05/11/2021 - 10:54

Bryah enters lithium field

05/11/2021 - 10:54

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Bryah Resources is acquiring the Lake Johnston lithium-nickel project near Kalgoorlie in a self-proclaimed pivot to becoming an energy metals-focused company.

Bryah enters lithium field
Bryah Resources managing director Neil Marston. Photo: Business News

Bryah Resources is acquiring the Lake Johnston lithium-nickel project near Kalgoorlie in a self-proclaimed pivot to becoming an energy metals-focused company.

The gold and copper miner’s new project will consist of eight exploration licences across 690 square kilometres, situated 200km south of Kalgoorlie.

Bryah recently applied for five of these licences, with the remaining three set to be acquired from West Coast Minerals for $181,000 in cash and shares.

Consideration will be split $75,000 in cash and $2 million in company shares at 0.053 cents per share for the West Coast tenements, which the company says will broaden its exploration reach in an area claimed to be “highly prospective” for lithium, copper and nickel.

The company noted its new exploration grounds extended to within 10km east of the in-development Mount Holland Lithium mine under the Wesfarmers and SQM Australia joint venture.

Bryah managing director Neil Marston said recent exploration work at the Lake Johnston site had been limited, but claimed the regional had potential.

“Bryah is delighted to add prospective lithium tenements to its portfolio, which already includes a copper-nickel resource at Gabanintha and an evolving manganese project in the Bryah Basin,” Mr Marston said.

Subject to the grant of tenements, exploration and desk top studies are set to commence in 2022.

“The tenements Bryah will be exploring shortly are within a region that has been proven to be highly prospective for lithium as well as nickel and copper, all vital commodities in the electric vehicle and energy storage revolution,” Mr Marston said.

The move follows the recent ASX listing of Star Minerals, which counts former Bryah asset Tumblegum South as its flagship gold project.

Bryah shares are up 10.91 per cent at 1:29pm to trade at 0.061 cents.

Star Minerals shares are trading flat at 20 cents.

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