Canyon Resources Ltd (ASX:CAY) has upgraded the JORC resource at its Minim Martap Bauxite Project in Cameroon from JORC 2004 to JORC 2012 compliance.
The upgraded resource is 550 million tonnes at an average grade of 45.5% aluminium oxide and 2.06% silicon dioxide.
This consists of an indicated 88 million tonnes averaging 41.8% aluminium and 1.3% silicon and an inferred 466 million tonnes averaging 46.2% aluminium and 2.2% silicon.
The upgrade was independently completed by SRK Consulting Pty Ltd.
READ: Canyon Resources upgrades half a billion tonnes of high-grade bauxite resource
Canyon managing director Phillip Gallagher said: “We are very pleased to announce such a substantial JORC 2012-compliant resource just four weeks after securing the Minim Martap Bauxite Project.
“The resource, more than half a billion tonnes of high-grade, low-contaminant bauxite, is significant compared to other bauxite deposits globally.
“We have a pathway to increase the size of the deposit by drilling untested plateaux while targeting some of the very high-grade zones within the existing deposit.
“We are focused on developing Minim Martap into a long-term, multi-million tonne mining and export project.”
READ: Canyon Resources raises $5 million to advance bauxite project in Cameroon
Only around 40% of the available bauxite plateaux at Minim Martap have been tested, providing clear opportunity for Canyon to test additional prospective areas within the project.
The company is now implementing a development plan for Minim Martap, with next steps including:
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Upgrades for access tracks to the bauxite plateaux;
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Finalising the drilling program to increase the scale of the total resource;
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Resource upgrade and exploration drilling; and
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Local community and stakeholder consultation.