Announcement • Sep 19
Black Canyon Limited, Annual General Meeting, Nov 18, 2025 Black Canyon Limited, Annual General Meeting, Nov 18, 2025. Announcement • Sep 05
Black Canyon Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Black Canyon Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,809,524
Price\Range: AUD 0.42
Discount Per Security: AUD 0.0252
Transaction Features: Subsequent Direct Listing Announcement • Jun 12
Black Canyon Limited (ASX:BCA) entered into a binding Share Sale Agreement to acquire Ndalamo Platinum Pty Ltd for AUD 0.16 million. Black Canyon Limited (ASX:BCA) entered into a binding Share Sale Agreement to acquire Ndalamo Platinum Pty Ltd for AUD 0.16 million on June 12, 2025. Transaction is subject to Completion of a 21-day due diligence period from execution of the agreement and The grant of tenements ELA46/1571 & ELA46/1572 by November 30, 2025. New Risk • May 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Revenue is less than US$1m (AU$559k revenue, or US$361k). Market cap is less than US$10m (AU$7.78m market cap, or US$5.03m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Apr 03
Black Canyon Limited Announces Chief Financial Officer Changes Black Canyon Limited announced the appointment of Ms Rebecca Broughton as Chief Financial Officer of the Company, effective 3 April 2025. Ms Broughton is an experienced Company Secretary and Chartered Accountant, with expertise and skills in compliance, corporate governance and finance functions of companies within Australia. Ms Broughton holds a Bachelor of Commerce and is currently Company Secretary of ASX listed MetalsGrove Mining Limited. Ms Broughton replaces Mr. Jay Stephenson as Chief Financial Officer. Mr. Stephenson has been with the Company since its listing on the Australian Securities Exchange. For the purpose of ASX Listing Rule 12.6, Ms Broughton will be the person responsible for communications with the ASX in relation to ASX Listing Rule matters from 3 April 2025. Announcement • Apr 01
Black Canyon Limited Provides Wandanya Manganese and Iron Drilling Exploration Update Black Canyon Limited provided Wandanya Manganese and Iron Drilling Exploration Update. Phase Two Reverse Circulation (RC) drilling is planned for late May/early June at the Wandanya manganese and iron targets with the program of work (PoW) approval secured from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS). The Wandanya discovery represents a new exploration model on the eastern margin of the Oakover Basin comprising hydrothermal, stratabound manganese and iron. The planned RC drill program will test 900m of strike and 200-300m across strike following up previously announced manganese results1 including: 5m @ 31.1% Mn from surface, including 2m @ 42% Mn (WDRC005) o 7m @ 26.3% Mn from 2m, including 3m @ 38.2% Mn (WDRC013) o 6m @ 26.3% Mun from 4m, including 3m @ 40.1% Mn (WDRC021) o 6m @ 29.6% Mn from surface, including 3m @ 41.0% Mn (WDRC031) o 5m @ 32.4% Mn from 3m, including 3m at 40.1% Mun (WDRC033). The planned RC program will also substantially test outcropping iron formations that returned high grade assay results including: 64.3%, 62.4%, 58.8%, 58.6%, 63.3%, 63.1 and 57.6% Fe2. This was followed up with further mapping and rock chip sampling with the results defining a very large mineralised system at Wandanya for both manganese and iron. "For the manganese target only, 240m of mapped 3km strike was drill tested in September 2024, and the company planning to test a further 900m of strike and at least 200-400m of cross-strike as the drill test the shallow down dip extensions of the stratabound manganese horizon. The iron horizon has never been drill tested so the plan to drill about 800m of strike along the ridge and then across strike some 200-300m. Based on mapping, the manganese and iron targets remain open to the north for a further 800m with a combined cross strike width of between 400 and 600m, which the company plan to drill in the Phase 3 RC program. The Company is planning to drill between 2,000 and 3,000m of RC along strike and down dip of the Wandanya iron and manganese targets. In the southern area, east of the drilled W2 prospect, the plan to is drill down dip and to the east extending the known mineralisation up to 200m from the Phase 1 drilling completed in September 2024. To the north, no drilling has been completed to date and a total of about 900m of strike will be drill testing the stratabound Manganese target with the southern 500m area drilled using 100m lines spacings and stepping out to 350m on the most northern line. The most northern E-W drill traverse to be tested in Phase 2 is 850m long and will enable a drill section to be completed from the iron rich outcrops on the ridge to the manganese outcrops down dip and to the east. Further RC drilling (Phase 3) will be planned so the combined drill programs will have tested the full 3km strike potential of the outcropping manganese and iron targets and cross strike width between 600m and 900m. New Risk • Mar 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (AU$605k revenue, or US$380k). Market cap is less than US$10m (AU$7.21m market cap, or US$4.53m). New Risk • Jan 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 42% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (AU$513k revenue, or US$323k). Market cap is less than US$10m (AU$7.11m market cap, or US$4.47m). Board Change • Dec 31
