Canyon Resources (ASX: CAY) has impressed investors this morning with news it has uncovered a “very high-grade” bauxite trend with low contaminants at its Minim Martap project in Cameroon.
The new high-grade bauxite trend has been identified within the project’s existing resource which currently sits at 550 million tonnes grading 45.5% aluminium oxide with low silica contamination of 2.06%.
“Following detailed analysis of remote sensing imagery, the previous drilling and field mapping in the north-western and western part of the Minim Martap permit, we have identified a very exciting high-grade bauxite trend with a distinct north-east to south-west orientation lineation extending throughout the licence area,” Canyon’s chief geologist Dr Alexander Shaw said.
“We have identified three high-grade bauxite plateaux within the corridor and there is significant potential to identify additional high-grade plateaux along this highly prospective trend.”
With the discovery of the high-grade bauxite mineralisation, Canyon plans to advance Minim Martap “as quickly as possible”.
The company will test the mineralisation with its own drill rig as soon as it can, with the drilling campaign scheduled to continue through the dry season and wind up towards the end of July next year.
Exploration will involve drilling and pitting on the high-grade plateaux trends. By doing this, Canyon hopes to boost the existing bauxite resource.
Canyon is targeting a resource of more than 200Mt grading 50% aluminium oxide in the current program.
Prior to kicking-off drilling, Canyon will consult with local communities and stakeholders and map significant and sacred sites within the area.
Additionally, while advancing Minim Martap, Canyon will evaluate the existing rail infrastructure and look at a potential new rail corridor to the country’s Kribi port.
Minim Martap project
Minim Martap encompasses 1,349 square kilometres and is alongside Canyon’s existing Birsok bauxite project in Cameroon’s Adamawa region.
Canyon has firmed up two primary deposits at the Minim Martap including Ngouandal and Minim Martap.
The project has three exploration permits that are valid for three-years with several predefined work commitments that tie in with Canyon’s development proposal.
As a result of Canyon’s work at Birsok, the company has a “strong understanding” of the physical and geochemical characteristics of the area’s bauxite, which is generally high in alumina and low in contaminants.