Canyon tips Minim Martap over 1bn tonnes

The new resource estimate followed the integration of results from the physical testing programme, the company told shareholders.

“It is very pleasing to see further positive results from the density testing completed by our team that upgraded the Minim Martap resource to over one-billion tonnes of high quality bauxite,” said MD Phillip Gallagher.

“The project is comparable to some of the biggest and best bauxite projects in the world, which is dominated by major aluminium companies such as Alcoa, Rio Tinto, Rusal and Emirates Global Aluminium. Importantly, there is significant upside potential as the current resource is only coming from 12 bauxite plateaux with 62 plateaux yet to be drilled. This is another positive step in the advancement of Minim Martap and highlights its enormous potential.”