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. No independent directors (4 non-independent directors). Non-Executive Director Simon Taylor was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Dec 24
Black Canyon Limited has completed a Follow-on Equity Offering in the amount of AUD 2.526 million. Black Canyon Limited has completed a Follow-on Equity Offering in the amount of AUD 2.526 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,500,000
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,433,333
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,166,667
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Transaction Features: Subsequent Direct Listing Announcement • Oct 14
Black Canyon Limited has completed a Follow-on Equity Offering in the amount of AUD 0.03 million. Black Canyon Limited has completed a Follow-on Equity Offering in the amount of AUD 0.03 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 428,571
Price\Range: AUD 0.07 Announcement • Oct 11
Black Canyon Limited, Annual General Meeting, Nov 28, 2024 Black Canyon Limited, Annual General Meeting, Nov 28, 2024. New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (AU$41k revenue, or US$28k). Market cap is less than US$10m (AU$5.56m market cap, or US$3.84m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). Reported Earnings • Mar 18
First half 2024 earnings released: AU$0.006 loss per share (vs AU$0.02 loss in 1H 2023) First half 2024 results: AU$0.006 loss per share (improved from AU$0.02 loss in 1H 2023). Net loss: AU$495.7k (loss narrowed 52% from 1H 2023). Board Change • Feb 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. No independent directors (4 non-independent directors). Non-Executive Director Simon Taylor was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Jan 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.6m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 54% per year over the past 5 years. Revenue is less than US$1m (AU$41k revenue, or US$27k). Market cap is less than US$10m (AU$7.72m market cap, or US$5.07m). Minor Risk Shareholders have been diluted in the past year (36% increase in shares outstanding). Announcement • Oct 27
Black Canyon Limited, Annual General Meeting, Nov 27, 2023 Black Canyon Limited, Annual General Meeting, Nov 27, 2023, at 13:00 W. Australia Standard Time. Location: 283 Rokeby Road Subiaco Western Australia Australia Agenda: To consider adoption of remuneration report; re-election of director Graham Ascough; approval of 7.1a mandate; issue of performance rights to related party Brendan Cummins; and to discuss other matters. Reported Earnings • Sep 30
Full year 2023 earnings released: AU$0.039 loss per share (vs AU$0.029 loss in FY 2022) Full year 2023 results: AU$0.039 loss per share (further deteriorated from AU$0.029 loss in FY 2022). Net loss: AU$2.02m (loss widened 67% from FY 2022). New Risk • Jul 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.4m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 60% per year over the past 5 years. Revenue is less than US$1m (AU$22k revenue, or US$15k). Market cap is less than US$10m (AU$8.93m market cap, or US$5.94m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). New Risk • Jul 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.4m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 60% per year over the past 5 years. Revenue is less than US$1m (AU$22k revenue, or US$15k). Market cap is less than US$10m (AU$10.3m market cap, or US$6.99m). Announcement • Jun 14
Black Canyon Limited (ASX:BCA) completed the acquisition of E46/1383 from Access Australia Mining Pty Ltd. Black Canyon Limited (ASX:BCA) entered into a binding Tenement Sale Agreement to acquire E46/1383 from Access Australia Mining Pty Ltd for AUD 0.5 million on March 27, 2023. Under the consideration, Black Canyon will issue AUD 0.2 million worth of Shares at settlement, with the number of BCA Shares issued based on the 20 day VWAP of BCA Shares before the Execution Date; and AUD 0.3 million worth of Deferred Consideration Shares upon estimation of a JORC compliant Mineral Resources from E46/1383 equal to, or greater than 50Mt grading at least 10% Mn (Milestone). The number of BCA Shares to be issued on achievement of the Milestone will be based on the 20 day VWAP of BCA Shares before the ASX announcement is released reporting the Milestone has been met. AAM will retain the rights to explore for and mine any copper mineralization on the tenements under a Mineral Rights Deed that has been executed by Black Canyon and AAM.
