Significant gold mineralisation from a maiden drilling program at Tumblegum South gold-copper prospect within the Gabanintha project has lifted Bryah Resources’ share price today.
The drilling program – consisting of 26 holes for 2484 metres – returned significant intercepts including 3 metres at 23.8g/t gold and 0.32% copper from 45 metres, 6 metres at
2.95g/t gold and 0.35% copper from 90 metres and 9 metres at 2.34g/t gold from 21 metres.
Shares in Bryah gained 3% on the news to hit an intraday high of 17.5c.
The results reported are based upon three metre composites. Composite intervals over 0.1 g/t Au will be re-analysed to confirm grades and widths of mineralised intervals.
Selected 1 metre samples will be collected from storage and submitted to the laboratory in the coming weeks.
Downhole Electromagnetics (DHEM) survey will be conducted beneath historical workings later this month.
Gabanintha is located approximately 40km south of the town of Meekatharra in Western Australia. The company acquired a suite of mineral rights to tenements covering 202.3km² held by Australian Vanadium Limited.
The mineral rights acquired by the Company are for all minerals, excluding vanadium, titanium, cobalt, chromium, uranium, lithium, tantalum, iron ore and manganese.
Open pit mining by Dominion Mining at Gabanintha between 1987 and 1991 is reported to have produced approximately 150,000oz of gold from six pits mined to a maximum depth of approximately 65 metres.