Energy metals explorer Bryah Resources (ASX:BYH) has purchased the Lake Johnston Lithium-Nickel Project in Western Australia in a deal that will see it pick up a 690km² footprint in a well-known lithium-prospective district.
The project, which consists of eight exploration license applications, reaches to within 10km of the Wesfarmers/SQM Mount Holland Lithium JV, home to one of the world’s largest hard-rock lithium deposits.
Of the eight licenses, three are owned by West Coast Minerals Pty Ltd, which Bryah has agreed to purchase for $75,000 cash + 2,000,000 ordinary shares @ $0.053 each. The remaining five licenses have recently been applied for directly by Bryah.
“The tenements Bryah will be exploring shortly are within a region which has been proven to be highly prospective for lithium as well as nickel and copper”
Addressing news of the acquisition, Bryah Resources Managing Director Neil Marston said: “Bryah is delighted to add prospective lithium tenements to its portfolio which already includes a copper-nickel resource at Gabanintha and an evolving manganese project in the Bryah Basin. This acquisition broadens our exploration reach. The tenements Bryah will be exploring shortly are within a region which has been proven to be highly prospective for lithium as well as nickel and copper – all vital commodities in the EV/energy storage revolution.”
The company notes that the acquisition includes landholdings adjacent to Poseidon Nickel’s (ASX:POS) Lake Johnston Project, which has accounted for historical nickel output of 46,000 tonnes @ an average grade of 4.1% Ni.
Upon confirmation of tenement grants, Bryah is set to commence work on target generation via review of historical data along with acquisition and review of publicly-available datasets including aeromagnetics, radiometrics, satellite imagery, gravity surveys and electromagnetic surveys.