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Bryah Resources has completed the first phase of manganese exploration drilling at its Bryah Basin project in central Western Australia, under a $7.3 million joint venture agreement signed in April with OM Holdings.

Today, on 30 May 2019, the company announced that the Stage 1 of manganese exploration drilling within the Bryah Basin in central Western Australia had been completed. The drilling work had commenced earlier this month (as reported on 7 May 2019).

Bryah Resources is managing the drill programme and the funding is being extended by OM Manganese Limited (OMM) as per the recently executed AU$ 7.3-million Manganese Farm-In and Joint Venture agreement between Bryah and OMM, a subsidiary (100%-owned) of OM Holdings Limited (ASX: OMH). Pursuant to the terms of the agreement, OMM is providing $500,000 of the manganese exploration (see Figure 1) until 30 June 2019.

Bryah Resources Ltd (ASX:BYH) has successfully completed the first phase of manganese exploration drilling within the Bryah Basin in central Western Australia.

The drilling program is being managed by Bryah and funded by OM (Manganese) Ltd (OMM) under the recently announced $7.3 million agreement between Bryah and OMM, a wholly owned subsidiary of OM Holdings Ltd (ASX:OMH).

More than three decades ago Dane Sorensen took a chance on mining and it paid off, now he hopes to inspire the next generation of Australian explorers.

Having primarily worked with junior miners like Bryah Resources in recent years, Dane said he enjoyed the open communication they offered. “Smaller companies are personable, you’re talking to the directors and the managers more directly so always have a good idea of what’s going on,” he said.

While its workers benefit from engagement with junior explorers, Dane said he had seen first-hand the importance of junior explorers to the industry as a whole.

Bryah resources Limited (ASX: BYH), a metal and mineral explorer, announced on 7th May 2019 that the company started the drilling activity at the historic Horseshoe South manganese mine within the Bryah Basin in central Western Australia. The company recently signed a $7.3 million manganese Farm-In and Joint Venture deal with OM Holdings Limited (ASX: OMH) and moved towards the drilling on priority targets at the prospect.

The Joint Venture includes a Stage 1 project expenditure of $500,000 to undertake to drill, and the company commenced it before the deadline of 30th June 2019 and started the drilling of a minimum of 3,000 metres at the prospect.

New exploration duo Bryah Resources (ASX: BYH) and OM Holdings (ASX: OMH) have kicked off a drilling program at the historic Horseshoe South manganese mine in central Western Australia’s Bryah Basin.

The campaign follows a farm-in and joint venture deal inked by the pair late last month, which involves OM Holdings earning up to 70% of Bryah’s manganese rights at the Bryah Basin project.

Bryah has moved quickly to commence drilling following the signing of a $7.3 million manganese farm-in deal with OM Holdings.

Bryah Resources Ltd's (ASX:BYH) shares are trading about 8% higher intra-day after commencing its program of manganese drilling at the historical Horseshoe South manganese mine within the Bryah Basin in central Western Australia.

Managing Director, Neil Marston, interviewed by Boardroom Media

Bryah Resources Limited (ASX:BYH) has announced it has completed the acquisition of the historic Horseshoe South manganese mine in Western Australia.

The company is pleased to advise that it has completed the purchase for a total consideration of AU$340,000, being a cash payment of AU$170,000 and the issue of ordinary shares to the value of AU$170,000. A total of 2,615,385 new shares have been issued to the vendor, Peak Hill manganese Pty Limited, at AU$0.065 per share as determined under the option agreements.

Mineral Explorer, Bryah Resources Limited (ASX:BYH) made a set of announcements on 29th April 2019 regarding acquisition of historic Horseshoe South Manganese Mine and quarterly updates.

The company announced exercising options to acquire the historic Horseshoe South Manganese Mine for a total consideration of $340,000, with a cash payment of $170,000 and the issue of ordinary shares valued at $170,000 as well as rights to prospect, explore and mine manganese ore, while having Manganese Rights over a stretch of 154km2 within the Bryah Basin in central Western Australia.