Canyon Resources Drills High-Grade Results from New Southern Bauxite Plateau

THE DRILL SERGEANT: Canyon Resources (ASX: CAY) reported high-grade results from an initial exploration drilling program conducted on the Sophia Plateau on the Makan Licence, at the company’s Minim Martap bauxite project in Cameroon.

Canyon Resources said intervals of over 50 per cent aluminium oxide (Al2O3) were identified in 23 of the initial 27- hole program completed in July 2019.

The company explained the results delineate high-grade, low contaminant bauxite from surface in a new exploration area.

Drilling intersections include:

12 metres at 50.1 per cent Al2O3 and 1.1 per cent silicon dioxide (SiO2) (total) from surface;

7m at 50.1 per cent Al2O3 and 1.9 per cent SiO2 (total) from surface;

7m at 50.4 per cent Al2O3 and 1 per cent SiO2 (total) from surface;

7m at 51 per cent Al2O3 and 1.1 per cent SiO2 (total) from surface;

8m at 51.3 per cent Al2O3 and 1.1 per cent SiO2 (total) from 1m;

11m at 50.9 per cent Al2O3 and 0.9 per cent SiO2 (total) from 2m;

8m at 51.2 per cent Al2O3 and 1.1 per cent SiO2 (total) from surface; and

5m at 53.7 per cent Al2O3 and 1.1 per cent SiO2 (total) from surface.

Canyon said the drilling results from Makan outline the potential for further high-grade bauxite plateaux in addition to those already identified within the project area.

None of the plateaux within the Makan tenement have been drilled or included in bauxite resource estimates previously.

The Makan permit includes the second largest bauxite plateau at the project which presents a priority target for future drilling.

“The drilling results from the previously untested Makan licence are very pleasing and confirm Canyon’s regional geological model for extensive and new high-grade bauxite resource potential,” Canyon Resources chief geologist Dr Alexander Shaw said in the company’s announcement to the Australian Securities Exchange.

“These results further confirm the global Tier 1 status of the project.”

The company is progressing a Pre-Feasibility Study (PFS) for the Minim Martap bauxite project.

Throughout the next 12 months, targeted resource drilling will be completed to support delivery of the PFS.

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au