PROJECT

Minim Martap Project

Robust long-term project producing some of the highest grade bauxite in the world for an initial 20 years of mining.

Canyon Resources 100% owned Minim Martap Bauxite project is a globally significant direct shipping ore (DSO) project development opportunity. The project is located in central Cameroon and situated near the main rail line linking the region to the Atlantic port of Douala.
Canyon Resources Limited’s Bank Feasibility Study confirms the Minim Martap Bauxite Project as a robust long-term project producing some of the highest grade bauxite in the world for an initial 20 years of mining.

In June 2022, Canyon released a positive BFS for the Minim Martap Bauxite Project. This BFS confirms Minim Martap as a robust long-term project, producing some of the highest grade bauxite in the world for an initial 20 years of mining.

The Project will produce up to 6.4Mt of high-grade bauxite per annum, representing a 28% increase from the PFS.

The high grade Proved Ore Reserve of 108.91Mt averages 51.1% Total Alumina (Al₂O₃) and 2.0% average Total Silica (SiO₂) for the 20 years of operation.

This Reserve is a subset from a Total Mineral Resource (JORC 2012) estimate of 1,027Mt at 45.3% total Al₂O₃ and 2.7% total SiO₂.

Ore Reserve Statement - 2022 BFS

Reserve
Tonnes (mt) oreAluminaSilica
Proven108.9151.1%2.0%

Mineral Resources Statement

Resource (35% Al₂O₃ CoG)
Tonnes (mt) oreAluminaSilica
Total1,027.045.3%2.7%
Measured38247.3%2.7%
Indicated59744.2%2.7%
Inferred4843.2%3.7%
High Grade Resource (45% Al₂O₃ CoG)
Tonnes (mt) oreAluminaSilica
Total48449%2.6%
Measured26849.7%2.6%
Indicated21848.3%2.5%
Inferred1447.3%2.8%

Optimised rolling stock configuration and scheduling has increased rail capacity, substantially reducing OPEX from the PFS phase, and resulting in improved project economics.

The 20-year mining schedule represents only 10.6% of the current Minim Martap Resource and technical studies have identified opportunities for a significant future increase in production tonnages.

Camalco SA is the local Cameroon subsidiary of Canyon Resources, that has 100% ownership of the Minim Martap Project.

About Cameroon

Canyon Resources Ltd is exploring and developing high grade bauxite reserves in Cameroon, a central-west African country between Nigeria and Equatorial Guinea. Cameroon has enjoyed the development of industry and infastructure, particularly agriculture, roads, railways and ports, including a hydo-electric powered aluminium smelter at Edea, utilising imported alumina.

Cameroon has a solid foundation to support a significant mining industry, from fundamental infrastrucutre and mineral deposits, to a highly skilled population with experience in technical vocations, exploration, construction and mining.