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- Recently-listed company Black Canyon (BCA) confirms extensive surface manganese mineralisation at the Oakover East tenement
- Oakover East is part of the WA-based Carawine Project which BCA is earning up to a 75 per cent interest in through an agreement with Carawine Resources
- In addition to identifying mineralisation, the field work also defined prospective manganese targets which haven’t been adequately drilled
- Black Canyon plans to follow this up with further exploration to potentially generate new targets
- Company shares ended the day 1.75 per cent in the red to close at 28 cents
Black Canyon (BCA) has confirmed surface manganese mineralisation at the Oakover East tenement which is part of the Carawine Project in Western Australia.
The company entered a binding heads of agreement with Carawine Resources (CWX) in December last year to earn up to a 75 per cent interest in the project by spending $4 million on exploration within five years.
Black Canyon listed on the ASX in early May and raised $5 million through its initial public offering (IPO) which it’s using for field activities.
This exploration confirmed outcropping zones of manganese and mineralisation along a 1200-metre strike between the SU1 and ZL1 prospects where previous drilling intersected significant intervals.
Best results include 11 metres at 18.8 per cent manganese from 66 metres, six metres at 16.8 per cent manganese from seven metres, and 14 metres at 18.5 per cent manganese from 52 metres including eight metres at 27.8 per cent manganese.
The company also identified widespread surface mineralisation that spans over 500 metres at the TU1 and AP1 prospects.
Executive Director Brendan Cummins said the recent exploration work was successful.
“The recent field trip to Oakover East to review the string of prospects along the Fig Tree Manganese Trend has provided invaluable information on the potential of the prospects for high-grade, hydrothermal style manganese mineralisation.”
Moving forward, the company plans to explore the multiple zones of manganese mineralisation and potentially generate new targets for evaluation and drilling.
Company shares ended the day 1.75 per cent in the red to close at 28 cents.
