Black Canyon Limited Unveils High-Grade Manganese Discovery at Wandanya
BCA (BCA) Share Update September 2024 Thursday 26th
Black Canyon Limited Announces High-Grade Manganese Discovery at Wandanya
Australian manganese explorer and developer, Black Canyon Limited (ASX: BCA), has announced a significant discovery of high-grade manganese at its Wandanya project. The discovery, located 80 km south of the Woodie Woodie Mine, showcases impressive grades ranging from 15% to 55% Mn, indicating a promising new exploration model for the company.
Instant Summary:
- High-grade manganese discovered at Wandanya with grades between 15% to 55% Mn.
- The mineralisation is interpreted as fault-related hydrothermal, stratabound manganese enrichment.
- Potential for additional high-grade mineralisation along a 1.75 km strike.
- Expedited laboratory-based manganese assay results expected in the coming weeks.
- Samples collected for density-based beneficiation test work to produce high-grade manganese product.
Discovery Details
Black Canyon Limited (ASX: BCA) has completed its maiden drill program at the W2 prospect within the Wandanya project, revealing high-grade manganese mineralisation. The drilling intersected grades ranging from 15% to 55% Mn, confirmed through portable XRF (pXRF) analysis. This discovery is situated 80 km south of the Woodie Woodie Mine, a well-known manganese mining area.
The mineralisation is interpreted as fault-related hydrothermal, stratabound manganese enrichment, representing a significant new exploration model on the eastern margin of the Oakover Basin. This style of mineralisation expands the scope for additional high-grade discoveries along a 1.75 km strike, down dip within the sedimentary sequence, and potentially along associated feeder faults.
Future Prospects
Expedited laboratory-based manganese assay results for selected representative holes from W2 are expected in the coming weeks to confirm the pXRF results. Additionally, samples have been collected for density-based beneficiation test work to potentially produce a high-grade manganese product.
Black Canyon's Managing Director, Brendan Cummins, expressed excitement about the discovery, noting the consistency of the mineralisation over a 240m strike and its potential for expansion. He highlighted the significance of the geology and initial pXRF results, which indicate a promising future for further exploration using this new mineralisation model.
Geological Insights
The W2 prospect was drilled on an approximate 40 x 40m grid, testing a 240m long x 200m wide target. The drill program comprised 35 holes for 642m of drilling. The pXRF results showed consistent zones of mineralisation, with high-grade intersections potentially suitable for direct shipping (DSO).
The mineralisation is associated with a sedimentary sequence, including footwall dolomite, spotted manganese dolomite, massive manganese, and manganese dolomite breccia. The consistency of the mineralisation down dip and along strike suggests fault-related, hydrothermal stratabound manganese enrichment.
The discovery of high-grade manganese at Wandanya is a significant milestone for Black Canyon Limited. This could positively impact the company's stock price as investors react to the promising exploration results. The potential for additional high-grade mineralisation along the 1.75 km strike could further enhance the company's valuation and attract more investor interest.
Investor Reaction:
Analysts are likely to view this discovery positively, given the high grades and the potential for further exploration success. The consistency of the mineralisation and the upcoming laboratory assay results will be closely monitored by investors. The company's strategic approach to developing this new exploration model will be crucial in maintaining investor confidence.
Conclusion:
Investors should keep an eye on the upcoming laboratory assay results and the company's plans for further exploration at Wandanya. Black Canyon Limited's ability to capitalise on this discovery and expand its high-grade manganese resources will be key to its future success. Stay informed on Black Canyon Limited's developments and consider the potential long-term benefits of this promising discovery.