Mineral Resource Increased To Over 1B Tonnes In Cameroon
Canyon Resources Limited (ASX: CAY) updated Mineral Resource estimate of the high grade Minim Martap Bauxite Project in Cameroon, West Africa.
Managing Director, Phillip Gallagher, said the JORC 2012 compliant 2020 Mineral Resource estimate for Canyon’s high grade Minim Martap Project has been increased to over 1 billion tonnes.
“It is very pleasing to see further positive results from the density testing completed by our team that upgrades the Minim Martap resource to over 1 billion tonnes of high quality bauxite,” Mr Gallagher said.
“The Project is comparable to some of the biggest and best bauxite projects in the world which is dominated by major aluminium companies such as Alcoa, Rio Tinto, Rusal and Emirates Global Aluminium.
“ Importantly there is significant upside potential as the current resource is only coming from 12 bauxite plateaux with 62 plateaux yet to be drilled. This is another positive step in the advancement of the Minim Martap Project and highlights its enormous potential.”
Canyon’s mining and geological consultants, Mining Plus and Mark Gifford, were both involved in the completion of the update. Both parties have a strong and long term relationship with Canyon and the Project and are supporting Canyon in advancing the Feasibility Study.
The completion of the Physical Properties Programme which tested for rock strength, moisture levels and density, allowed for an update of the density assumptions of the Mineral Resource Estimate.
Over 500 samples were tested in total extracted from a number of recently constructed and historical pits on the priority plateaux, ranging in depth from 4.75 to 11m. Based on accessibility, 7 pits across the 3 priority plateaux were selected for the physical properties programme (2 on Beatrice, 2 on Danielle and 3 on Raymonde).
The pits were sampled using a hand-held jackhammer, miner’s bars, chisels, and hammers. For surface samples, sampling was undertaken from predetermined locations on the plateau surfaces with 30 samples collected on each plateau. All samples were logged and coded onsite by a geologist prior to transportation to base camp for testing.
The 2019 Mineral Resource estimate was based on the results from previous tests on 167 density samples completed on diamond drill core collected in 2009.
The dry density value assumption for the 2019 Mineral Estimate used a conservative figure based on the averages of the results from this diamond drilling test work. It was proposed in the 2019 Mineral Resource estimate to conduct further work on density and this was included in the Physical Testing Programme.
The company’s recently released Stage 1 Pre-Feasibility Study5 demonstrated the Minim Martap Bauxite Project’s potential as a long-term producer of very high quality, low contaminant bauxite via a multi-stage development program utilising existing infrastructure in Cameroon.
Canyon is advancing strategic partnership and off-take agreement discussions with interested parties to accelerate the Project development timeline.
The 100% owned Minim-Martap Bauxite Project is a direct shipping ore (DSO) project development opportunity in central Cameroon.
Canyon is planning the development of the bauxite Project in a 2 Stage, 2 Port execution programme with initial production exported though the port of Douala utilising the existing rail and port infrastructure and Stage 2 unlocking tonnes and reducing costs by utilising the port of Kribi.