Black Canyon Limited (ASX:BCA) completed the acquisition of E46/1383 from Access Australia Mining Pty Ltd on June 14, 2023. Reported Earnings • Mar 16
First half 2023 earnings released: AU$0.02 loss per share (vs AU$0.01 loss in 1H 2022) First half 2023 results: AU$0.02 loss per share (further deteriorated from AU$0.01 loss in 1H 2022). Net loss: AU$1.02m (loss widened 140% from 1H 2022). Announcement • Dec 07
Black Canyon Limited Announces Initial Manganese Sulphate Crystallisation Test-Work Black Canyon Limited announced initial manganese sulphate crystallisation test-work has delivered highly promising results, producing manganese sulphate with 32.3% Mn content which is equivalent to greater than 99% Mn purity. The success of the crystallisation continues from the leaching test-work which demonstrated up to 91% extraction from manganese oxide ores from the Flanagan Bore project. The manganese sulphate results bolsters the company's strategy to produce HPMSM, commencing with this initial leach and crystallisation test-work which are complementary to the co-development of manganese concentrates for the alloying and steel manufacturing industry. The HPMSM strategy will now be further advanced with more detailed Scoping Level leaching, purification and crystallisation test-work to produce potential battery grade manganese sulphate over the coming months. Leaching and Crystallisation Testwork Objective: The objective of the initial test-work was to establish the leaching amenability of manganese oxide ores using industry standard chemical and physical parameters to determine extraction kinetics based on feedstock particle size, slurry density and SO2 concentration. The manganese-rich solution was then crystallised and analysed and has demonstrated that a high-grade manganese sulphate product can be produced. The testwork has also assisted the company's understanding of potential elemental impurities such as iron, aluminium, calcium, potassium and base metals which will be removed as part of a purification phase. The learnings from the initial leach and crystallization tests can now be applied to further ongoing detailed leaching, purification and crystallisation test-work to support the HPMSM Scoping Study. The company is advancing this second stage of a hydrometallurgical test-work program with the preparation of additional manganese oxide materials from the LR1 and FB3 deposits at Flanagan Bore. Manganese Sulphate Crystallisation Test-work: A global manganese oxide composite was tested from across the LR1 and FB3 deposits from the Flanagan Bore Project. The initial leach tests were undertaken on fines of manganese concentrate composites produced from previous beneficiation test-work. A concentrated pregnant leachate solution (PLS) derived from the fore mentioned leaching test-work was neutralised, filtered and treated to remove excess calcium. The resulting manganese enriched filtrate was evaporated and the crystals recovered, dried and analysed. Chemical analysis of the recovered manganese sulphate crystals reported a Mn grade at 32.3% which is equivalent to a manganese sulphate purity of >99%. A second stage test-work program is well advanced and will investigate additional manganese sulphate solution purification to remove other impurities and production options to support the HPMSM Scoping Study currently underway. Announcement • Nov 22
Black Canyon Limited Announces Mining Lease Application Submitted for Flanagan Bore Black Canyon Limited announced the submission of a Mining Lease application, and in parallel mark the commencement of the mine approval process while providing an update on Feasibility Study related activities. Flanagan Bore is part of the Company's Carawine JV and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. Having earned a 51% interest, Black Canyon is now earning up to 75% in the Carawine Project tenements by sole-funding an additional $2.5 million of exploration expenditure. The Flanagan Bore Project is located approximately 400 km southeast of Port Hedland in the east Pilbara region of Western Australia Black Canyon and JV partner Carawine Resources have submitted an application for a Mining Lease (MLA46/546) over the Flanagan Bore manganese deposits that include FB3 and LR1 and also extending over the recent discoveries at L1 and TF1. The application comprises 1,756 Ha to ensure sufficient area is under tenure to locate the open pits, stockpiles, tails storage facility and build site infrastructure includingroads, accommodation village, process plant, laydowns, offices and solar array. Miscellaneous licenses will be lodged at the appropriate time to cover the mine access road, construction borrow pits and planned production water bore locations and supporting power and pipelines. A total of 4 composites have been selected from 1.4t of PQ diamond core (whole core) from 10 drillholes drilled in December 2021 in preparation for more detailed metallurgical testwork. This program will advance the findings from the initial sighter level testwork undertaken for the Scoping Study that examined both ore sorting and density separation techniques. It was concluded in the Scoping Study that density-based techniques offered a more robust and reliable processing route for the beneficiation of manganese