Canyon Resources Ltd (ASX:CAY) has updated the mineral resource estimate for the high-grade Minim Martap Bauxite Project in Cameroon, West Africa, to in excess of 1 billion tonnes after integrating results from a physical testing program.
The quality of the bauxite remains unchanged and the resource has been upgraded to 1.002 billion tonnes at 45.2% alumina and 2.8% silica at a cut-off grade of 35% alumina, with a contained high-grade portion of 484 million tonnes at 48.8% alumina and 2.6% silica at a cut-off grade of 45% alumina.
Canyon managing director Phillip Gallagher said: “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.
“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 Corp (NYSE:AA), Rio Tinto Limited (ASX:RIO), United Company Rusal Plc (HKG:0486) and Emirates Global Aluminium.”
The JORC 2012-compliant 2020 mineral resource estimate for the Minim Martap Project.
Physical Properties Program
The Physical Properties Program, which tested for rock strength, moisture levels and density, allowed for an update of the density assumptions of the mineral resource estimate.
Density measurements returned higher specific gravities than assumptions used in the 2019 mineral resource estimate, increasing the resource tonnes by over 10%.
The 1-billion-tonne resource represents only 12 out of 62 bauxite plateaux of the Minim Martap Project.
Gallagher said: “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.”
Recent metallurgical test-work showa very high availability of the contained alumina at over 90% and the consistently high recoveries of alumina across the Minim Martap bauxite.
The company is now focused on advancing the feasibility study for the project.