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Bryah Resources Ltd.
Summary
| Project: | Bryah Basin | |
|---|---|---|
| Deposit: | Windalah East | |
| Location: | Australia | |
| Commodities: | Manganese | |
| Date: | 4/30/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-4-2020: Bryah Resources Ltd. announces an Exploration/Drilling Update report for its Windalah East deposit at the Bryah Basin project. Drilling results incl. 3m @ 0.7g/t Au from 24m. Commenting on the quarterly activities of the Company, Managing Direc | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tony Standish (Not stated) | |
| ABSTRACT: | Commenting on the quarterly activities of the Company, Managing Director Neil Marston said, “The latest quarter has been extremely challenging as the Company has had to adjust its exploration activities and finances in response to the COVID-19 pandemic and resultant equity market volatility. The Board has moved quickly to reduce administrative and discretionary expenditure, including a 50% reduction in Directors’ remuneration. The quarter started well with the announcement of a maiden Mineral Resource Estimate at our Tumblegum South prospect. Since listing in 2017 we have completed 2 drilling programs at Tumblegum South and already we have estimated an Inferred Mineral Resource of 600,000 tonnes at 2.2 g/t Au for 42,500 oz Au. This maiden mineral resource estimation is an excellent outcome for the Company. At Tumblegum South shallow gold mineralisation has been identified within multiple zones, with down dip and along strike extension potential. We are delighted with the overall grade and tonnage for a maiden resource and, given the 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. The Company is in on-going discussions with other parties about this opportunity. | |
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