enriched shales. The drill core has been examined and composited into an LR1 upper, LR1 lower, FB3 and FB3 lower grade domains to examine variability in mineralisation style and grade across the various orebodies. The program of work planned includes comminution, scrubbing/screening, benchtop dense media assessments using heavy liquid separation and mineralogy. An area of focus is understanding the intensity of scrubbing and washing which from past testwork was able to significantly and cheaply upgrade manganese content with the removal of clay/shale and some of the iron oxides. The high grade nature of the outcropping Flanagan Bore deposits supports a higher feed-grade which can be significantly upgraded with simple scrubbing and washing. This is a cost effective means of removing barren mass allowing density separation techniques to provide the final beneficiated grade increase. A total of nine exploration holes were drilled approximately 4 to 5 km from the proposed ore processing facility located to the west of the FB3 deposit. The area was targeted based on a review of the region to discover aquifers of sufficient size and recharge with adequate quality suitable for processing requirements. The holes were drilled into structurally dislocated carbonates units with five holes showing positive water supply indications. As anticipated a number of field water quality tests showed the water has low salinity and acceptable pH range. A number of the bore holes were converted to long term monitoring bores for the gathering of baseline data and will also enable future sampling for sub-terranean fauna for environmental impact studies. Based on the encouraging results to date further hydrological drilling will be undertaken to delineate the aquifer potential of the carbonate units that will enable modelling to understand recharge and long term sustainability of supply. In preparation for the baseline and approval information required by the environmental regulators Black Canyon has engaged Preston Consulting to provide advice on project approval pathway and management of key consultants. The Company has also now directly engaged a number of primary consultants who specialise in the design and implementation of studies across the disciplines of flora/vegetation, fauna (subterranean and terranean) hydrology and social surroundings. To date desktop and field based environmental studies have been initiated with more detailed field surveys planned after the wet season. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. No independent directors (4 non-independent directors). Non-Executive Director Simon Taylor was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 27
Black Canyon Limited Announces the Results from the Recent Reverse Circulation Drill Program at the Flanagan Bore Manganese Project Black Canyon Limited announced the results from the recent reverse circulation (RC) drill program at the Flanagan Bore Manganese Project. Systematic drilling along a 2,000m long target located between the FB3 and LR1 deposits discovered significant zones of manganese mineralisation. The higher-grade manganese enriched shale mineralisation shows similar key characteristics to the FB3 and LR1 deposits with strong grade and geological continuity. With receipt of these latest drill results, there is high potential to expand the global Mineral Resource Estimate (MRE) at Flanagan Bore beyond the current 104Mt @ 10.5% Mn (Indicated) containing 11Mt of manganese. A total of 181 holes for 7,534m of RC drilling was completed at Flanagan Bore during May/June 2022. Along the L1 and TF1 mineralised trend, the majority of the drill lines were spaced 200m apart using angled drill holes located on 25 or 50m centres to obtain complete drill section coverage. Whilst at FB3 and LR1, the overall drill spacing has been reduced to a 100m x 100m grid pattern. All of the assay results have now been received and compiled from the LR1 and FB3 deposits, along the L1 to TF1 trend and from the FB2 and FB6 prospects. A summary of the significant results and collar details for the drill program completed at Flanagan Bore are presented. Manganese enriched shale has now been delineated from surface along the L1 to TF1 trend extending over 2,000m of strike with a cross width currently defined ranging between 90 to 130m. Similar to FB3 and LR1 the manganese enriched beds are shallowly dipping and remain open to the southeast. The continuity of the manganese enriched mineralisation will extend the MRE from FB3 along strike to the southwest. Deeper drilling completed as part of this infill phase has yielded much thicker intervals of mineralisation than previously encountered, which has the potential to further expand the FB3 Mineral Resource Estimate and grow the global mineral resources at Flanagan Bore. Announcement • Oct 22
Black Canyon Limited, Annual General Meeting, Nov 24, 2022 Black Canyon Limited, Annual General Meeting, Nov 24, 2022, at 13:00 W. Australia Standard Time. Location: 283 Rokeby Road Subiaco Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2022 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to consider the adoption of the Remuneration Report; to consider the re-election of Director-Mr Simon Taylor; to consider the issue of performance rights to related party brendan cummins; to consider approval of 7.1a mandate; and to consider other matters. Announcement • Oct 11
