Total
0
Shares
Black Canyon (ASX:BCA) - Non Executive Chairman, Graham Ascough
Non Executive Chairman, Graham Ascough
Source: Sunstone Metals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Recently-listed company Black Canyon (BCA) confirms extensive surface manganese mineralisation at the Oakover East tenement
  • Oakover East is part of the WA-based Carawine Project which BCA is earning up to a 75 per cent interest in through an agreement with Carawine Resources
  • In addition to identifying mineralisation, the field work also defined prospective manganese targets which haven’t been adequately drilled
  • Black Canyon plans to follow this up with further exploration to potentially generate new targets
  • Company shares ended the day 1.75 per cent in the red to close at 28 cents

Black Canyon (BCA) has confirmed surface manganese mineralisation at the Oakover East tenement which is part of the Carawine Project in Western Australia.

The company entered a binding heads of agreement with Carawine Resources (CWX) in December last year to earn up to a 75 per cent interest in the project by spending $4 million on exploration within five years.

Black Canyon listed on the ASX in early May and raised $5 million through its initial public offering (IPO) which it’s using for field activities.

This exploration confirmed outcropping zones of manganese and mineralisation along a 1200-metre strike between the SU1 and ZL1 prospects where previous drilling intersected significant intervals.

Best results include 11 metres at 18.8 per cent manganese from 66 metres, six metres at 16.8 per cent manganese from seven metres, and 14 metres at 18.5 per cent manganese from 52 metres including eight metres at 27.8 per cent manganese.

The company also identified widespread surface mineralisation that spans over 500 metres at the TU1 and AP1 prospects.

Executive Director Brendan Cummins said the recent exploration work was successful.

“The recent field trip to Oakover East to review the string of prospects along the Fig Tree Manganese Trend has provided invaluable information on the potential of the prospects for high-grade, hydrothermal style manganese mineralisation.”

Moving forward, the company plans to explore the multiple zones of manganese mineralisation and potentially generate new targets for evaluation and drilling.

Company shares ended the day 1.75 per cent in the red to close at 28 cents.

BCA by the numbers
More From The Market Herald

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.

" Alkane Resources (ASX:ALK) hits further gold at Molong

Alkane Resources (ALK) has received the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales.
The Market Herald Video

" De Grey Mining (ASX:DEG) raises $125m for Mallina

De Grey Mining (DEG) has received firm commitments to raise $125 million for its Mallina Gold Project.