Carawine, Black Canyon super-boost their Flanagan Bore resource by 580%
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The project in Western Australia’s eastern Pilbara region now hosts an Indicated resource of 104Mt grading 10.5% manganese, or 11Mt of contained metal, that includes high-grade zones totalling 33Mt at 12.8% manganese.
This is courtesy of a maiden estimate of 67Mt at 10.4% manganese at the FB3 deposit and a 147% increase in resources at the LR1 deposit to 37Mt at 10.8% manganese based on drilling completed in December 2021.
For the joint venture, the higher confidence Indicated resource highlights significant scale, well defined grade domains and high-grade manganese mineralisation from surface.
It also provides a robust foundation for use in scoping level and potential detailed development studies into the future.
Metallurgical test work continues with the delivery of drill core composites for ore sorting trials at Steinert Global, with results expected in May 2022.
Black Canyon has a 51% interest in Flanagan Bore and is currently earning up to 75% on the tenements that make up the project by sole-funding an additional $2.5m of exploration expenditure.
As it progresses the scoping study, Black Canyon will evaluate the benefits of having immediate access to the high-grade 33Mt at 12.8% manganese resource from surface.
It also plans to drill test other targets that have been identified such as the L1 and TF1 prospects which are along strike to the east of the LR1 deposit, the FB1/FB2 prospect where previous drilling showed a range of widths and manganese grades consistent with those encountered at LR1 and FB3, and the FB5/FB6 prospects.
As for Carawine, they are currently subject to a takeover bid by their largest shareholder, QGold Pty Ltd. Carawine is currently in a trading halt as it prepares to release results from its Big Freeze prospect at its Tropicana North Projects in WA’s Goldfields.
This article was developed in collaboration with Carawine Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.