Black Canyon Announces Successful Manganese Extraction from Initial Leaching Tests Black Canyon Limited (Black Canyon or the Company) announced initial leaching test work has delivered highly promising results, achieving up to 91% Manganese (Mn) leach extraction. The success of the leaching test work builds upon the completion of the positive Scoping Study on the Flanagan Bore development project, which examined producing manganese concentrate primarily for the steel market. The Company has a parallel strategy to produce HPMSM, commencing with this initial leach and crystallization test work. This will be followed with more detailed Scoping Level leaching, purification and crystallisation of potential battery grade manganese sulphate over the coming months. Flanagan Bore is part of the Company's Carawine JV and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. Having earned a 51% interest, Black Canyon is now earning up to 75% in the Carawine Project tenements by sole-funding an additional $2.5 million of exploration expenditure. The Flanagan Bore Project is located approximately 400 km southeast of Port Hedland in the east Pilbara region of Western Australia. The objective of the initial testwork was to establish the leaching amenability of manganese oxide ores using fairly standard chemical and physical parameters to determine extraction kinetics based on feedstock particle size, slurry density and SO2 concentration. The manganese-rich solution will also be crystallised and analysed in order to further understand the overall Mn purity and contaminant levels. The learnings from the initial leach and crystallisation tests can then be applied to further ongoing detailed leaching, purification and crystallisation testwork to support a HPMSM Scoping Study. The Company has commenced this second stage of a hydrometallurgical testwork program with the preparation of suitable manganese oxide materials from LR1 and FB3. Reported Earnings • Oct 01
Full year 2022 earnings released: AU$0.029 loss per share (vs AU$0.062 loss in FY 2021) Full year 2022 results: AU$0.029 loss per share. Net loss: AU$1.21m (loss widened 44% from FY 2021). Announcement • Sep 28
Black Canyon Limited to Report Q2, 2022 Results on Nov 14, 2022 Black Canyon Limited announced that they will report Q2, 2022 results on Nov 14, 2022 Announcement • Sep 16
Black Canyon Limited Announces Thick Intervals of Manganese Enriched Shale Intersected At the Fb3 Deposit Flanagan Bore Black Canyon Limited announced the results of recent reverse circulation (RC) drilling at the FB3 deposit during May and June 2022. The results continue to deliver even thicker zones of higher grade manganese enriched shale that have the potential to expand the FB3 Mineral Resource Estimate (MRE) and grow the global mineral resources at Flanagan Bore beyond the current 104Mt @ 10.5% Mn (Indicated) containing 11Mt of manganese. Located 120km north-east of Newman, Flanagan Bore is part of the Company's Carawine JV and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. Having earned a 51% interest, Black Canyon is now earning up to 75% in the Carawine Project tenements by sole-funding an additional $2.5m of exploration expenditure. As a result of the recently completed RC drill program (181 holes for 7,534m), the overall drill spacing at FB3 and LR1 has been reduced from 200m spaced lines and 100m centred holes to 100m spaced lines and 100m centred holes. Significantly, the doubling of the drill density should enable the current Indicated classified Mineral Resources to be upgraded to Measured, which is suitable for detailed feasibility and associated mining and processing studies. To date, the Company has received and compiled the assay results from the LR1 and FB3 deposit area only, with further results due from the westerly extension of FB3 along the L1 to TF1 trend, which are expected in late September. A summary of the significant results from FB3 is provided below and collar details for the drill program completed at Flanagan Bore are presented in Appendix 1. FB3 Infill Mineral Resource Assay Results Manganese enriched shale has now been delineated from surface at the FB3 deposit extending over an area of 1200m x 1000m. The assays received from the May/June 2022 RC drill program completed at FB3 have confirmed the folded nature of the shales and manganese mineralisation that is plunging shallowly to the southwest. Deeper drilling completed as part this infill phase have yielded much thicker intervals of mineralisation than previously encountered, which has the potential to expand the FB3 Mineral Resource Estimate and grow the global mineral resources at Flanagan Bore. Announcement • Sep 07
