Black Canyon (ASX:BCA) is planning Mineral Resource Estimate (MRE) infill and extension drill programs at its Balfour Manganese Field (BMF) in Western Australia, after identifying ‘substantial’ manganese potential.
The $9.46 million market capitalisation company is also planning a diamond core drilling program for metallurgical testwork for the 2024 field season.
Today (16 January 2024), Black Canyon reports there is a ‘significant’ upside uncovered at the BMF, upon completing two (JORC 2012) Exploration Target Estimates (ETE).
In addition to the global mineral resources across Balfour, the ETE for the Pickering and Balfour East prospects as a range across the BMF is 160 to 215 million tonnes (Mt) at 11% to 12% manganese (Mn), containing between 18Mt to 23Mt of manganese.
Black Canyon Executive Director Brendan Cummins says the size of the ETE reinforces the prospectivity of the BMF. He says the company has also delineated a ‘substantial’ global mineral resource across Balfour, which exceeds 300Mt containing more than 33Mt of manganese.
“Subject to exploration risk, further exploration drilling and analysis, we hope to convert these exploration targets to MREs as they can potentially add between 18 and 23Mt of contained manganese to our MRE position.
This is significant in the global context because outside of Africa there are few deposits of this size and scale located in mining and infrastructure friendly jurisdictions like Western Australia.”
Black Canyon completed 13 holes for 306m of drilling across the Balfour East target and submitted 306 assays for analysis. These results were used to estimate grade for the exploration target.
Meanwhile, 24 holes for 606m were completed across the Pickering target. The company submitted 606 assays for analysis, which was used to estimate grade for the exploration target.
Black Canyon is a manganese-focused explorer with assets in the mineral-rich Pilbara region. The company has consolidated a significant landholding totalling 2,400km-square in the underexplored Balfour Manganese Field and across the Oakover Basin, in Western Australia.
The emerging potential for the Balfour Manganese Field is evident by the size of the geological basin, mineral resources identified to date, distance from port, potential for shallow open pit mining and a likely beneficiated Mn oxide concentrate product.
Black Canyon holds several exploration licenses 100% within the Balfour Manganese Field along with a 75% interest in the Carawine JV with ASX-listed Carawine Resources (ASX:CWX).
As of 30 September 2023, the company had $1.872 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Black Canyon
