Black Canyon (ASX: BCA) reports ‘significant upside potential’ at Balfour Manganese Field - Kalkine Media

Highlights

• Exploration Target Estimates (ETE) have been concluded for the Pickering and Balfour East prospects.
• The ETE has demonstrated substantial upside potential for the Balfour Manganese Field.
• Global Mineral Resource across the field projects is 314 Mt @ 10.5% Mn containing more than 33 Mt of manganese.
• Through further exploration drilling and analysis, the company intends to convert exploration targets into Mineral Resource Estimates (MRE).
• BCA intends to undertake MRE infill and extension drill programs along with diamond core drilling for metallurgical testwork processing.

Black Canyon Limited (ASX: BCA) has identified considerable upside potential at the Balfour Manganese Field (BMF) with the completion of two JORC 2012 Exploration Target Estimates (ETE) for the Pickering and Balfour East Targets.

The ETE across the BMF is-

Data source: Company update 

These targets can be evaluated and potentially upgraded to Mineral Resources with additional infill and exploration drilling.

The ETE across the BMF is in addition to the Global Mineral Resources totalling 314 Mt at 10.5% manganese containing 33.1 Mt of Mn at a cut-off of 7% Mn.

Balfour East’s ETE expands on Balfour East’s Inferred MRE totalling 32 Mt @ 11.9% Mn.

MRE infill and extension drill campaigns, along with a diamond drill campaign for metallurgical testwork processing are scheduled for the 2024 field season.

Reverse circulation drill results from the Balfour East and Pickering targets have been validated and reviewed for exploration targets. Reverse circulation was completed in July 2023.

Pickering exploration target development

At the Pickering Target, 24 holes for 606m were completed and 606 assays were sent for XRF analysis. These grades have been utilised to ascertain grade for the Exploration Target.

The company has employed drill hole and assay information to come up with a 3D block model in Datamine by employing these steps –

Data source: Company update 

Exploration target development at Balfour East

At the Balfour East, 13 holes were concluded for 306m and 306 assays were sent for XRF analysis. These results and drill hole information have been utilised to create a 3D block model in Datamine by employing steps –

Data source: Company update 

The company has provided estimates for the exploration targets for both prospects by reporting tonnages between two grade cut-off ranges, the upper one at 10% Mn and the lower one at 4% Mn.

Plans ahead!

MRE infill and extension drill campaigns along with a diamond drill program for metallurgical testwork processing is expected during the 2024 field season.

Moreover, the company would continue High Purity Manganese Sulphate (HPMSM) testwork and manganese concentrate for the steel alloy industry with many feedstock options identified through multiple Mineral Resources across the BMF.

BCA shares traded at AU$1.105 apiece on 15 January 2024.