Perth-based mineral miner Canyon Resources Limited said this week that their Minim Martap Project in West Africa has a high-grade measured resource of 268 million metric tons.
According to third-party estimates, the project has a total resource of over one billion metric tons of bauxite ore with an alumina content of 35 percent or better. The measured resource is 382 million metric tons, while the indicated resource is 597 million metric tons. The site holds an inferred resource of 48 million metric tons.
Meanwhile, the Minim Martap project contains a significant amount of high-grade bauxite ore, containing at least 45 percent alumina. The total resource is half a billion metric tons, with 268 million metric tons of the high-grade bauxite ore measured. High-grade bauxite ore indicated at the site totals 218 million metric tons, while an inferred amount of 14 million metric tons is expected to be found at the site.
Canyon’s Managing Director Phillip Gallagher said in a press release that the updated numbers bodes well for the project.
“This upgrade of the Minim Martap Mineral Resource to include 382Mt in the Measured category is particularly significant for the Project. Canyon has now defined many operational decades of Measured Resources that are all very high grade and with very low silica. As the global bauxite market has a lot of new lower quality bauxite projects commence production in the past few years, such a potentially consistent long-term supply of such high quality bauxite is quite unique.”
Canyon’s Director of Projects James Durrant said the report represents a major step forward for the project.
“This Resource upgrade brings over one third of the total Minim Martap resource into the Measured category. A significant milestone for the Company, made possible by the hard work of our Cameroonian Team during some challenging times. Measured resources of 382Mt provides significance confidence in our resource definition, further de-risking an already robust project, and underpinning the production profile for the first 20 years of operation.”
This week’s estimate updates the JORC 2012 compliant Mineral Resource estimate and relies upon 210 drilled holes at the site for over 2.4 km.