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Black Canyon has secured an option from ASX listed Carawine Resources Limited to acquire a majority interest in the Carawine Project in the East Pilbara region of Western Australia via a farm-in and joint venture agreement. The Carawine Project covers approximately 793 Km² of tenure located south of the operating Woodie-Woodie manganese mine, providing a large footprint in a proven and producing manganese belt. Black Canyon has also applied directly for another exploration license adjacent to the Carawine Project that will increase the total land holdings to over 1400 Km². Manganese has attractive fundamentals with growing utilisation in the battery mineral sector and dwindling supply.
In addition to Carawine, the Company has also agreed to acquire Zephyr Exploration Pty Ltd that has applied for exploration tenure over an area of 206 Km² at the Lofty Range Project located 30 km west from ASX listed Element 25's Butcherbird Manganese Project. Element 25 is currently developing the world class Butcherbird deposit to produce high quality manganese concentrate and High Purity Manganese (HPM) products for traditional and new energy markets.
Both the Carawine Project and Lofty Range Project (subject to grant) are highly prospective for manganese and have similar geological settings to Butcherbird. Black Canyon will look to identify new deposits through exploration and discovery on its project areas. Existing high-quality datasets have shortcut the exploration lead-time and drill ready targets have already been identified based on previous drilling, geophysical surveys and known near-surface manganese occurrences. The cost-effective proposed exploration drill programs will target shallow mineralisation with potential to delineate mineral resources.
In addition to manganese, the Carawine Project also hosts multiple copper occurrences including the Western Star prospect, a large zone of surface copper enrichment identified over an area 500m x 500m by shallow historic workings and exploration costeans. A limited amount of previous drilling at Western Star returned significant copper intersections with no follow-up completed to date.
It is anticipated that BCA will list on the ASX during April 2021.
In addition to Carawine, the Company has also agreed to acquire Zephyr Exploration Pty Ltd that has applied for exploration tenure over an area of 206 Km² at the Lofty Range Project located 30 km west from ASX listed Element 25's Butcherbird Manganese Project. Element 25 is currently developing the world class Butcherbird deposit to produce high quality manganese concentrate and High Purity Manganese (HPM) products for traditional and new energy markets.
Both the Carawine Project and Lofty Range Project (subject to grant) are highly prospective for manganese and have similar geological settings to Butcherbird. Black Canyon will look to identify new deposits through exploration and discovery on its project areas. Existing high-quality datasets have shortcut the exploration lead-time and drill ready targets have already been identified based on previous drilling, geophysical surveys and known near-surface manganese occurrences. The cost-effective proposed exploration drill programs will target shallow mineralisation with potential to delineate mineral resources.
In addition to manganese, the Carawine Project also hosts multiple copper occurrences including the Western Star prospect, a large zone of surface copper enrichment identified over an area 500m x 500m by shallow historic workings and exploration costeans. A limited amount of previous drilling at Western Star returned significant copper intersections with no follow-up completed to date.
It is anticipated that BCA will list on the ASX during April 2021.