Option Exercised to Acquire High-Grade Canadian Gold Project
ASX ANNOUNCEMENT
11 JULY 2025
Option Exercised to Acquire High-Grade
Canadian Gold Project
HIGHLIGHTS
•
Option exercised to acquire high-grade gold project in New Brunswick, Canada
Bryah Resources Limited (“Bryah” or “the Company”) is pleased to advise that it has exercised its
option with Globex Mining Enterprises Inc. (GMX-TSX, GLBXF-OTCQX, G1MN-FSE; “Globex”) to
acquire 100% of the Golden Pike high-grade gold and antimony project in New Brunswick, Canada.1
A comprehensive due diligence process was completed which considered technical, legal and
commercial aspects of the project. The Bryah Board concluded that the project presents a compelling
development opportunity that has potential to deliver significant value to the Company.
The Golden Pike Gold Project has a NI 43-101 Foreign Resource Estimate (table below)1 and 2 modelled
from a cut-off grade of 5 g/t Au and minimum width of 2.0m:
Classification
Zone
Tonnes (‘000)
Au (g/t)
Oz (‘000)
Inferred
Main Zone
78.2
11.47
28.8
Inferred
Parallel Zone
136.6
8.54
37.5
Inferred
Total
214.8
9.60
66.3
*Cautionary Statement: The estimates of the quantity and grade of mineralisation for the Golden Pike
Project referred to in this announcement are “foreign estimates” within the meaning of the ASX listing
rules and are not reported in accordance with the JORC Code 2012. A competent person has not
undertaken sufficient work to classify the foreign estimates as mineral resources in accordance with
the JORC Code 2012. It is uncertain that following evaluation and further exploration work that the
foreign estimates will be able to be reported as mineral resources in accordance with the JORC Code.
Bryah Resources’ CEO, Greg Hill comments, “After completing a robust due diligence process on the
Golden Pike project I am confident that the project will bring a step change in value to Bryah
shareholders. The strength of gold and antimony prices continues to support quality projects. We are
excited to explore the additional opportunities that the project presents to Bryah.”
1
2
ASX announcement 21 May 2025 ‘Acquisition of Advanced High-Grade Gold Project’
Notes from 2011 NI 43-101 Technical Report, Roscoe Postle Associates Inc., 19 August 2011:
1. Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definitions have been followed for classification of Mineral
Resources.
2. The Qualified Person for this Mineral Resource estimate is Tudorel Ciuculescu, P.Geo.
3. Mineral Resources are estimated at a cut-off grade of 5 g/t Au and a minimum thickness of two metres.
4. Mineral Resources are estimated using an average long-term price of US$1,200 per oz Au, and a C$:US$ exchange rate of 1:1.
5. The Mineral Resource estimate uses drill hole data available as of May 26, 2011.
6. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
7. Totals may not add correctly due to rounding.
ASX: BYH | bryah.au
1
Figure 1 - Mineral Claim Group 7616 in New Brunswick, Canada
ASX: BYH | bryah.au
2
On execution of a formal contract Globex will receive $280,000 Canadian as a combination of cash
and Bryah fully paid ordinary shares (“Shares”), to be determined at Bryah’s election, the Shares to
be issued under the Company’s ASX listing rule 7.1 capacity. The Shares will be issued based on the
5 day VWAP prior to the date of issue and the CAD:AUD exchange rate at the date of issue. The formal
sale contract is expected to be executed within the next 7 days.
For further information, please contact:
Greg Hill, CEO
+61 8 9321 0001
This announcement has been produced in accordance with the Company's published continuous
disclosure policy and has been approved by the Board.
ASX: BYH | bryah.au
3
ABOUT BRYAH RESOURCES
Bryah’s current assets are located in Western Australia, a Tier One global mining and exploration
jurisdiction. Strategically the Projects are energy metals focused, or able to exploit synergies of
geological knowledge, locality and exploration.
The Lake Johnston tenements are prospective for battery metals lithium and nickel. The corridor near
Lake Johnston contains significant mines and discoveries of nickel and lithium, including the historical
Maggie Hays/Emily Ann nickel deposits and the TG Metals Burmeister Project and Charger Metals’
Medcalf Prospect.
The prospective Bryah Basin licences cover 1,048km2 and have a potential new Volcanogenic Massive
Sulphide (VMS) ‘Horseshoe Lights type’ mine analogue with multiple other untested targets. The area
also contains extensive outcroppings of manganese, the subject of a substantial $7M joint venture
with ASX listed OM Holdings Limited (ASX: OMH). OMH is a vertically integrated manganese producer
and refiner with a market capitalisation of ~$300m. Bryah and OMH have an excellent working
relationship, with OMH having already spent over $4.5 million to earn-in to the Manganese Rights of
the Project.
Gabanintha, near Meekatharra, has a JORC 2012 Mineral Resource for Cu, Ni, Co and additional
structural gold potential. The copper nickel resource and identified gold mineralisation at Gabanintha
will be the subject of further drill definition and a prefeasibility study to integrate the project with the
Australian Vanadium Project (ASX: AVL). The resource has been defined by the drilling efforts of AVL
in the development of its vanadium project and enabled Bryah to define a base metal resources
inventory. Bryah is in discussions to sell its nickel and other metal rights over the Australian Vanadium
Project for non-dilutive cash. Australian Vanadium Limited has first right of refusal to purchase the
rights.
Bryah holds 5.92% of gold focused Star Minerals (ASX:SMS). Star Minerals has a Mineral Resource at
Tumblegum South Gold Project and exploration prospects in the West Bryah Basin.
Bryah has exercised its option to acquire the Golden Pike high-grade gold project in New Brunswick,
Canada.
ASX: BYH | bryah.au
4
FOREIGN ESTIMATE STATEMENTS
The Foreign Estimate of the deposit for the Golden Pike Gold Project referred to in this announcement
was completed in 2011 for Portage Minerals Inc. The estimate was prepared in accordance with
Canadian NI 43-101 but has been treated as a foreign estimate as a competent person has not
undertaken sufficient work to classify the estimates in accordance with the JORC Code 2012 and the
ASX listing rules and has not signed off on the estimate as a JORC Code mineral resource. It is
uncertain whether following evaluation and further exploration work that the historical estimates will
be able to be reported as mineral resources in accordance with the JORC Code.
The information in this announcement that relates to the Foreign Estimate in respect of the Mineral
Claim is based on information compiled by Mr Ashley Jones, who is a member of the Australasian
Institute of Mining and Metallurgy (AusIMM) and qualifies as a ‘Competent Person’. Mr Jones is a
director of Bryah Resources Limited. Mr Jones confirms that the information contained in this
announcement about the Foreign Estimate is an accurate representation of the available data and
studies for the Mineral Claim.
FORWARD LOOKING STATEMENTS
This announcement may contain certain “forward-looking statements” which may not have been
based solely on historical facts, but rather may be based on the Company’s current expectations
about future events and results. Where the Company expresses or implies an expectation or belief as
to future events or results, such expectation or belief is expressed in good faith and believed to have
a reasonable basis. However, forward looking statements are subject to risks, uncertainties,
assumptions and other factors which could cause actual results to differ materially from future results
expressed, projected or implied by such forward-looking statements. Readers should not place undue
reliance on forward looking information. The Company does not undertake any obligation to release
publicly any revisions to any “forward looking statement” to reflect events or circumstances after the
date of this report, or to reflect the occurrence of unanticipated events, except as may be required
under applicable securities laws.
ASX: BYH | bryah.au
5
Share your feedback
Discover