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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

 

Canyon Resources Working with Cameroon Government on New Train Line

THE BOURSE WHISPERER: Canyon Resources (ASX: CAY) reported that the Government of Cameroon has completed a rail study involving a link between the company’s Minim Martap bauxite project to the Kribi Deep Water Port.

Canyon Resources said an independent Feasibility Study for the construction of a rail line from Edea to Kribi Port, was completed for the Government of Cameroon by Studi International.

The Feasibility Study focused on a long-term solution for Cameroon’s rail infrastructure linking different parts of the country to the existing rail and ports.

Canyon has engaged with Studi International to gain an insight into the study and the technical aspects of the proposed rail upgrade and development process.

Canyon and Mota-Engil Africa will work together to apply the outcomes of this study to the requirements for Minim Martap.

The Cameroon government has called for tenders to manage the railway infrastructure and develop models for possible Public-Private Partnership financing and operation of the rail line.

Canyon Resources said the tender aims to finalise the financial model for operating the existing Camrail upgraded rail line as well as an extension to the Kribi Port and other potential rail infrastructure.

Canyon Resources managing director Phillip Gallagher said in the company’s announcement to the Australian Securities Exchange.

“It’s pleasing to see the Cameroon Government progressing its rail network to a level that will potentially provide the infrastructure required for Canyon to transport bauxite product from our globally significant project at Minim Martap to the Kribi Port.

“We will continue to work with the Cameroon government and Camrail to ensure the best possible outcome for the rail network, as it is an important piece in unlocking the potential of our Tier 1 bauxite resource at Minim Martap.”

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au

 

Canyon Resources Scores Additional High-Grades at Minim Martap Bauxite Project

THE DRILL SERGEANT: Canyon Resources (ASX: CAY) reported further positive results from an ongoing air core drilling campaign on the Beatrice Plateau at the company’s Minim Martap bauxite project in Cameroon.

Canyon Resources claimed the results demonstrate the project’s thick, high-grade, low contaminant bauxite from surface.

The company’s recent air core drilling completed on the Beatrice plateau recorded substantial high-grade mineralised holes which are much deeper than the current resource, sometimes up to twice the depth.

The Beatrice plateau has previously reported an inferred (JORC 2012) resource of 38.5 million tonnes at 50.76 per cent aluminium oxide (Al2O3) and 2.69 per cent silicon dioxide (SiO2).

The company said the assay results received from the current drill program have generally achieved higher grades, lower silica and deeper mineralised profiles than this previous resource.

Drilling intersections include:

6m at 58.19 per cent Al2O3 and 0.92 per cent SiO2 (total) from surface;

9m at 55.95 per cent Al2O3 and 2.76 per cent SiO2 (total) from surface;

9m at 54.81 per cent Al2O3 and 1.87 per cent SiO2 (total) from surface; and

10m at 54.57 per cent Al2O3 and 3.33 per cent SiO2 (total) from surface.

“The remainder of the assays from the 250 metres by 250 metres grid drilled on the Beatrice plateau have continued the very high-grade assay results and broad bauxite intersections that were recorded in the first batch of assay results,” Canyon Resources chief geologist Alexander Shaw said in the company’s announcement to the Australian Securities Exchange.

“We are also seeing significant increases in the depths of the mineralisation.

“Our drilling has increased the depth of the mineralisation to an average of 12 metres and a maximum of 17 metres.

“In some cases, this is double the previous results.”

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au

 

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.”

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au

 

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

 

Canyon Resources Completes Bauxite Rail Assessment

THE BOURSE WHISPERER: Canyon Resources (ASX: CAY) has had an independent assessment carried out of the existing Camrail rail network located adjacent to the company’s Minim Martap bauxite project in Cameroon.

The assessment was completed by Canyon Resource’s infrastructure partner Mota Engil Africa, which has concluded that the existing rail has the capacity to transport commercial tonnages of bauxite.

A further assessment also carried out on the proposed route and ground conditions for the proposed rail extension to the Kribi Deep Water Port.

Canyon said the existing rail line is under-utilised at current usage levels and the company has has formed a working committee with Cameroon rail operators to identify a solution for Canyon to access the existing rail line.

As part of this, Canyon will present a solution including design, construction and operation of the Kribi rail link to the Cameroon Government.

“A logistics solution is a crucial component of the Minim Martap bauxite project and we are pleased with the very positive feedback from this assessment of the existing rail infrastructure, in particular, that ongoing maintenance and upgrade works are underway,” Canyon Resources managing director Phillip Gallagher said in the company’s announcement to the Australian Securities Exchange.

“The study confirmed our belief that the existing rail line is in good condition and has the capacity to transport bauxite from Minim Martap to the Kribi Port via the future rail link.

“Canyon has demonstrated the Minim Martap project is very large and one of the highest-grade bauxite deposits globally, confirmed by our recently-announced very high-grade Inferred Resource of 250.9 million tonnes at 50.8 per cent aluminium oxide (total) and 1.9 per cent silicon dioxide.

“Importantly, we have now confirmed the rail line is accessible and operational and when the rail extension is completed, it will provide access to the deep-water port that we can utilise to transport bauxite to customers.

“This is a key, positive differential to many other West African bauxite projects.”

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au

 

Canyon Resources Zeros in on High-Grade Bauxite Zones

THE BOURSE WHISPERER: Canyon Resources (ASX: CAY) reported a “very high-grade” Inferred Resource of 250.9 million tonnes at 50.8 per cent aluminium oxide (Al2O3) (total) and 1.9 per cent silicon dioxide (SiO2) (total) within the existing resource at the company’s Minim Martap project in Cameroon.

Canyon Resources said the new Resource was defined following a detailed review of previous exploration on the Minim Martap project that identified zones of extremely high-grade bauxite with very low contaminants within the existing bauxite resource.

The company declared the Resource to have validated its theory that the project is one of the highest grade very low silica bauxite resources globally, with clear potential to substantially grow the scale of the very high-grade zones.

The review determined that more than 50 per cent of the previously announced resource on the Minim Martap licence has a grade above 50.8 per cent Al2O3.

The high-grade sections within the individual plateau highlight trends that are consistent with Canyon’s interpretation of the project’s geology.

“By conducting a more detailed assessment of the historic resource, we have identified significant areas with very high-grade aluminium oxide and low total and reactive silica on all of the Minim Martap licence plateaux,” Canyon Resources chief geologist Alexander Shaw said in the company’s announcement to the Australian Securities Exchange.

“The remarkably high-grade, combined with very low levels of contaminants, and significant cumulative volume of greater than 250 million tonnes of bauxite in these areas further reinforces the fact that the Minim Martap project bauxite deposit is a true global tier 1 bauxite resource.

“We are utilising the information from this resource analysis to assist to target the drilling campaigns, to identify new high-grade zones at the Minim Martap project.”

Canyon is continuing its exploration drilling program at Minim Martap, focussing on the high-grade zones identified from the previous data.

The company has completed 157 holes for a total of 1,556m drilled.

Samples from the drilling are currently in the process of being assayed by ALS in Ireland.

Drilling is continuing at the Minim Martap permit, targeting bauxite zones that are consistent with the very high-grade zones identified by the resource review.

Plans are currently being implemented to extend the drilling onto new and previously undrilled bauxite plateaux on the Minim Martap and Makan permits that have also been identified as being consistent with the very high-grade bauxite zones.

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au