Bryah Resources Ltd (ASX:BYH) has completed 2,315 metres of drilling at the Bryah Basin JV project with four locations, including Brumby Creek, Black Hill, Cheval and Black Beauty, ticked off the list.
The drilling program tested for extensions of high-grade manganese mineralisation intersected at Brumby Creek and Black Hill from previous drilling completed in May 2020 as well as testing new manganese targets – Cheval and Black Beauty.
All samples have been delivered to a laboratory for analysis with results expected over the coming weeks.
Key component of strategy
Bryah believes the results from this drilling program will be a key component of the company’s ongoing manganese exploration strategy.
The results will guide the planning of the next phase of drilling, which is anticipated to be completed in the December quarter this year.
Bryah Basin manganese joint venture
In April 2019, the company executed a manganese farm-in and joint venture agreement with OMM, a wholly-owned subsidiary of OM Holdings Ltd (ASX:OMH).
The agreement applies to the rights to manganese over around 660 square kilometres in the Bryah Basin, including the historic Horseshoe South Manganese mine.
Under stage-2 of the agreement, OMM can elect to fund the next $2 million of exploration expenditure in four tranches of $500,000 each, to earn up to a 51% interest in the Manganese JV by June 30 2022.
OMM has completed tranche-1 funding of $500,000 and now holds a 20% JV interest.
Bryah is project manager of the JV until OMM has earned a 51% interest and has elected to be project manager. The drilling has been funded by OMM under the Manganese JV Agreement.