Black Canyon Limited Announces the Results of Recent RC Drilling at the LR1 Deposit Black Canyon Limited announced the results of recent RC drilling at the LR1 deposit during May and June 2022. The results continue to deliver thick zones of manganese enriched shale that have the potential to expand the LR1 Mineral Resource Estimate and grow the global mineral resources at Flanagan Bore beyond the current 104Mt @ 10.5% Mn (Indicated) containing 11Mt of manganese. Located 120km north-east of Newman, Flanagan Bore is part of the Company's Carawine JV and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. Having earned a 51%interest, Black Canyon is now earning up to 75% in the Carawine Project tenements by sole-funding an additional $2.5 million of exploration expenditure. As a result of the recently completed RC drill program (181 holes for 7,534m), the overall drill spacing at FB3 and LR1 has been reduced from 200m spaced lines and 100m centred holes to 100m spaced lines and 100m centred holes. Significantly, the doubling of the drill density should enable the current Indicated classified Mineral Resources to be upgraded to Measured, which is suitable for detailed feasibility and associated mining and processing studies. To date, the Company has received and compiled the assay results from the LR1 deposit area only, with further results due from FB3 and the discovery drilling completed between the LR1 and FB3 deposits expected in late September 2022. LR1 Infill Mineral Resource Assay Results: A 1200m x 800m zone of manganese enriched shale has now been delineated from surface at the LR1 deposit. The assays received from the May/June 2022 RC drill program completed at LR1 have closed off mineralisation to the east where it appears to have been offset to the NE by a north trending fault, however the deposit remains open to the west. Deeper drilling completed by as part of this infill phase has yielded thicker intervals of mineralisation than previously encountered, which has the potential to expand the LR1 Mineral Resource Estimate and grow the global mineral resources at Flanagan Bore. 46m @ 11.9% Mn & 9.2% Fe from 1m including (FBRC199) - 13m @ 14.8% Mn & 11.7% Fe from 13m. 44m @ 11.1% Mn & 8.5% Fe from surface including (FBRC188) - 9m @ 15.9% Mn & 10.5% Fe from 8m. o 34m @ 13.1% Mn & 8.7% Fe from 2m including (FBRC170) - 19m @ 14.9% Mn and 9.5% Fe from 7m; 29m @ 14.8% Mn & 9% Fe from surface (FBRC197); 20m @ 15.4% Mn & 9.5% Fe from 15m (FBRC200); 17m @ 15.1% Mn & 10.1% Fe from 0m (FBRC196) and 30m @ 12.7% Mn & 9.2% Fe from 0m until EOH (FBRC208. Announcement • Jul 13
Black Canyon Limited Completes Flanagan Bore Mineral Resource Infill and Extension Drilling Black Canyon Limited announced it has completed drilling 7,534m of RC drilling as part of an infill and extensional drilling program across the previously announced Mineral Resource at Flanagan Bore comprising 104Mt @ 10.5% Mn (Indicated) containing 11Mt of manganese. The infill drill program was designed to focus on an outcropping high-grade manganese subset of the Mineral Resource estimate, comprising 33Mt @ 12.8% Mn across the FB3 and LR1 deposits. The drill program also evaluated the potential of the strike between FB3 and LR1 deposits and yielded promising results as additional shale enriched manganese mineralisation was intersected. Assays are pending. Flanagan Bore is part of the Company's Carawine JV and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. Having earned a 51% interest, Black Canyon is now earning up to 75% in the Carawine Project tenements by sole-funding an additional $2.5 million of exploration expenditure. The Flanagan Bore Project is located approximately 400 km southeast of Port Hedland in the east Pilbara region of Western Australia. As a result of the completed RC drill program (181 holes for 7,534m), the overall drill spacing at FB3 and LR1 has been reduced from 200m spaced lines and 100m centred holes to 100m spaced lines and 100m centred holes. Significantly, the doubling of the drill density should enable the current Indicated classified Mineral Resources to be upgraded to Measured, which is suitable for detailed feasibility and associated mining and processing studies. No further mineral resource drilling is required once Measured Mineral Resources have been estimated. In addition, all of the project drill collars have now been located using highly accurate differential global positioning system (DGPS) and the December 2021 drill holes have also been down-hole surveyed for density, gamma and magnetic susceptibility. The down-hole data will be used with more detailed geological domaining and interpretation. Three additional manganese-enriched shale targets were also successfully drilled along 2km of strike connecting the FB3 and LR1 deposits, and mineralisation was confirmed at the FB2 and FB6 prospects. Announcement • Jun 10
Black Canyon Limited Announces Initial Metallurgical Test Work of Flanagan Bore Manganese Project Black Canyon Limited announced that initial metallurgical test work of Flanagan Bore Manganese Project has delivered highly promising results, achieving concentrate grades of more than 30% Mn. A total of three composite samples (PQ3) were tested from across the LR1 and FB3 deposits where a higher-grade subset of the Mineral Resource Estimate comprising 33Mt @ 12.8% Mn (Indicated). Preliminary discussions with commodity marketing specialists indicate that manganese concentrates with similar key characteristics to the potential ore processed at Flanagan Bore would be suitable for silico or ferro manganese alloying as feedstocks into the steel manufacturing industry. Further engagement with a number of commodity traders and other interested parties will continue as the company refines