Canyon Resources Identifies 70 New Bauxite Targets

THE DRILL SERGEANT: Canyon Resources (ASX: CAY) completed a LiDAR (light imaging, detection and ranging) and high resolution ortho-photographic survey over the company’s Minim Martap project area in Cameroon.

Canyon Resources said the survey had identified more than 70 additional bauxite plateaux across its three permits.

Canyon processed data from the LiDAR survey into a highly accurate and detailed digital elevation model (DEM), which identified the exact size, location and elevation of more than 70 additional plateaux on the Minim Martap, Makan and Ngaoundal permits, which are not already included in the existing Mineral Resource Estimate for the project.

The company explained the newly identified plateaux represent 65 per cent of all the plateaux surface area identified at the target elevation on the three Minim Martap project permits.

To date, plateaux investigated at this elevation have consistently contained 7 metres to 15m thick, high-grade, low contaminant bauxite.

The 70 new plateaux represent an additional area of 65.4 square kilometres compared with the current resource area which is identified across 35.6sqkm.

“This LiDAR survey is the first time a detailed survey of all the bauxite plateau on the Minim Martap project has ever been completed,” Canyon Resources managing director Phillip Gallagher said in the company’s announcement to the Australian Securities Exchange.

“It is pleasing to see that the untested bauxite plateaux that can be seen into the distance when visiting the project, are all at a similar elevation as the identified high-grade bauxite plateaux.

“Our past experience from the Birsok project confirmed that the elevation of a bauxite plateau in that region is a key driver of the grade, level of contaminants and width of the bauxite on the plateau.

“The Minim Martap project has the potential to be one of the largest and highest grade bauxite deposits globally and it is located alongside operating and accessible rail infrastructure.”

The Minim Martap project has a JORC Code 2012-compliant resource of 550 million tonnes at an average grade of 45.5 per cent total aluminium oxide (Al2O3) and total 2.06 per cent silicon dioxide (SiO2).

In March 2019, Canyon announced a very high-grade resource of 250.9 million tonnes at 50.8 per cent Al2O3 (total) and 1.9 per cent SiO2 (total) as part of this resource, which it claimed validated its theory the project is one of the highest grade, very low silica bauxite resources globally.

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au