Bryah Resources begins Stage 1 drilling at the Horseshoe South Post OM Holdings Ltd JV

  • May 08, 2019 AEST
  • Team Kalkine
Bryah Resources begins Stage 1 drilling at the Horseshoe South Post OM Holdings Ltd JV

Bryah resources Limited (ASX: BYH), a metal and mineral explorer, announced on 7th May 2019 that the company started the drilling activity at the historic Horseshoe South manganese mine within the Bryah Basin in central Western Australia. The company recently signed a $7.3 million manganese Farm-In and Joint Venture deal with OM Holdings Limited (ASX: OMH) and moved towards the drilling on priority targets at the prospect.

The Joint Venture includes a Stage 1 project expenditure of $500,000 to undertake to drill, and the company commenced it before the deadline of 30th June 2019 and started the drilling of a minimum of 3,000 metres at the prospect.

As per the contract terms, the company remains the manager of the project until OM Holdings earns a 51% interest in the joint venture.

Horseshoe prospect:

The mine historically produced a million tonne of high-grade manganese from 1948 to 1969. Recently, Process Minerals International, a subsidiary of Mineral Resource Limited (ASX: MIN) achieved a saleable production of 400,000 tonnes of manganese ore from 2008 to 2011, through processing historical stockpiles and completing open pit mining operations.

Horseshoe Range, which contains the production dominated Horseshoe South Mine, has been the main producing region for manganese within the Bryah and Padbury Basins. The Horseshoe South Mine is located on the mining lease- M52/806 and the Horseshoe Range also hosts a smaller satellite deposit at the Horseshoe North Mine, which is located on the exploration licence E52/1860.

The first production from both the satellite deposit and Horseshoe South Mine was from 1948-1969 when 490,000 tonnes were mined with an average grade of 42% of manganese.

The sampling and mapping program undertook by the company in the year 2018 over the tenement-M52/806 (mining lease), and the adjacent area revelled substantial manganese potential with rock chip samples. The chip samples were grading to 48.8% of Mn.

Bryah resources completed shallow drilling on the neighbouring tenement towards the south of the Mining Lease M52/806 in the year 2011, which in turn, identified an Indicated Mineral Resource of 437,000 tonnes, with an average grade of 19.6% manganese. As per the company, it is targeting the North side of the Indicated Mineral Resources during Stage 1, and the drill rig is currently on site.

As per the company, other high priority target includes- Brumby Creek and Devils Hill, which will be explored in Stage 1 of the drilling program.

The shares of the company returned a rate of return of -46.67% in the last twelve months, and a return of -18.37% over the tenure of the last six months. However, there is a slight improvement in returns over the last one month, the previous one-month return of the company is at 17.65%.

The share of the company was trading at A$0.080 (as on 8th May 2019, AEST: 12:51 PM), flat as compared to its previous close.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. We are neither licensed nor qualified to provide investment advice through this platform.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK