News and Announcements
Bryah Resources Lodges Supplementary Prospectus; Latest Exploration Update
- Published August 07, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Bryah Resources Limited (“Bryah” or “the Company”) is pleased to provide the following update on its exploration activities ahead of its planned listing on the Australian Securities Exchange (ASX).
INITIAL PUBLIC OFFER
On 17 July 2017, the company lodged a Supplementary Prospectus with ASIC, the purpose of which is to allow the Company additional time to complete the capital raising and listing of the Company on the ASX. The revised closing date for the IPO is now 21 August 2017.
EXPLORATION UPDATE
Bryah Basin Project
Aeromagnetic Survey
In March 2017, the Company funded a detailed airborne magnetometer and radiometric survey of approximately 16,000 line kilometres over a substantial part of the Bryah Basin Project.
The survey was successfully completed and has provided the Company with an impressive dataset which has been merged with existing survey data. Consulting geophysicists at Resource Potentials Pty Ltd are currently interpreting the data to identify targets for follow-up exploration and testing.
The results of the targeting work should be available at the time the Company lists on ASX.
Geological Mapping
In June 2017 the Company engaged a consulting geologist from Model Earth Pty Ltd to undertake a programme of geological mapping across the Company’s various tenements in the Bryah Basin.
The results of the geological mapping were highly encouraging with evidence of a very large-scale hydrothermal alteration system within the upper Narracoota Formation being confirmed across the Jupiter, Saturn and Mars Prospects located on E52/3236, E52/3238 and E52/3454. Altered upper Narracoota Formation was also encountered in large areas east of Horseshoe Lights within E52/3453. Within E52/3401, a full thickness of Narracoota Formation is preserved in the area north of the Peak Hill gold mine, including both the DeGrussa (lower Narracoota Formation) and Horseshoe Lights (upper Narracoota Formation) stratigraphic positions.
The Company is finalising over the next few weeks, in consultation with its geophysical and geological consultants, the next phase of the exploration programme.
Gabanintha Project
Tumblegum South Prospect
In June 2017, the Department of Mines and Petroleum issued the Company a Programme of Work Approval for drilling at the Tumblegum South gold/copper prospect.
A heritage survey with the local native title claimant group over the site of the approved drilling is to be completed shortly. Once this survey is completed, the Company will be able to commence drilling.
The Company intends to undertake drilling at Tumblegum South as its first major activity following listing on ASX.
ABOUT BRYAH RESOURCES LTD
Bryah Resources Limited is a Perth-based mineral exploration company established with the purpose of exploring for and discovering high-grade copper-gold resources located in its two projects areas in the Bryah Basin and at Gabanintha in the Meekatharra region of Western Australia.
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