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Business News [subscription]

A new mine in WA and aspiring producers are contributing to rising Australian manganese output.

Stockhead

Bryah’s sampling of previously drilled holes at the Australian Vanadium Project has underscored the potential for Gabanintha to host a large-scale gold system.

The company had assayed 1,377 samples from 23 holes with 124 samples returning gold grades exceeding 0.1 grams per tonne (g/t) gold with the latest results returning notable intersections of 21m at 0.74g/t gold from surface and 6m at 0.53g/t gold from 39m.

These follow up on notable intersections of 10m at 27.5g/t gold from 53m including 1m at 182g/t gold from 55m that it reported earlier this year at the New Hope prospect.

Bryah Resources (ASX:BYH) says the latest results support the view that gold occurs in several cross-cutting fault zones within the vanadium-titanium-magnetite deposit.

As such, the major cross faults over the 11km VTM deposit now represent untested gold targets with the company planning a 1,000m RC drilling program to test shallow mineralisation.

Stockhead

Got 90 seconds? Then listen to Managing Director, Neil Marston tell us about their company news.

Bryah Resources Limited (ASX:BYH) is a Perth-based mineral exploration company with a focus on exploration for high-grade copper-gold and manganese resources located in its two projects areas in the Bryah Basin and at Gabanintha in the Meekatharra region of Western Australia.

Bryah’s joint venture partner OM holdings has recently grown its stake in the Bryah Basin manganese project to 51%.

We gave Neil Marston, Managing Director of Bryah Resources, 90 seconds to tell us more about the recent announcement

Stockhead

Bryah is increasingly confident that it is vectoring in on a potential copper-gold source at its Windalah prospect after drilling intersected a broad sulphide-rich zone.

Notably, the zone returned highly-elevated volcanogenic massive sulphide (VMS) pathfinder minerals as well as top copper hits of 2m at 0.23% copper from 132m and 4m at 0.12% copper from 136m.

Along with a dipole-dipole induced polarisation survey identifying a coincident geophysical anomaly at depth, Bryah Resources (ASX:BYH) believes that the latest drilling of eight holes in April is closer to the copper-gold source.

The result is encouraging as the Bryah Basin, where Windalah is located, hosts some world-class VMS copper-gold deposits such as Sandfire’s DeGrussa.

Seeking Alpha

"Bryah Resources reports 31.3Mt Nickel-Copper-Cobalt Mineral Resource at the Australian Vanadium Project." Highlights include:

• "Bryah Resources (ASX:BYH) reports 31.3 million tonne nickel-copper-cobalt Mineral Resource at the Australian Vanadium Project (appended).
• Bryah holds a suite of mineral rights including nickel, copper and gold over the Australian Vanadium Project at Gabanintha.
• AVL holds the mineral rights to vanadium, titanium, iron and cobalt and is a major shareholder (7.14%) of Bryah.

Stockhead

In a sign of confidence for Bryah Resources’ developing Bryah Basin manganese project, JV partner OM Holdings has committed to grow its stake to 51%.

OM, which is funding exploration at the project owned and managed by Bryah Resources (ASX: BYH), has again put its money where its mouth is with a commitment to spend a fourth tranche of $500,000 at the JV.

It will take the total investment OM has made in the JV to $3 million since 2019, after the Singapore-based miner recently spent a further $500,000 to up its stake from 30-40%.

Malaysian-listed OM’s enthusiasm for the Bryah Basin JV has only gotten stronger since Bryah reported recent samples of up to 49% in rock chips.
While it didn’t release an announcement of its own, OM’s shares skyrocketed this morning by 24% to more than $1.

Livewire

180 Markets raised $4m for Bryah Resources (ASX: BYH) at a price of 7.5c per share. All investors received a free attaching 9c option that will expire in 2023. The raise was many times oversubscribed which is not surprising given the current investor confidence in the copper, gold and manganese sectors. Funds raised will be applied for its extremely busy drilling at the company's Bryah Basin and Gabanintha projects, for sample analyses, technological staff & contractors, remote sensing and metallurgical testwork. Bryah Resources has successfully been granted an allocation of up to $585,000 in JMEI tax credits for the 2020/2021 income tax year. It has been a long time coming since Bryah Resources has been fully funded and now they are able to be fully capitalised on their drilling projects. Drill Drill Drill. Previous raises have fallen short and we at 180 Markets were extremely proud to be so heavily oversubscribed.

Stockhead

ASX Capital Raise Review is a fortnightly look at ASX capital raisings.

Should we lock ‘em down for 22 hours per day or let ‘em loose, in Melbourne? Is inflation heading out of control or is technology innovation the ultimate deflator? What are the correct answers? The simple truth is we don’t know and you should be prepared to get comfortable with uncertainty.

Regarding the inflation topic, we are seeing strong interest in those companies with commodity projects including the likes of Duke Exploration (ASX: DEX), Argonaut Resources (ASX: ARE), and Bryah Resources (ASX: BYH) which act as a hedge against inflation. Whether inflation is real or perceived, the issue is affecting current share prices positively.

Business News [subscription]

Bryah Resources has secured funds from a heavily oversubscribed share placement to continue its search for copper and gold in WA's Murchison region.

The West Australian [subscription]

Junior explorer Bryah Resources has closed out a heavily oversubscribed capital raising as it continues to hunt for copper and gold in the Murchison.