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Canyon Resources produces Minim Martap bauxite datasheet to progress offtake negotiations

The specification sheet provides a basis for commercial and technical progression of bauxite offtake agreements.

Canyon Resources Ltd - Canyon Resources provides Minim Martap Bauxite data sheet to progress offtake negotiations
The data sheet is now displayed on Canyon’s website

Canyon Resources Ltd (ASX:CAY) has produced a bauxite technical specification datasheet for its Minim Martap project in Cameroon which will support ongoing offtake and strategic partnership negotiations.

The bauxite technical specification is indicative of the product able to be produced at Minim Martap and is underpinned by the recently released pre-feasibility study (PFS) which itself is based on the 892-million-tonne mineral resource estimate.

“Integrates with offtake strategy”

Canyon director of projects James Durrant said: “It is pleasing to have the necessary data and modelling now completed to show to our stakeholders and future offtake partners the technical specifications of the Minim Martap bauxite.”

Chief development officer Rick Smith said the bauxite technical specification sheet was further validation of the very high quality of the Minim Martap bauxite as a future premium bauxite product.

He said: “This integrates with our offtake strategy and will be shared with key global alumina refiners.”

The product specification datasheet will be subject to refinement as more details are integrated with the resource modelling and mine scheduling.

Robust PFS

The recently completed PFS demonstrates the potential for a robust, first stage, 5 million tonnes per annum direct shipping ore bauxite project with an NPV10 of US$291 million and an IRR of 37% on a capex of US$120 million and an average opex of US$35.1/tonne.

The Minim Martap project has a total mineral resource estimate of 892 million tonnes at 45.1% aluminium oxide, 2.8% silica (cut-off grade 35% aluminium oxide) and a high-grade resource of 431 million tonnes at 48.8% aluminium oxide, 2.6% silica (cut-off grade 45% aluminium oxide).

Minim Martap Bauxite Project location.

Quarterly mining schedules

The data sheet follows the multi-element update to the resource block models, the completion of detailed quarterly mine scheduling as part of the PFS, the completion of the Tunra material testing program and the integration of the basic metallurgical testing program and data within the current mineral resource estimate.

Detailed quarterly mining schedules, as part of the PFS, were designed from the strategic schedules and honed to produce stable material movement and product grade profiles.

These schedules demonstrate a consistently high-grade product with a low and stable strip ratio mined in a practical strip-mining operation using surface miners and have determined the detailed product specification data.

Multi-element update

The multi-element update to the block model introduced the grades for the following elements: barium oxide, calcium oxide, chromium(III) oxide, potassium oxide, magnesium oxide, manganese (II) oxide, sodium oxide, phosphorus pentoxide, sulfur trioxide, strontium oxide, titanium dioxide, vanadium (V) oxide, zinc, zirconium dioxide and LOI (loss on ignition).

Analysis for the suite of secondary elements and LOI was completed in 2019 during analysis for the 2019 mineral resource.

The secondary elements, whilst a minor part of the bauxite, are all within acceptable limits for low-temperature refining and highlight the low contaminant nature of the Minim Martap project bauxite.

Quick facts: Canyon Resources Ltd

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