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Canyon Resources latest drill results support bauxite resource growth

Proactive Investors Sunday, 11 August 2019
Canyon Resources Ltd (ASX:CAY) has received another set of aircore drilling results, this time from its Ngaoundal licence within its Minim Martap Bauxite Project in Cameroon. Highlights include 10 metres at 50.1 aluminium oxide and 0.7% silicon dioxide from surface. With many of the drill holes intersecting high-grade, low-contaminant bauxite, Ngaoundal’s resource of 88 million tonnes grading 41.8% aluminium oxide and 1.3% silicon dioxide could be upgraded. Results averaged 43.5% aluminium oxide and 1.05% silicon dioxide for the 49 aircore holes drilled at the three plateaux within the Ngaoundal licence. READ: Canyon Resources secures $4 million for Minim Martap Bauxite Project PFS Canyon’s chief geologist Dr Alexander Shaw said: “These drilling results from the Ngaoundal plateaux are very positive as they showed a strong improvement in the grade from the previous resource on the plateau.” Notably, several holes were stopped in high-grade material due to wet drilling conditions which means the resource is open at depth in this licence. The results from Ngaoundal will feed into an updated resource estimate for the pre-feasibility study (PFS) on the Minim Martap Project underway. Throughout the next 12 months, targeted resource drilling will be completed to support the delivery of the PFS. READ: Canyon Resources drill high-grade bauxite at Minim Martap Today’s aircore results follow up last week’s assay batch from within the Makan licence of Minim Martap. The Minim Martap Project’s JORC resource is spread across 14 plateaux encompassing two deposits, Ngouandal and Minim Martap, which are located within 25 kilometres of each other.
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