Canyon Resources Ltd (ASX:CAY) has revealed a significant resource upgrade for its Minim Martap Bauxite Project in Cameroon with the total tonnes increasing 62% and the indicated resource increasing by 850%.
The Minim Martap Project now has a total resource of 892 million tonnes at 45.1% alumina and 2.8% silica (cut-off grade 35% alumina).
This includes:
- an indicated resource of 839 million tonnes at 45.2% alumina, 2.8% silica (cut-off grade 35% alumina); and
- a high-grade indicated resource of 431 million tonnes at 48.8% alumina, 2.6% silica (cut-off grade 45% alumina).
Canyon managing director Phillip Gallagher said: “Upgrading the Minim Martap resource to nearly 900 million tonnes of high-grade, low contaminant bauxite confirms the Minim Martap Project as a global tier-1 bauxite asset.
“The bauxite is proven to be very gibbsite-rich with negligible boehmite, making it suitable for use in both high and low temperature alumina refineries.
Typical bauxite profile of Minim Martap bauxite resource
“The Minim Martap Project is now one of, if not the, largest Guinea-style, high-grade, low contaminant bauxite deposit located outside of Guinea with accessible and operating infrastructure including an existing rail and two potential port options. As more than half the world’s seaborne bauxite supply is sourced from Guinea, we believe that the Minim Martap Project will be a valuable and strategic global asset for major refiners looking to secure alternate streams of long-term, high-grade bauxite.
“We are now in a stronger position to negotiate off-take deals and commence discussions with major companies to advance development of the project.”
Pre-feasibility study
Canyon Resources has initiated a Pre-feasibility study (PFS) for the project, which will evaluate the technical, execution and commercial solutions for monetisation of the bauxite resource.
This work is focussed on delivering an optimal mine, rail and port solution for the project and is supported by and Environmental and Social Impact Assessment (ESIA) which has begun with baseline investigations.
Location map of Canyon’s Bauxite Projects and proximity of Camrail rail line
Newly appointed director of projects, James Durrant, recently conducted a project site and infrastructure tour.
He said: “The scale of the deposit in the plateaux is extraordinary and the results from the resource show an exceptional quality which positively differentiates the deposit from many of its peers.
“The fundamental logistical infrastructures are in place with a rail network and port options which simplify the major components of the project.
“The PFS is well underway with a specific focus on the technical and commercial integration of the project with the existing infrastructure. Due to the growing scale of the project, Canyon has broadened the scope of the PFS study.”
Ongoing work
As part of an ongoing geological evaluation, Canyon is reviewing the remaining plateaux throughout the tenements which were previously identified as prospective for bauxite resources.
Recent exploration yielded very high-grade bauxite results in the Makan tenement.
The company is confident that the recent success of this first program in the Makan tenement can continue throughout the identified plateaux areas yet to be explored.
The Makan drilling explored a very small percentage of new plateau areas identified by Canyon’s geological team, with large areas of identified yet unexplored plateaux remaining to be tested.