Black Canyon (ASX:BCA) has received further assay results that confirm thick, shallow manganese-enriched shales at the KR1 discovery within the Balfour Mineral Field in Western Australia.
The $8.63 million market capitalisation company says these latest assays demonstrate widespread manganese mineralisation at KR1, with several ‘higher-grade’ intersections reported from surface or near to surface.
All of the drill samples are at the laboratory, and further assays from the remaining targets are expected over the coming months.
Black Canyon reports ‘significant’ intersections include drillhole KRRC024 with 3m @ 19.2% manganese (Mn) from surface; and drillhole KRRC025 with 15m @ 18.6% Mn from 2m, including 7m @ 26% Mn from 10m.
Commenting on the drill assays, Black Canyon Executive Director Brendan Cummins says: “The continued delivery of wide zones of manganese enriched shale at KR1 has tripled the known strike of the mineralised body to 600m, with a further 1,600m of drill results along-strike to the northeast still to be received, which could see a material increase in the mineralised footprint.
“we are extremely pleased with the way the KR1 discovery is currently trending“
Cross-strike widths are also significant, ranging from 200m to 500m, and the latest results have also shown shallow higher-grade intervals ranging between 18% to 26% Mn. In short, we are extremely pleased with the way the KR1 discovery is currently trending.
The results are confirming our expectations of the mineralisation model, and we are confident that KR1 and other key targets across the Balfour Manganese Field will help to build mineral resources, based on previous discoveries we have made in the region.”
The recent drill program was designed to drill test multiple targets across the company’s tenements within the Balfour Field.
At KR1, the company tested a previously undrilled 2,500m section of outcropping supergene mineralisation using east-west oriented lines 200m apart, with drillholes spaced at 100m or 200m centres.
Black Canyon is an ASX-listed explorer that has consolidated a landholding of 2,750km-square in the underexplored Balfour Manganese Field and across the Oakover Basin in Western Australia.
As of 30 June 2023, the company had $1.183 million cash and cash equivalents at hand, according to its latest quarterly report. In July, Black Canyon completed a placement to raise $1.95 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Black Canyon