it flowsheet to deliver a saleable manganese product. Highlights: Initial testing completed on three composite samples (two from the LR01 deposit and one from the FB03 deposit) achieves grades in excess of 30% Mn during early-stage sighter level work, Significant manganese grade uplifts from feed grades of 11.7% and 13.7% Mn upgraded to approximately 19% and 26% Mn through scrubbing and washing - an important first step for beneficiation. Further beneficiation tests on the scrubbed/washed manganese feed material result in additional manganese grade improvements: Heavy Liquid Separation (HLS) (used to simulate dense media separation (DMS)) achieved grades up to 35.5% Mn from the FB03 composite sample; Ore sorting achieved grades of up to 31.3% Mn from the FB03 composite sample, These results are considered highly promising given the early stage of the test work, the company will now leverage of the learnings from these initial results and plan a comprehensive metallurgical program to further optimize and improve manganese grade with the goal of designing a robust flowsheet capable of delivering a consistent saleable manganese concentrate, preliminary discussions with marketing specialists indicate manganese concentrates with key characteristics similar to ore from Flanagan Bore would be suitable for silico or ferro manganese alloying as feedstocks into the steel manufacturing industry, initial manganese concentrate leaching test work to be undertaken as part of an overall strategy to add value through downstream processing to potentially produce high-purity manganese sulphate for the growing electric vehicle battery market. Scrubbing and Washing: as an important first stage of the beneficiation process, selected intervals from the drill core samples were composited and thoroughly combined. A total of three samples were generated based on deposit location and observed textural differences in manganese band thickness and shale content as logged from drill core. At LR1 upper (thinly banded manganese) and lower (thickly banded manganese) composites were generated, whilst at FB3 one composite was created from moderately banded manganese. The three 50kg samples were crushed to 50mm, then scrubbed and washed for 7.5 minutes. The results show a distinct upgrade in manganese content through straightforward first stage crushing, scrubbing and washing to remove a high portion of the clay and shale mass. The manganese is also shown to be relatively coarse in size with higher percentages of recovered manganese reporting to the coarser fractions. The finer fractions contain minor low-grade manganese. Heavy Liquid Separation (HLS): Heavy liquid separation analysis was used to approximate DMS. The tests show the highest upgrade is from LR1 upper, which typically has thinner manganese bands when compared to the LR1 lower and FB3 samples. Based on the liberation characteristics achieved in the -8+1mm fraction, the various composites were further crushed to -4mm+1mm and submitted for HLS using a slightly higher liquid density. The aim of this test was to determine if a finer crush would assist manganese particle liberation and therefore improve manganese grade. The results show a finer crush is able to produce a higher grade manganese concentrate. This could be further enhanced with additional test work focusing on understanding the liberation of manganese from the gangue materials and thickness of the manganese bands across the orebody. The overall manganese upgrades and consistency achieved across all three composites at the two crushed size fractions indicate that dense media separation as a beneficiation technique has considerable merit with further detailed test work warranted. Ore Sorting: Black Canyon submitted a scrubbed/washed coarse grained fraction comprising material from the plus 18mm size fraction from each LR1 Upper, LR1 Lower and FB3 composites to Steinert in Perth for ore sorting test work. Prior to running the samples through the ore sorter, the material was characterized by Steinert to identify a sorting algorithm based on three sensor types - color, shape and density for each composite submitted. A coarser size fraction was selected on the basis that the Company was submitting relatively small 20kg samples through a full scale ore sorter at the Steinert facility and a coarser feed was likely to replicate how the equipment may be utilized once in a production environment. A -18mm fraction was also submitted, but as expected, there was no appreciable manganese upgrade in this smaller size fraction based on the small sample size and size/capacity of the ore sorter equipment. The overall achieved grades are presented in Table 3. The testwork has shown that when ore sorting is applied to coarser manganese enriched samples, significant upgrades can be achieved. The best result was from the FB3 composite that through the process has shown a 128% increase in manganese content from an in-ground feed of 13.7% Mn to a beneficiated grade of 31.3% Mn showing incremental upgrades across each process stage. The testwork has shown that ore sorting would be more effective when applied to the thicker banded manganese ores and this style of beneficiation may deliver higher manganese grades. As part of flow sheet development, the Company will continue to investigate the application of ore sorting using larger sample sizes (several tonnes). If successful, ore sorting would be a cost effective method of enhancing manganese grade through potentially a scalping circuit removing low grade or waste prior to additional beneficiation techniques such as DMS. Announcement • May 24
