- High-grade results have been returned from Canyon Resources’ Sophie Plateau – which is located within its Minim Martap Bauxite Project
- Drill results have returned readings of more than 50 per cent aluminium oxide
- These results indicate the potential for further high-grade areas in the region
Canyon Resources has reported high-grade results at its Sophie Plateau, located within its flagship Minim Martap Bauxite Project in Cameroon.
The Minim Martap Project is located in the Adamawa region of Cameroon, next to Canyon’s existing Birsok Bauxite Project, and spans a total area of 1349 square kilometres.
The previous exploration completed at Minim Martap has given Canyon a strong understanding of the physical and geophysical characteristics of the bauxite. The bauxite is generally high in alumina, low in total and reactive silica has high gibbsite and low boehmite.
Significant results of aluminium oxide, over 50 per cent, were identified in 23 of the initial 27-hole program that was completed in July 2019. These results outlined high-grade and low contaminant bauxite from the surface.
Other high-grade results include 5 metres @ 53.7 per cent aluminium oxide and 1.1 per cent silicon dioxide, and 8 metres @ 51.3 per cent aluminium oxide and 1.1 per cent silicon dioxide.
The initial success outlines the potential for further high-grade bauxite plateaux in addition to those already identified in the area. However, none of these plateaux has ever been drilled or previously included in bauxite resource estimates.
But Chief Geologist of Canyon Dr Alexander Shaw is pleased with the results so far.
“The drilling results from the previously untested Makan licence are very pleasing and confirm Canyon’s regional geological model for an extensive and new high-grade bauxite resource potential,” he said.
However, some of the holes were terminated due to wet drilling conditions preventing further penetration from the air-core rig.
The canyon is now progressing a pre-feasibility study for Minim Martap and throughout the next 12 months, targeted resource drilling will be completed to support the delivery of the study.
Despite this discovery, Canyon shares are down 3 per cent, trading for 16 cents a share in a $73.14 million market cap.