Bryah shares surge on high-grade discovery

Shares in Bryah Resources were trading as much as 50 per cent higher today after the Perth-based explorer reported recent drill results at its manganese project in Western Australia.

Bryah today announced the first set of results for its recent reverse circulation (RC) drill program at the Bryah Basin project, located approximately 150 kilometres north of Meekatharra.

The drilling results included grades of above 30 per cent manganese, which the company said would support a direct shipping operation.

Bryah managing director Neil Marston said the company was encouraged with the latest results.

“These grades and thickness of mineralisation demonstrate that the manganiferous Horseshoe Range, most of which is under our joint venture’s tenure, has the potential to host significant tonnages of shallow high-grade manganese,” he said in an ASX announcement.

“Manganese ore prices have recovered significantly recently, which augers well for us as we develop a pathway to production.”

The drilling program was funded by OM Holdings under the Bryah Basin joint venture agreement, with West Perth-based Bryah managing the project.

Bryah shares closed up 38 per cent to trade at 5.8 cents per share.