https://www.miningweekly.com

Canyon hopes to combine Cameroon bauxite projects

10th August 2018

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

Aim- and TSX-V-listed Altus Strategies’ joint venture (JV) partner in Cameroon, ASX-listed Canyon Resources, has been granted three further exploration licences, including for the Minim Martap bauxite project, which is located adjacent to the Birsok project that is subject to a JV between Altus and Canyon.

Under the terms of a previously announced JV, Canyon has the right to earn up to a 75% interest in the Birsok project.

"Altus and Canyon are now in discussions in respect of vending the joint venture into Canyon. As part of our original JV terms, Altus currently owns eight-million shares in Canyon, which had a value of approximately A$1-million as at the close of trading in Canyon's shares prior to their announcement,” Altus CEO Steve Poulton said on Thursday.

Altus staked the strategically located Birsok project and cost-effectively advanced it, spending about $140 000 on exploration.

Canyon has subsequently completed two drill programmes at Birsok, which have successfully confirmed the presence of a number of high-grade bauxite plateau.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.32 0.354s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: