Bryah Resources Ltd has advised of its successful application in Round 24 of the Western Australian Government’s Exploration Incentive Scheme (EIS).
As a result, the company will receive grant funding of up to AUS$130 000 from the Department of Mines, Industry, Regulation, and Safety (DMIRS) as a contribution towards direct drilling costs at the Olympus Anomaly – located within the company’s Bryah Basin Project, which is located in central Western Australia.
The Olympus Anomaly is a strike-extensive multi-element geochemical anomaly confirmed by infill auger soil sampling in 2021. It has similar pathfinder mineral characteristics to the significant geochemical anomaly over the nearby Windalah copper-gold prospect. Recent diamond drilling at Windalah has confirmed the presence of a Volcanogenic Massive Sulphide (VMS) system with copper-gold potential, which is analogous to the Horseshoe Lights copper-gold deposit.
The Olympus Anomaly is approximately 10 km south of the Horseshoe Lights copper-gold deposit and lies within the Aquarius Trend, a series of double-plunging domes with Narracoota Formation volcanic rocks at the core, flanked by Ravelstone Formation sedimentary rocks. It is understood that these domes connect with the Narracoota Formation rocks that host the Horseshoe Lights copper-gold deposit through an extensive dome and basin architecture.
The company plans to drill approximately 10 Reverse Circulation (RC) drill holes for a total of 3000 m to test the Olympus Anomaly to a depth of 300 m.
Under the company’s agreement with DMIRS, the drilling program must be undertaken between 1 December 2021 and 30 November 2022. The company is grateful for the industry support provided under the EIS Scheme and looks forward to completing this drilling program in the coming months.
Read the article online at: https://www.globalminingreview.com/mining/10112021/bryah-resources-secures-eis-drilling-grant/