Bryah Resources obtains lease
Bryah Resources (ASX:BYH) announced today that a mining lease over the company's Tumblegum South Prospect was granted.
The lease is located within its Gabanintha Project, in the gold-rich Meekatharra region of Western Australia.
The Tumblegum South prospect, has an inferred mineral resource of 600,000 tonnes @ 2.2 g/t Au for 42,500 oz Au.
The company said negotiations are well advanced for a collaboration agreement with a gold plant owner to develop and commence open pit gold production.
“This is a significant milestone on the pathway to near-term gold production at Tumblegum South. We have been successful in progressing the mining lease application and to have it granted in less than 8 months is a credit to all involved and gives us a great chance to capitalise on the robust gold price," said Bryah Resources Managing Director Neil Marston.
“We are well advanced in negotiations with a gold processing plant owner about collaborating on the development of the resource with our joint goal being to be fully permitted to start mining and processing gold sometime in 2021."