Fed tests gold upleg
Gold’s outlook and fundamentals remain really bullish.
Bryah Resources (ASX:BYH) has increased its landholding at its flagship Bryah Basin project in Western Australia.
In a press release, the miner said that the newly acquired tenements are located on the western side of the Padbury and Bryah Basins.
To the south of the new tenements lies the Wilthorpe mine, which produced 4,650 ounces of gold between 1993 and 1994
“Approximately 255 square kilometres of highly prospective ground has been secured by the recent grant of two new exploration licences and the application for a further three exploration licences,” the media brief reads. “The two newly granted tenements cover a total of 83 kilometres and the applications cover a further 172 kilometres.”
According to Bryah, the tenements cover more than 50 square kilometres of the highly prospective Narracoota Formation, including over 40-line kilometres of the prospective strike contact between the Narracoota Formation and the Proterozoic metasediments of the Padbury Basin.
The package also covers under-explored ground south of the historic Labouchere and Nathans gold mines which were exploited by Dominion Mining between 1989 and 1992.
Mineralisation in the area mainly comprises orogenic lode-gold and volcanogenic massive sulphide copper-gold deposits. To date, the majority of exploited gold mineralisation occurs in structurally controlled, mesothermal, epigenetic lode systems.
“The Bryah and Padbury Basins remain largely under-explored, with historical exploration activities focused on identifying shallow gold mineral resources suitable for open-pit operations,” Bryah’s managing director, Neil Marston, said in the media release. “We believe that these newly acquired areas could yield some early exploration success.”
