Bryah has the rights to recover a suite of minerals, including nickel, copper, and gold, and has been examining a co-development with AVL, which is a major shareholder (7.14%), and has the rights to vanadium, titanium, iron, and cobalt within the leases.

 

Bryah has now updated its 2018 resource to 31.3 million tonnes grading 776 parts per million nickel, 210ppm copper and 228ppm cobalt for 23,770t contained nickel, 6556t copper and 7116t cobalt.

 

That includes an indicated resource of 13,451t nickel, 3636t copper, and 4055t cobalt within the high-grade vanadium zone that is within the three planned open pits being pursued by AVL, which is completing a bankable feasibility study.

 

Past work indicated that a significant base metals rich sulphide tailings stream would be generate after the magnetic separation of the vanadium-bearing magnetite concentrate.

 

The test work produced a base metals concentrate with up to 6.3% combined product, including up to 2.02% cobalt, 2.58% nickel and 1.7% copper, with one test returning 23.4 grams per tonne gold.

 

A further round of flotation tests is being planned to better understand the potential grade and economics of producing a sulphide concentrate.

 

Bryah is also waiting on assays from additional drilling for gold and platinum group elements following re-assayed historical core from earlier this year returned a bonanza 1m at 18gpt from 55m within a broader 10m at 27.5gpt from 53m.

 

Prior to 2020, there had been limited sampling for gold in the area.

 

Bryah is examining installing a sulphide recovery circuit at AVL's plant, saying work suggests it could be integrated seamlessly, and would be to be benefit of both companies, with AVL owning the cobalt rights.

 

AVL examined a sulphide circuit in its original 2018 PFS, but it was not integrated in its 2020 process plant design.

 

AVL is pursuing a 25-year development at Gabanintha, which is already covered with a granted mining lease.

 

Shares in Bryah were last traded at 8c, while AVL closed at 1.9c.