Thickest. Manganese. Ever: Black Canyon strikes big at Carawine Resources JV
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Drilling by Carawine Resource’s (ASX:CWX) Flanagan Bore partner Black Canyon has returned some of the thickest manganese intervals ever recorded at the main LR1 deposit.
Results such as 40m grading 13.4% manganese from surface including 11m at 20.4% manganese from a depth of 10m (FBRC018) and 47m at 10.6% manganese from 10m including 10m at 14.5% manganese from 13m (FBRC001) were returned from thick zones of manganese enriched shale to the southwest of the LR1 resource.
This successful extensional drilling means that these shales now extend by about 400m to 600m southwest from previous drill holes at LR1 and pave the way for an upgrade to current LR1 resources of 15 million tonnes at 11.3% manganese.
Black Canyon (ASX:BCA) add that it is continuing scoping study activities with the start of metallurgical testwork on diamond drill core from LR1 and the engagement of key consultants.
Black Canyon has satisfied the minimum obligation condition for the joint venture agreement which requires the expenditure of $750,000 and is now proceeding to earn a 51% interest in the project tenements by spending the balance of $1.5m.
Under the farm-in and JV agreement, Black Canyon can earn up to a 75% interest in the Carawine Project tenements, which includes Flanagan Bore.
To date, Black Canyon has completed 168 reverse circulation holes totalling 5,569m and 13 diamond holes totalling 477m.
However, assays have only been received for the first 20 holes from the LR1 deposit area.
With the latest results, the mineralised footprint at LR1 is now 1100m long and up to 800m wide.
This remains open to the east and west with more assays pending and infill drilling planned.
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.