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Canyon Resources on track for Minim Martap PFS in second quarter

Published: 19:18 22 Mar 2020 EDT

Canyon Resources Ltd - Canyon Resources on track for Minim Martap PFS in second quarter
Minim Martap’s mineral resource is 892 million tonnes at 45.1% aluminum oxide and 2.8% silicon dioxide

Canyon Resources Ltd (ASX:CAY) is continuing development at its 100% owned Minim Martap Bauxite Project in central Cameroon, Africa, with the delivery of the pre-feasibility study (PFS) on track.

The study, along with the maiden ore reserve for the project are expected to be delivered in the second quarter 2020.

Managing director Phillip Gallagher said: “We know we are in unprecedented times and that everyone is in some way affected, however, as a business we are in a strong position to continue to deliver on the project whilst protecting our people.

“This has been the result of careful contingency planning and having selected the right people and organisations globally to partner with for the delivery of the PFS.”

The PFS is underpinned by Minim Martap’s mineral resource of 892 million tonnes at 45.1% aluminum oxide, 2.8% silicon dioxide.

Coronavirus management plan

The company has implemented a Coronavirus (COVID-19) management plan for its head office and project team which allows Canyon to continue with on-site activities.

While sensible procedures have been put in place to limit the risk of any of Canyon’s team being affected by COVID-19, the company is continuing to work at full capacity and execute its work plan at Minim Martap.

Canyon’s in-country technical and operational team are all Cameroonian, unaffected by travel restrictions and fully supported by the local community.

Gallagher said: “We are very fortunate to have a very talented and capable Cameroonian technical team who have delivered the high-quality work completed on Minim Martap to date and will continue to work on site, under appropriate precautions.”

A specialist doctor visited the Minim Martap camp late last week and advised the on-site team on COVID-19, including preventative measures, modes of transmission, symptoms and management of anyone who may develop symptoms potentially consistent with the virus.

Canyon Resources Minim Martap Project map

Technical works continue remotely

All PFS related independent consultant site visits were completed in February, and as a result all further technical works on desktop studies and modeling will be completed by Canyon’s partners at their home bases.

Management and further interaction are scheduled to be conducted electronically and without any disruption to the completion timeline.

Gallagher said: “I would like to stress to all shareholders that although we are adjusting the way we do business in line with current global warnings and appropriate practices, we are still on track to deliver on our commitments, including the upcoming Minim Martap PFS.”

Potential offtake options

Although all non-essential travel has been canceled, under the control of a thorough risk assessment, Gallagher and chief development officer Rick Smith have completed meetings in the Middle East with senior business leaders in the aluminium, alumina and bauxite industry.

The meetings were to advance discussions with potential future strategic offtake and funding partners as the Project enters the next stage of its development.

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