Bayan Mining Stakes 158 Nevada Claims, Shifts Focus from Canadian Lithium

Expanding the Nevada Footprint

Bayan Mining and Minerals Limited (ASX: BMM) has made a significant leap in its exploration strategy by filing staking applications for 158 claims covering approximately 13 square kilometers in Nevada, USA. This new land package is strategically split between two project areas: 116 claims adjacent to Sun Silver Ltd's Maverick Springs Project, which boasts a substantial inferred JORC silver resource, and 42 claims near Kinross Gold Corporation's Bald Mountain mine, a prolific gold operation.

The newly designated Bayan Springs North and South Projects benefit from proximity to established mineral resources and lie within the geologically rich Carlin Trend, a renowned gold and silver belt. The company’s recent desktop study, conducted by Dahrouge Geological Consulting USA Ltd, has identified 14 target areas with promising geological features conducive to silver, antimony, and gold mineralisation. This study leverages historical data and modern interpretive techniques, setting the stage for upcoming field mapping and sampling programs.

Advancing Canadian Lithium and Rare Earths Exploration

In Canada, Bayan has initiated exploration activities across its Ontario properties, including Barbara Lake, Tango, and Georgia Lake, focusing on geological mapping and rock chip sampling to delineate favourable host rocks. Desktop studies on the Corvette North and Arrel Lithium projects have pinpointed key exploration targets for lithium, rare earth elements (REEs), and base metals. Notably, the Arrel project shows potential for polymetallic sulphide mineralisation with indicators of uranium-enriched and magnetite-altered mafic rocks.

However, in a strategic pivot, Bayan has withdrawn from its option to acquire the Tango Lithium Project. This decision reflects a sharpened focus on assets with stronger expected returns, particularly the newly acquired gold package in southern Brazil and the Nevada silver and gold projects.

Leadership and Corporate Developments

Complementing its exploration advances, Bayan appointed Ian O'Grady as a Non-Executive Director. With over 40 years of experience in base and precious metals exploration, including senior roles at Sandfire Resources and St Barbara Mining, O'Grady brings valuable expertise to guide Bayan’s exploration programs. The company also confirmed its name change from Balkan Mining and Minerals Limited to Bayan Mining and Minerals Limited, maintaining its ASX code BMM.

Financially, Bayan reported $273,000 in exploration expenditure during the quarter, with a cash balance of $141,000 at quarter-end. The company acknowledges the need for further capital raising to sustain operations but remains confident in its ability to secure funding.

Looking Ahead

Bayan’s strategic land acquisitions in Nevada, combined with focused exploration in Canada and Brazil, position the company to capitalize on high-potential mineral assets. The upcoming fieldwork in Nevada and ongoing evaluation of Canadian lithium targets will be critical in validating the promising desktop study results. Meanwhile, the withdrawal from the Tango project signals a disciplined approach to portfolio management, prioritizing projects with clearer pathways to value creation.