Thomas Bahen has become a substantial holder in Burley Minerals (ASX:BUR) after taking a 6.46% stake in the junior iron ore and lithium explorer.
Bahen, who is related to Burley’s non-Executive Chairman Daniel Bahen, now owns 8.4 million shares in Burley after buying a further 4 million shares for $200,000 in April.
A former director of Canaccord Genuity and Patersons Securities, Bahen is experienced in capital raisings, corporate advisory and commercial transactions for listed and unlisted companies.
Bahen is a former director of Wildcat Resources (ASX:WC8), which he helped recapitalise, and has served on the boards of Carbine Resources (ASX:CRB) and Naracoota Resources.
Burley is on site at its Cane Bore Iron Project in the Pilbara region of Western Australia completing further mapping and rock-chip sampling.
The company is aiming to start maiden drilling soon and is currently pursuing heritage survey proposals while it awaits approval on the program of work application from the Department of Energy, Mines, Industry Regulation and Safety.
Burley says early reconnaissance work indicates that the remnant channel iron deposit areas average 400m wide and sit up to 20m above the surrounding surface, over more than 30km of strike.
Cane Bore is located less than 100km by sealed road from Onslow and the Port of Ashburton.
The 222km2 project sits adjacent to Mineral Resources’ (ASX:MIN) 394-million-tonne Ken’s Bore Project and the Australian Premium Iron Joint Venture’s 433-million-tonne West Pilbara Iron Ore Project.
The Cane River area was historically explored for iron resources in the late 1960s, but only wide-spaced sampling of surface materials was reported.
Write to Angela East at Mining.com.au
Images: Tom Bahen & Burley Minerals
