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Canyon Resources Ltd.
Summary
| Project: | Minim Martap | |
|---|---|---|
| Deposit: | Minim Martap | |
| Location: | Cameroon | |
| Commodities: | Aluminium-Silica | |
| Date: | 4/17/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-4-2019: Canyon Resources Ltd. announces an Exploration/Drilling Update report for its Minim Martap deposit at the Minim Martap project. Drilling results incl. 15.0m @ 54.9% Al2O3, 1.66% SiO2 from 0m. Canyon Resources Ltd (ASX: CAY) is pleased to report | |
| Resources: | (Resource Inf.): 250Mt @ 50.8% Al2O3, 1.9% SiO2 at the High grade resource | |
| CP/QP: | [Overall Report]: Alexander Shaw (Internal) | |
| ABSTRACT: | Canyon Resources Ltd (ASX: CAY) is pleased to report that it has received very positive initial assays from its aircore drilling campaign on the Minim Martap Bauxite Project in Cameroon, which have demonstrated the project’s thick, high-grade, low contaminant bauxite from surface. The current drilling program aims to increase the scale, grade and categorisation of the existing project resource (550Mt averaging 45.5% total Al2O3 and total 2.06% SiO2, JORC 2012)1 and then test new and previously untested bauxite plateaux to add additional high-grade tonnage. Canyon has received the first results from its drilling on the Beatrice Plateau at Minim Martap, where it has received assays from 35 holes, with a further 522 samples awaiting assay. A significant number of results received in the first batch of assays demonstrate very high-grade bauxite, at greater than 50% Al2O3 and less than 2.5% total SiO2, including hole BE-19-0040 which averages 14 metres at 56.47% Al2O3 and 1.72% SiO2 including 5 metres at 62.06 Al2O3 and 0.66% SiO2. Canyon’s aircore drill rig has consistently drilled mineralized holes deeper than the resource reported by the previous owners, sometimes up to twice the depth. The Company believes that its aircore rig has been far more effective at penetrating the bauxite plateaux than auger drilling rigs used previously. Results received to date are consistent with the Company’s view that the Minim Martap Project will be a Tier 1 high-grade, low contaminant bauxite project. | |
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