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Bryah Resources in trading halt ahead of capital raising news

The company is adding gold and copper to its exploration strategy alongside manganese.

Bryah Resources Ltd - Bryah Resources Ltd in trading halt ahead of capital raising news
Bryah is a Perth-based mining company with projects in the Bryah Basin and at Gabanintha in the Meekatharra region of WA

Bryah Resources Ltd (ASX:BYH) is in trading halt pending capital raising news.

The trading halt will remain in place until the beginning of trade on Monday August 26 or when an announcement is made to market – whichever occurs earliest.

High-grade manganese mineralisation extension

The company identified further high-grade manganese mineralisation in phase-two reverse circulation (RC) drilling earlier this week within the Main Pit area at its Horseshoe South Manganese Mine.

The 83-hole, 2,081-metre program was funded by a subsidiary of manganese specialist OM Holdings Ltd (ASX:OMM) under a $7.3 million farm-in and joint venture agreement signed in April.

Bryah managing director Neil Marston said the final results from second phase drilling confirmed the potential for zones of high-grade manganese mineralisation to be present just below the existing open pit surface.

Gold-copper targets at Gabanintha

The company is also set to drill 1,500 metres in an RC program at the high-grade Tumblegum South gold-copper prospect within its Gabanintha Project in WA.

Drilling will begin in September and be based off 3D modelling which has identified potential opportunities to extend existing zones of gold-copper mineralisation at Tumblegum South.

Quick facts: Bryah Resources Ltd

Price: 0.07 AUD

ASX:BYH
Market: ASX
Market Cap: $10.75 m
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