The biggest and best unallocated bauxite deposit in the world, just got bigger and better
Minim Martap Mineral Resource Estimate upgrade adds Measured Resource Highlights Minim Martap Project Mineral Resource estimate has been upgraded following grade definition drilling1 The quality of the Mineral Resource remains high in Alumina and low in Silica and contains: o 1.027 billion tonnes at 45.3% Al2O3, 2.7% SiO2 at a cut-off grade of 35% Al2O3, including; o A High Grade Resource of 500 million tonnes at 49.0% Al2O3, 2.6% SiO2 at a cut-off grade of 45% Al2O3, which includes; o A High Grade Measured Resource of 268 million tonnes at 49.7% Al2O3, 2.6% SiO2 at a cut-off grade of 45% Al2O3. The 1 billion tonne resource represents only 17 bauxite plateaux of the Minim Martap Project with 62 plateaux remaining for drill testing. Metallurgical test work2 continues to show high availability of contained alumina at over 90%3 and consistently high recoveries for all Minim Martap bauxite
Canyon’s Managing Director, Mr Phillip Gallagher said: “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.”
The price of Aluminum has gone from a 10 year low 12 months ago to a now 10 year high, this obviously makes the bauxite more valuable and in demand.
