Canyon Resources releases resource upgrade for its Minim Martap Bauxite Project in Cameroon

Canyon Resources released a resource upgrade for its Minim Martap Bauxite Project in Cameroon on Friday, September 27. The company reported 62% increase in total tonnage and 850% increase in the Indicated Resource component.  The project now has a total resource estimate of 892 million tonnes with 45.1% Al2O3 and 2.8% SiO2.

“Upgrading the Minim Martap resource to nearly 900 million tonnes of high-grade, low contaminant bauxite confirms the Minim Martap Project as a global tier-1 bauxite asset,” Canyon Managing Director Phillip Gallagher said.

He added that the bauxite is gibbsite-rich and suitable for both high and low temperature alumina refineries. 

He also said that the Minim Martap Project is one of the largest Guinea-style, high-grade, low contaminant bauxite deposit located outside of Guinea. The project is also connected with an existing rail line and has two potential port options. It will offer a strategic global asset for refiners looking to secure alternate source of long-term, high grade bauxite

Gallagher also said that Canyon is in a strong position to negotiate off-take deals and commence discussions with major companies in order to expedite the project growth.

Up to this point, exploration initiatives focused on reviewing and verifying past exploration work, identifying and mapping all the target bauxite plateaux and testing new previously unexplored bauxite plateaux.

Canyon has so far focused on reviewing and verifying past exploration work, mapping target bauxite plateaux and testing the unexplored plateaux. Less than 50% of the identified bauxite plateaux has already been tested.