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Canyon Resources Ltd.
Summary
| Project: | Minim Martap | |
|---|---|---|
| Deposit: | Minim Martap | |
| Location: | Cameroon | |
| Commodities: | Aluminium-Silica | |
| Date: | 11/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-11-2019: Canyon Resources Ltd. announces a Scoping Study report for its Minim Martap deposit at the Minim Martap project. Scoping Study results for project. Canyon Resources Limited (Canyon or the Company) is pleased to report the outcomes of the Scopi | |
| Resources: | (Resource, I+I): 892Mt @ 45.1% Al2O3, 2.8% SiO2 at project total | |
| CP/QP: | [Resources]: Mark Gifford (Independent) | |
| ABSTRACT: | Canyon Resources Limited (Canyon or the Company) is pleased to report the outcomes of the Scoping Study (the Study) for Stage-1 of the Minim Martap Bauxite Project (the Project) located in Cameroon, West Africa. The Project is 100% owned by Canyon. The Study represents an interim milestone in the Minim Martap Pre-Feasibility Study (PFS) which was initiated in 2019 and is anticipated to be presented as a 2-Stage, 2-Port development opportunity in the first half of 2020. The Study was supported by a variety of leading consultants including Ausenco, Mining Plus and Wood Mackenzie and draws on a wealth of industry knowledge in rail and port operations, bauxite mining and bulk commodities. The Study demonstrates Stage-1 of the Minim Martap Project as a robust, stand-alone, project with significant upside potential via a longer mine life underpinned by a high grade, large volume resource thought to be the only Guineastyle bauxite deposit outside of Guinea The current resource still only represents approximately 50% of the available target bauxite plateaux on the Project area. Canyon is planning the development of the Project in a 2-Stage, 2-Port execution programme with initial production exported though the port of Douala utilising the existing rail and port infrastructure. As the Study demonstrates, Stage1 is expected to be a self-supporting bauxite project with a simple, low cost and fast track path to operations. Stage-2 is anticipated to unlock higher export volumes and lower operating cost. Stage-2, which is being investigated as part of the PFS currently underway, will focus on the improvement of Stage-1, and the transition from Stage-1 to Stage-2, via the installation of the Kribi rail extension allowing for higher production rates through the existing deep-water port of Kribi. | |
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