Canyon Resources hosts Minim Martap Bauxite Project site visit as PFS advances
Consultants and contractors visit project sites and transport corridors from the mine in central Cameroon to ports.
Company
ASX:CAY
Canyon is rapidly progressing the world-class Minim Martap Bauxite Project in Cameroon towards production through its in-country subsidiary Camalco. The company is on track to commence operations in early 2026 and make its first shipment of bauxite from Minim Martap in the 1H 2026.
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Consultants and contractors visit project sites and transport corridors from the mine in central Cameroon to ports.
The company’s Minim Martap project is a global tier-one bauxite asset with exploration upside and encompasses two main deposits, Ngouandal and Minim Martap within 25 kilometres of each other.
Canyon plans to develop the project in two stages using different rail and ports for each stage.
Canyon has been establishing a foothold over substantial high-grade bauxite resources in Cameroon in recent years.
The company aims to use the capital raising of up to $4 million to accelerate the delivery of a PFS on the Minim Martap Bauxite Project.
The company’s securities will remain in trading halt until Monday December 16 or when an announcement is made to market, whichever occurs earliest.
The scoping study relates to stage one of a proposed two-stage bauxite mining operation at the Minim Martap Project.
A two-stage development plan could result in lower start-up capex and a faster pathway to bauxite production.
The resource upgrade confirms the Minim Martap Project as a global Tier 1 bauxite project.
The company’s securities are in a trading halt until Friday, September 27, or when an announcement is released.
Drilling results from the Ngaoundal Licence suggest the current JORC resource may be increased further.
Multiple intersections of over 50% aluminium oxide with low silicon dioxide have been drilled from surface at the Sophia Plateau.
Recent drilling highlights from Minim Martap include 8 metres at 56.76% aluminium oxide and 1.63% silicon dioxide.
The company’s securities will remain in a trading halt until Tuesday, July 23, or when can announcement is released to the market.
Drilling was at the Agnes Plateau deposit within the Minim Martap project.
A rail line can be diverted to run past Canyon’s flagship Minim Martap Bauxite Project to an expanded deepwater port in Cameroon.
The Cameroon government has completed an independent feasibility study on a rail extension.
Canyon is developing a tier one direct shipping ore (DSO) bauxite project in Cameroon.
The company advises that current director Steve Formica has resigned from the board to pursue other business opportunities.
Further assays are pending from the Agnes, Raymonde, Gregorine and Danielle plateaux.