viewBryah Resources Ltd

Bryah Resources to start RC drilling at Windalah Gold Prospect this week

The drilling program is being funded from a recently completed tranche-1 placement which raised $1,026,548.

Bryah Resources Ltd - Bryah Resources to start RC drilling at Windalah Gold Prospect this week
Drilling will test the Windalah prospect and an EM conductor near the Peak Hill Gold Mine

Bryah Resources Ltd (ASX:BYH) is set to begin 2,000 metres of reverse circulation (RC) drilling of gold and copper targets in the Bryah Basin later this week funded by the tranche-1 placement completed last week.

This drilling will test the Windalah gold prospect as well as a high-priority EM conductor target north of Peak Hill.

The Bryah Basin is host to the high-grade copper-gold mines at DeGrussa, discovered by Sandfire Resources Ltd (ASX:SFR) in 2009 and at Horseshoe Lights, which was mined until 1994.

Company moves quickly

Managing director Neil Marston said: “Following the successful completion of the tranche-1 placement, the company has moved quickly to commit to drilling the first of its excellent gold and copper targets.

“We have some outstanding gold results at Windalah to follow-up and the EM target north of Peak Hill has the potential to be indicative of Volcanogenic Massive Sulphide (VMS) copper-gold mineralisation.”

The drilling program is being funded from the recently completed tranche-1 placement of 20,530,960 new shares at an issue price of 5 cents per share which raised $1,026,548 (before costs).

Windalah project location map.

Drilling targets

The program will follow up recent drilling results at Windalah of:

  • 12 metres at 4.32 g/t from surface, including 2 metres at 17.19 g/t from 3 metres;
  • 5 metres at 6.62 g/t from 79 metres, including 1 metre at 15.15 g/t from 82 metres; and
  • 3 metres at 6.69 g/t from 145 metres, including 1 metre at 10.52 g/t from 146 metres.

The program will also target a significant electromagnetic (EM) conductor target 7 kilometres north of the Peak Hill Gold Mine where the company plans to drill and case two holes to a depth of around 300 metres.

This conductor was originally identified in early 2018 by a helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) geophysical survey and subsequently confirmed by a Moving Loop Electromagnetic (MLEM) ground survey.

Once cased, the company will be able to undertake down hole EM surveys of the drill holes, to assist in follow-up exploration.

Quick facts: Bryah Resources Ltd

Price: 0.053 AUD

Market: ASX
Market Cap: $6.99 m

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Bryah Resources buoyed by high-grade Bryah Basin gold and copper results

Bryah Resources Ltd (ASX:BYH) managing director Neil Marston speaks to Proactive about highly encouraging gold and copper results from recent reverse circulation (RC) drilling at the Bryah Basin Project. The company completed 11 RC drill holes for 2,015 metres at three locations – the...

on 20/8/20

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