viewCanyon Resources Ltd

Canyon Resources drills quality bauxite at Minim Martap

The drilling program aims to upgrade the 550 million tonne resource averaging 45.5% aluminium oxide and 2.06% silicon dioxide.

cameroon map
Drilling also tested a new and previously untested bauxite plateau

Canyon Resources Ltd (ASX:CAY) has received positive initial assays from its aircore drilling at the Minim Martap Bauxite Project in Cameroon.

Results which include 15 metres at 54.9% aluminum oxide and 1.66% silica dioxide, have demonstrated the project’s thick, high-grade, low contaminant bauxite from surface.

Notably, most drill hole results had significant intersections greater than 50% aluminum oxide and low total silicon dioxide.

Assay highlights from the first 35 holes received

READ: Canyon Resources identifies 70 bauxite targets through survey at Cameroon project

Canyon’s managing director Phillip Gallagher said: “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.

“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 plateau.”

Results reinforce status as top tier bauxite project

Canyon’s chief geologist Alexander Shaw added: “The very high grade assay results and broad bauxite intersections that have been recorded from this first batch of assay results, reinforces the Tier 1 characteristics of the Minim Martap deposit.

“The confirmation of the bauxite floor, with a distinct increase in SiO2 in certain holes due to deeper drilling than had previously occurred, will assist in the future definition of the bauxite boundaries and resource.”

To date, 275 aircore holes have been drilled for 2,578 metres with assays received from the initial 35 holes.

Drilling on the project is ongoing with additional assays to come.

The first assays come from Beatrice

Quick facts: Canyon Resources Ltd

Price: 0.12 AUD

Market: ASX
Market Cap: $59.9 m

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