Bryah Resources has revealed optimism for its multi-commodity approach after announcing high-grade findings at the Gabanintha project in Western Australia this month.
The company’s positivity follows a drilling program that produced samples of gold exceeding 30 grams/tonne, validating a 2017 program at the Tumblegum South gold prospect.
Bryah’s drill testing of a first target west of the main area also returned one metre at 13.4 grams/tonne of gold, highlighting the potential of an additional prospect.
As Bryah prepares a maiden mineral resource estimate for Tumblegum South, managing director Neil Marston credits the contribution that joint venture partner, OM Holdings (OMH), has made to Gabanintha’s progress.
“The joint venture with OMH is really a significant strategy for us,” Marston tells Australian Mining. “Although their ongoing demand is for manganese, it leaves Bryah able to spend our own money looking for other minerals such as copper-gold.”
With the project less than 60 kilometres from high-grade copper mines such as Sandfire Resources’ Degrussa mine, Bryah’s primary focus is finding larger copper-gold deposits.
“With new exploration licenses in the last couple of months, we’ve now got over 1000 square kilometres of ground that has interesting exploration results that haven’t been followed up since the 1980s,” Marston continues.
Bryah’s track record of exploration transactions has been supported by OMH forming the joint venture with the Perth-based junior.
“The JV with OMH came out of taking the opportunity to evaluate something which we didn’t think had much value initially,” Marston says.
“We’ve certainly found that there has been a real opportunity for us to advance the manganese production story into a positive cash flow business.”
A positive cash flow position at Bryah also stems from acquiring opportunities in secure commodities from an investor perspective, such as gold.
“I think with the global financial post-GFC condition, we are still seeing a lot of people feeling uncomfortable with money sitting in a bank account,” Marston says.
“There seems to be an appetite amongst investors to hold physical gold, as holding gold is more secure than holding something like cryptocurrency.”
Marston says Bryah has copper’s encouraging future in mind, with demand for the base metal as an ingredient for renewable energy projects and electric vehicles forecast to surge in the coming years.
Bryah plans to drill deeper at its projects by using hi-tech methodologies such as geophysics, gravity surveys, artificial intelligence (AI) and remote sensor-type methodologies.
“As demand increases, we can use the latest technology and high-resolution air photography to reassess the area. It saves us time and helps us identify the right high-priority spots,” Marston says.
With shareholders seeing the ability of Bryah to work on two fronts, enabled by the efficiency of smart technologies, the company’s future is potentially golden.
“I don’t think there’s any shortage of new discoveries to be found. I’m very optimistic about the future from the commodities and mining industry perspective,” Marston says.
Bryah’s mineral resource estimate for Tumblegum South is scheduled for release by Christmas.