Barys Resources Ltd (ASX: BRY) is an ASX listed mineral exploration company focused on increasing shareholder wealth through the acquisition, exploration and development of mineral resource projects in Africa and Central Asia. The company holds various prospecting licences for uranium, copper-silver, and now gold. Barys has announced a significant development with the grant of its first gold exploration licence in Kazakhstan, marking a new strategic focus. This initial tenement, designated 4238-EL, covers an area of 165 square kilometres in the North Balkhash region, following a six-month large-scale gold reconnaissance programme in the country.
The newly acquired tenement is considered highly prospective, encompassing volcanic rocks, intrusive rocks, and major structures deemed favourable for epithermal gold mineralisation. The North Balkhash region itself is renowned for hosting high-level epithermal gold deposits, with several operating gold mines located within 50 kilometres of Barys’s new tenure. This geological setting underscores the potential for future discoveries within the licensed area, aligning with the company’s objective to expand its mineral resource portfolio.
Kazakhstan, a resource-rich nation with a long history of gold and copper mining, actively encourages foreign investment, with its mining code modelled on Western Australian legislation. Barys noted that despite significant gold potential, many regions have seen limited modern-day exploration since the collapse of the Soviet Union in 1991. The company plans to leverage a vast historical geological database, combined with modern geological modelling and geophysical advancements, to guide its exploration efforts. Barys Managing Director Paul Ingram commented that Kazakhstan offers “some of the best geology” and an environment where “our exploration dollar go much further.”
