Junior explorer Black Canyon (ASX:BCA) has wrapped up a reverse circulation (RC) drilling program and identified manganese mineralisation at its Balfour Manganese projects in Western Australia.
The company, which has a market capitalisation of $8.3 million, tested 6 key prospects through the drilling work, including the KR1 and Balfour targets, for 6,927m of RC drilling.
All samples have now been delivered to a laboratory for analysis. Black Canyon anticipates initial assays will be received over the coming weeks.
Black Canyon’s share price has jumped up $14.81% to $0.155 as of 2:02pm on Monday afternoon.’
Commenting on the RC drill program, Black Canyon Executive Director Brendan Cummins says: “The RC drill program has successfully intersected significant manganese mineralisation across the 100% owned Balfour Manganese Field projects.
As anticipated, drilling at KR1 and KR2 confirmed thick intervals of manganese-enriched shale from surface, with many similarities to the mineralisation we have discovered at Flanagan Bore.
On that basis, we are confident that there is additional mineral resource potential on the projects that will confirm the endowment of this prospective region.
“We are confident that there is additional mineral resource potential on the projects that will confirm the endowment of this prospective region”
At Wandanya, the high-grade 50% Mn2 plus manganese mineralisation at W2 has been followed up, with further mineralisation mapping and extended over 1,500m to the north. The mineralisation is unusually high-grade, and an IP survey is now planned to help understand the depth potential and geometry.
A positive response from that IP survey will put us in a position to plan the maiden drill program on this exciting target.”
Black Canyon is an ASX-listed exploration company with a ‘significant’ landholding totalling 2,400km-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 published on 31 July.
Images: Black Canyon
