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Canyon Resources Ltd

Canyon Resources confident in scale and high-grade of bauxite resource at Minim Martap

Canyon Resources Ltd (ASX:CAY) managing director Phil Gallagher speaks to Proactive Investors about the bauxite developer’s Minim Martap project in Cameroon.
 
“The project has an existing resource of over half a billion tonnes of high-grade bauxite of 46.5% with less than 2% reactive silica,” Gallagher says.
 
He continues “within that we were able to identify a resource of 49% bauxite which is very high-grade and in the current market high-grade bauxite is a highly desirable commodity."
 
The company has begun an initial aircore drilling and exploration campaign at Minim Martap targeting untested high-grade bauxite plateaux with the aim of increasing the already substantial resource. 

Quick facts: Canyon Resources Ltd

Price: $0.14

Market: ASX
Market Cap: $62.06 m
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