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Canyon Resources Ltd.
Summary
| Project: | Minim Martap | |
|---|---|---|
| Deposit: | Minim Martap | |
| Location: | Cameroon | |
| Commodities: | Aluminium-Silica | |
| Date: | 9/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-9-2018: Canyon Resources Ltd. announces a Resource Estimation report for its Minim Martap deposit at the Minim Martap project. Update to previous announcement, mineral resource estimate unchanged. Canyon Resources Ltd (ASX: CAY) is pleased to announce | |
| Resources: | (Resource I+I): 550Mt @ 45.5% Al2O3, 2.06% SiO2 | |
| CP/QP: | [Resources]: Bruce McConachie (SRK Consulting (Australasia) Pty Ltd.) | |
| ABSTRACT: | Canyon Resources Ltd (ASX: CAY) is pleased to announce the upgrade of the JORC (2004) resource for its Minim Bauxite Martap Project, Cameroon, to a JORC (2012) compliant resource. The upgrade to JORC 2012 status has been independently completed by SRK Consulting (Australiasia) Pty Ltd (SRK). Only approximately 40% of the available bauxite plateaux on the Minim Martap Project area have been tested to date, providing clear opportunity for Canyon to test additional new bauxite plateaux in the south of the Minim Martap permit and on the Makan permit. The Minim Martap Project is a large scale, world class bauxite resource with potential to identify substantial very high-grade zones within the existing deposit and to significantly increase the scale of the total resource. Canyon Resources 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 focussed on developing Minim Martap into a long term, multi million tonne mining and export Project.” The Mineral Resources on the Minim Martap Project were estimated on a plateau by plateau basis and the individual plateau Mineral Resources are shown in Table 2 below. | |
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