Bryah Resources (ASX:BYH) reports it has received $165,000 in Exploration Incentive Scheme (EIS) funding from the Department of Mines, Industry Regulation and Safety (DMIRS) to test for copper-gold mineralisation at the Bryah Basin Copper-Gold Project, Western Australia.
The company will use the funding for a 2,500m reverse circulation (RC) drilling program to test the Aquarius copper-gold trend.
Bryah has also seen a jump in its share price, rising 13.04% to $0.03 as of 9am AWST.
“Receiving further support from the Western Australian Government through the EIS co-funded drilling program is a major benefit for Bryah shareholders”
Bryah CEO Ashley Jones said the company’s geological team have again submitted an ‘excellent’ EIS proposal which reflects their increasing understanding of the Bryah Basin and potential targets.
“Receiving further support from the Western Australian Government through the EIS co-funded drilling program is a major benefit for Bryah shareholders and further validates Bryah’s exploration strategy.
“The grant covers up to 50% of the drilling costs.
“We are excited to keep expanding our targets in the Bryah basin and executing drilling to find the next discovery in the region.”.
Bryah says the VMS systems in the Bryah Basin are known to host ‘high-grade’ copper-gold deposits such as Sandfire’s (ASX:SFR) DeGrussa and Monty mines, and the historical Horseshoe Lights mine located north of Bryah’s prospect.
The company’s geochemical, hyperspectral and structural understanding from previous interpretation of its Windalah Project has refined definition of other targets in the vicinity.
The targets grouped as the Aquarius trend cover the Saturn, Shani, Huygens, Curiosity and Windalah East prospects.
Bryah Resources is a Western Australian battery metals exploration company with assets including the Bryah Basin Copper-Gold Project, the Gabanintha Copper-Nickel-Gold Project, the Bryan Basin Manganese Joint Venture and the Lake Johnston Lithium-Nickel Project.