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Bryah Resources gets boost from partner’s positive PFS result

Bryah holds the rights to all minerals except vanadium, uranium, cobalt, chromium, titanium, lithium, tantalum, manganese and iron ore.

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The company is also progressing a number of other projects in the Bryah Basin

Bryah Resources Ltd (ASX:BYH) owns the rights to minerals including nickel and copper at the Gabanintha Vanadium Project in Western Australia.

Yesterday, Australian Vanadium Ltd (ASX:AVL) revealed a positive pre-feasibility study on the project with a top-end valuation estimate that surpassed US$1.4 billion.

Should the project go ahead and be developed, Bryah stands to gain from the production of any minerals that it owns the rights to.

Most notably, AVL’s the concentrator plant design includes a sulphide flotation circuit which aims to extract minerals that Bryah has the rights to.

READ: Bryah Resources increases inferred base metals resource at Gabanintha

An Inferred base metal JORC resource of 14.3 million tonnes at 666 ppm nickel and 217 ppm copper has been defined at Gabanintha for sulphide-hosted cobalt, nickel and copper.

This is contained exclusively in the fresh massive high-grade magnetite zone (model zone HG10) in Fault Block 20.

An estimated 1,775 tonnes per annum of mixed sulphide concentrate containing 4 to 6% combined cobalt, nickel, and copper will be produced.

AVL to progress to DFS

Positive outcomes and strong vanadium market fundamentals support immediate progression to a definitive feasibility study (DFS).

Further drilling for pilot study is scheduled to commence January 2019.

Bryah to advance from explorer to producer in near-term

Bryah also has a number of other projects in its portfolio located in the Bryah Basin of Western Australia.

These include the Windalah Gold Prospect, the Mount Labouchere Manganese Prospect, and the Horseshoe South Manganese Mine.

Quick facts: Bryah Resources Ltd

Price: 0.049 AUD

ASX:BYH
Market: ASX
Market Cap: $4.76 m
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Bryah Resources completes $2 million capital raising

Bryah Resources Ltd (ASX:BYH) managing director Neil Marston updates Proactive on the completion of a $2 million capital raising with Hartley’s Limited as lead manager. The placement has been strongly supported by new investors as well as from a number of existing shareholders. The funding...

on 4/10/19

2 min read