Bryah Resources (ASX:BYH) is trading 45.45% higher at $0.016 per share on the Australian Securities Exchange (ASX) as of 4.10pm AEST today (3 June).
It follows a 29 May announcement that in conjunction with its joint venture partner OM (Manganese) flora survey has atarted on the manganese mining licences in the Bryah Basin.
OMM is a wholly owned subsidiary of OM Holdings (ASX:OMH), one of the world’s leading suppliers of manganese ores.
Chair Ian Stuart says as demand for manganese begins to rise and the price strengthens, it is opportune that the JV is progressing through the approvals required to bring the project into production.
The Bryah Basin project area is located 100km north of the town of Meekatharra in Western Australia. The company’s tenements and manganese mineral rights cover 1,135km² over parts of the western Bryah Basin.
The manganese JV tenement package, which covers approximately 600km2 and relates to the manganese rights only, with prospects and an existing manganese mineral resource of 3.06 million tonnnes at 20.1% Mn.
OMM completed a $1.8 million earn-in as part of the JV farm-in agreement and now owns 60% of the project. The study will be funded by OMM.
Write to Adam Orlando at Mining.com.au
Images: Bryah
