Canyon Resources Confirms Minim Martap as Tier-1 Project

THE DRILL SERGEANT: Canyon Resources (ASX: CAY) reported positive initial assays from an aircore drilling campaign on the company’s Minim Martap bauxite project in Cameroon.

Canyon Resources said the results have demonstrated the project’s thick, high-grade, low contaminant bauxite from surface.

The current drilling program aims to increase the scale, grade and categorisation of the existing project resource of 550 million tonnes at 45.5 per cent total aluminium oxide (Al2O3) and total 2.06 per cent silicon dioxide (SiO2) and then test new and previously untested bauxite plateaux to add additional high-grade tonnage.

Canyon has received results from the first batch of assays that it claims demonstrate very high-grade bauxite, at greater than 50 per cent Al2O3 and less than 2.5 per cent total SiO2, including hole BE-19-0040 which averages 14 metres at 56.47 per cent Al2O3 and 1.72 per cent SiO2, including 5m at 62.06 per cent Al2O3 and 0.66 per cent SiO2.

The company believes that its aircore rig has been far more effective at penetrating the bauxite plateaux than auger drilling rigs used previously.

“The first batch of assay results have validated the company’s view that the Minim Martap project is a very high-grade low contaminant bauxite deposit,” Canyon Resources managing director Phillip Gallagher said in the company’s announcement to the Australian Securities Exchange.

“It’s exciting that the drilling rig has consistently drilled holes substantially deeper than the depth of resources previously reported on the bauxite plateaux and with higher grades.

“We are confident that we will be able to increase the scale and grade of the existing resource and will soon commence work on the untouched large southern bauxite plateaux on the Minim Martap and Makan permits that were identified by our recent LiDAR survey, which identified 70 new target bauxite plauteaux.”