Canyon Resources announces the discovery of new bauxite ore in Cameroon

Canyon Resources Ltd has alleged locating a large bauxite deposit in the Birsok project, in the centre of Cameroon, that it is in the way to having 75%, following a joint agreement, struck in late 2013, with the British company, Altus Strategies Ltd.

In the research report published on July 23, the ASX listed company indicated that the first round of drilling confirmed the existence of a thick layer of mineralisation, starting from the surface, of high bauxite content in the project involving two licences covering close to 1,460 km2.

The latest results obtained are “the highest to date”, especially those of the Djombi plateau, where, in some places, “there is high bauxite content with over 50% aluminium oxide (Al2O3) with low contamination levels, which is at least 5% silicium dioxide from the surface.”

The programme involved 19 plateaus which form, through 4 prospects, “a bauxite rich zone of 3.5 km in length and 40 m in width with an average depth of 4 m that contains aluminium oxide ranging between 40 and 45%,” reports Canyon Resource which is hoping to produce DSO bauxite in Birsok.

The results available from over a third of the samples include 6m @ 54,0% Al2O3 (2.62% total SiO2) from the surface, 3m @ 5.4% Al2O3 (4.3% total SiO2) from the surface, 4m @ 49,1% Al2O3 (5.8% total SiO2) from the surface, 4m @ 54.7% Al2O3 (1.4% total SiO2) from the surface.

Canyon Resources has an opening participation of 51% in Birsok, for 2 million Australian dollars in financing which it will bring up to 75% with an additional 4 million dollars in financing over three years.