Canyon Resources Ltd. on Sept. 4 announced a JORC-compliant resource estimate for its Minim Martap bauxite project in Cameroon.
The property hosts indicated resources of 88 million tonnes grading 41.8% aluminum oxide and 1.3% silicon dioxide, and inferred resources of 466 million tonnes grading 46.2% aluminum oxide and 2.2% silicon dioxide.
According to the company, there is potential to significantly increase resource tonnage as only 40% of the available bauxite plateaus have been tested to date. It could also target very high-grade bauxite zones on new plateaus and within the existing resources.
Canyon is currently preparing for the start of drilling and exploration works at Minim Martap.
The company recently said it is raising A$5 million to advance the project.