viewBryah Resources Ltd

Bryah Resources posts maiden gold resource for Tumblegum South

The maiden resource is part of a process to fast-track the deposit to near-term production.

Bryah Resources Ltd - Bryah Resources posts maiden gold resource for Tumblegum South
The Tumblegum South deposit is nearby to existing gold plants

Bryah Resources Ltd (ASX:BYH) has delivered a maiden resource of 42,500 ounces grading 2.2 g/t gold at its Tumblegum South Gold-Copper Prospect within its Gabanintha Project, WA.

The company is now proceeding with a mining lease application and has commenced a formal process to monetise the prospect given its near-term development potential.

Five lodes were used to estimate the resource with multiple mineralised zones identified suggesting significant potential exists to extend the resource.

Extensions identified

Bryah’s managing director Neil Marston said: “This maiden mineral resource estimation is an excellent outcome for the company.

“We have identified multiple zones of shallow gold mineralisation, with down dip and along strike extension potential.

Targeting near-term open pit mining operation or sale

“We are delighted with the overall grade and tonnage for a maiden resource and, given a 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.

“We have commenced a formal process to solicit interest in the Tumblegum South Prospect and intend initiating the mining lease application process immediately.”

Metallurgy test work planned

The company also intends to submit a number of samples to a laboratory for cyanide leaching test work to confirm preliminary metallurgy characteristics.

Quick facts: Bryah Resources Ltd

Price: 0.02 AUD

Market: ASX
Market Cap: $2.02 m

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Full interview: Bryah Resources' maiden Tumblegum South gold resource an...

Bryah Resources (ASX:BYH) chief executive officer and managing director Neil Marston updates Proactive on the completion of a maiden gold mineral resource estimate at Tumblegum South Gold-Copper Prospect within the Gabanintha Project. The estimate delivers an inferred mineral resource of...

on 30/1/20

2 min read