Black Canyon (ASX:BCA) reports promising manganese assays from Wandanya; shares jump

Highlights

• Promising assays from the W2 prospect confirmed high-grade manganese mineralisation.
• The stratabound mineralisation indicated significant thickness and grade consistency over 240 metre of drilled strike.
• The remaining assay results are expected in mid-November.
• Benchtop test planned to beneficiate lower-grade manganese, targeting a product with 35-40% Mn content.
• BCA shares jumped over 14% to AU$0.065 following the positive update.

Black Canyon Limited (ASX:BCA), a manganese exploration and development company, has received promising laboratory results from the reverse circulation (RC) drill program at the W2 prospect, Wandanya.

The maiden drilling campaign has uncovered potential hydrothermal-related stratabound mineralisation, with high-grade manganese assay results confirming the preliminary pXRF results released in September 2024.

Significant results include-

Data source: Company update

The stratabound mineralisation shows impressive thickness and grade consistency across 240 metres of drilled strike and remains open to the north and east, where BCA mapped 1.75km of intermittent high-grade outcropping manganese.

High-grade manganese at Wandanya

The drilling program was designed to test 240m long x 200m wide target. The program included 35 holes covering 642m of drilling. Initially, six RC holes were sampled for expedited assays.

Data source: Company update

The remaining assay results from the drill program are anticipated in mid-November.

The company noted that manganese mineralisation was identified in the second and last holes along the eastern boundary of the drill pattern. Moreover, the mineralisation remains open to the north, south, and east.

Plans ahead

BCA had collected enough samples to undertake benchtop heavy liquid separation tests aimed at beneficiating lower-grade manganese intervals, The goal is to determine whether a product with 35-40% Mn content can be produced, which is particularly relevant for the mixed Mn/Dolomite breccia zone. Beneficiated ores could serve as high-grade feedstock for smelters producing high purity manganese sulphate (HPMSM) or for manganese alloying.

BCA shares jump

Following the update, BCA shares surged over 14% to trade at AU$0.065 apiece at the time of writing on 8 October 2024.