Bryah Resources (ASX: BYH) has kicked up rock chips with gradings of more than 50% manganese at its Black Hill prospect and Mudderwearie mine, part of the Bryah Basin project, in central Western Australia.
The laboratory assays for the 718 square kilometre Bryah Basin project returned 52.12% manganese with 4.59% iron oxide from in situ rock at Black Hill and 50.88% manganese with 6.34% iron from screen material at the historic Mudderwearie mine site.
Another rock chip at the mine site returned 47.68% manganese with 7.34% iron from in situ rock at the Mudderwearie pit.
The results were a highlight for the A$5.635 million company, which saw its stock lift 30% on today’s news.
Bryah Resources managing director Neil Marston told Small Caps the market was recognising the value in the company’s prospects and potential.
“Bryah’s share price rallied today because the market is recognising our excellent manganese prospects – and the potential to be mining high-grade manganese in the Bryah Basin,” he said.
Mr Marston told Small Caps there would be more good news for investors as the company built its manganese expertise and brought on board manganese geologist specialists, Brian Davis and Iain Ross.
Bryah plans to drill-test Black Hill and Mudderwearie once it receives site clearances.
Another five rock chips are due back for the manganese-capped mesa prospect of Black Hill in the next fortnight.
Additionally, six other manganese targets across the project will be reviewed with ground reconnaissance and geological mapping planned in the upcoming months.
The company is also awaiting the final results of a VTEM-Max Electromagnetic geophysical survey over northern and southern anomalous areas at Mudderwearie, which is west of the historic Ravelstone manganese mine. Results from the survey are anticipated by the end of this month.
During its operation, Ravelstone produced 76,237 tonnes at 48.45% manganese for 36,938t of contained metal between 1956 and 1964.
According to Bryah, the region is known for hosting numerous other historic manganese mines which produced manganese with grades in excess of 40%.
With its primary market the steel sector, manganese is largely influenced by fluctuations in this industry.
Although analyst Roskill predicts the manganese market may slip into oversupply in the near-term, the analyst concedes the lithium-ion battery sector could have an impact due to the commodity’s use in the battery’s cathode.
Bryah securities finished the day up 30% to A$0.13.