced a formal process to solicit interest in the Tumblegum South Prospect and intend initiating the mining lease application process immediately.”
The Mineral Resource Estimation was completed in accordance with the JORC Code (2012) and is based on 49 reverse circulation (RC) drill holes for a total of 5,640 metres.
Seven holes were drilled by Yellow Rock Resources Limited (YRR) (re-named Australian Vanadium Limited) during 2013 for 1,571m, and 42 holes were drilled by Bryah during 2017 and 2019 for 4,069m.
The project area is immediately south of open pits of the Gabanintha Gold Mine which were mined between 1987 and 1992 by Dominion Mining Ltd in a Joint Venture with Southern Ventures NL and Black Swan Gold Mines Ltd.
Bryah holds a suite of mineral rights over tenements covering 170 sq. km held by Australian Vanadium Limited. The mineral rights held by Bryah are for all minerals, excluding vanadium, titanium, cobalt, chromium, uranium, lithium, tantalum, iron ore and manganese.