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Canyon Resources Ltd.
Summary
| Project: | Minim Martap | |
|---|---|---|
| Deposit: | Minim Martap | |
| Location: | Cameroon | |
| Commodities: | Aluminium-Silica | |
| Date: | 9/27/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-9-2019: Canyon Resources Ltd. announces a Resource Estimation report for its Minim Martap deposit at the Minim Martap project. Updated mineral resource estimate. Canyon Resources (“Canyon”) is pleased to announce a significant resource upgrade for its | |
| Resources: | (Resource, I+I): 892Mt @ 45.1% Al2O3, 2.8% SiO2 at project total | |
| CP/QP: | [Resources]: Mark Gifford (Mining Plus Pty Ltd.) | |
| ABSTRACT: | Canyon Resources (“Canyon”) is pleased to announce a significant resource upgrade for its 100%- owned Minim Martap Bauxite Project in Cameroon with the total tonnes increasing 62% and the Indicated Resource component increasing by 850%. The Minim Martap Project now has a total resource estimate of 892Mt at 45.1% Al2O3, 2.8% SiO2 (Cutoff Grade 35% Al2O3). 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. “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, highgrade 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.” | |
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