Addition of 2 Tenements Leads to Spike in Bryah Resources Shares

KEY TAKEAWAYS:

• Bryah Resources Ltd has acquired two strategically located tenements for prospective gold and copper.
• The acquisition has resulted in an appreciation in the shares of the company.
• Bryah Resources is set to conduct a geophysical survey of the said project areas.

The acquisition of two strategic tenements within the Bryah Basin in Western Australia has led to an increase in the shares of Bryah Resources Ltd (ASX: BYH). The newly-acquired tenements, which were previously held by private prospectors who were exploring gold nuggets in the area, are  Prospecting Licence P52/1527 and Exploration Licence E52/3014.

These tenements are prospective sources of copper and gold for the company. They also fill some of the gaps in the company’s Saturn Prospect and Mars Prospect.

The Bryan Basin already boasts of two copper-gold volcanologic massive discoveries namely the Horseshoe Lights and Sandfire’s DeGrussa mine. Both mines have the Narracoota Formation geology, the same geology found in parts of the tenements of Bryah.

Bryah Resources Limited is a mineral exploration company that was established for the discovery of copper-gold resources in its two project areas located in Gabanintha in Bryah Basin.

The two tenements have an acquisition cost of $10,000 each. It also entailed the issuance of 50,000 new shares of Bryah Resources at $9,250.

With this, Bryah now has full coverage of the Narracoota Formation both at the Mars Prospect and the Saturn Prospect. The company is set to conduct an even deeper evaluation of the said project areas.

Bryah Resources previously raised $5 million through its initial public offering (IPO). Among its investors are Ausralian Vanadium Ltd. and former Sandfire Resources Director John Hutton.

The company has already tasked UTS Geophysics Pty Ltd to conduct a geophysical survey to identify potentially VMS conductors in its Bryah Basin Project. The survey will be conducted using the company’s Versatile Time-Domain Electromagnetic (VTEMTM Max) system, a proven and tested tool used in the discovery of large-scale metal deposits.

About Bryah Resources Ltd (ASX: BYH)

Bryah Resources Limited is an exploration company established by a well-qualified management team with the primary purpose of exploring for copper-gold resources in the highly prospective Bryah Basin in Western Australia. The Company is seeking to raise $5 – 6 million through an Initial Public Offering ahead of listing the company on the ASX. Applications can be made online via the prospectus on the Company’s website.

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