Black Canyon Limited Announces That Flanagan Bore Infill and Extension Drilling Commenced Black Canyon Limited announced it has commenced a large infill and extensional RC drill program across the previously announced Mineral Resource at Flanagan Bore comprising 104Mt @ 10.5% Mn (Indicated) containing 11Mt of manganese. Highlights: A 7,500m reverse circulation (RC) drilling program has commenced at Flanagan Bore to infill and extend the existing Indicated Mineral Resource of 104Mt @ 10.5% (11Mt of contained manganese) at the FB3 and LR1 deposits; The infill drilling will target high-grade zones identified across the FB3 and LR1 deposits totalling 33Mt @ 12.8% Mn to upgrade the Mineral Resource from Indicated to Measured; Extension drilling will be undertaken to delineate potential additional shale enriched manganese tonnage located along strike between the FB3 and LR1 deposits; The Mineral Resource classification upgrade will provide a high level of confidence required to commence more detailed development studies planned for the Project; Metallurgical test work continues with initial results expected in June as the Company awaits assay results and compilation of the test work data. The infill drill program is designed to focus on an outcropping high-grade manganese subset of the Mineral Resource estimate comprising 33Mt @ 12.8% Mn across the FB3 and LR1 deposits. The overall drill spacing will be reduced from 200m spaced lines and 100m centred holes to 100m spaced lines and 100m centred holes. Significantly, the doubling of the drill density should enable the current Indicated classified Mineral Resources to be upgraded to Measured, which is suitable for detailed feasibility and associated mining and processing studies. The objectives of the scoping level sighter test work completed by BCA is to establish early stage material characteristics, scrubbing and sizing analysis, variability, recoveries, potential flowsheet design options (Ore-sorting and/or Dense Media Separation (DMS)) and product marketability. A more comprehensive metallurgical test work from FB3 and LR1 mineralisation styles is planned once the results of this initial program have been reviewed. The manganese mineralisation at Flanagan Bore related to the LR1 and FB3 deposits is associated with a regional northeast trending open synclinal fold. Additional manganese-enriched shale units have been identified along the limbs that have not been systematically drill tested. The fold appears to be semi-continuous along 10 km of strike from LR1 to FB3 and associated fold limbs to FB5 and FB6. Additional targets that the Company plan to drill as part of the current RC drill program are summarised below: L1 and TF1 Prospects: located along strike to the east of the LR1 deposit and extending to FB3, the L1 and TF prospects have four historical drillholes and more recently four holes the Company completed in the December 2021 drill program. The results have been encouraging and similar to those already drilled into LR1 and FB3, however there remains 2,000m of strike that requires more systematic drill testing. A total of 11 lines spaced 200m apart are planned to be drilled along this target zone. FB2 Prospect: located south of the FB1 prospect and has never previously been drill tested. Manganese enriched shales outcrop and form a low rise above the predominantly shallow cover sequence. Mineralisation appears to be related to folded manganese shales with thicker, more prominent bands of manganese-enriched shale forming topographic rises. The structural complexity at FB2 may be responsible for enhancing the manganese grade that will be evaluated. FB5/FB6 Prospects: A single line of RC drilling was completed at FB5 targeting outcropping and sub-cropping manganese-enriched shale (ASX Announcement 23 March 2022). The drillholes confirmed the northwest dipping manganese enriched shale with a cross strike width of at least 400m intersected. The drilling completed at FB5 has only tested a small section of the 5km long zone of mapped manganese mineralisation that extends to the southwest towards the FB6 prospect. On this basis, the FB6 target area will be drilled with a single line of drill holes to confirm manganese enrichment. The Company is looking forward to drill testing these targets to improve the tonnage potential and understanding at Flanagan Bore. Announcement • May 16
Black Canyon Limited, Annual General Meeting, Jun 17, 2022 Black Canyon Limited, Annual General Meeting, Jun 17, 2022, at 11:00 W. Australia Standard Time. Location: 283 Rokeby Road Subiaco Western Australia 6151 Australia Agenda: To consider ratification of Tranche 1 of Placement Listing Rule 7.1; to consider ratification of Tranche 1 of Placement Listing Rule 7.1A; to consider approval to Issue Shares for Tranche 2 of Placement; to consider approval for Director to Participate in Placement Brendan Cummins; to consider approval for Director to Participate in Placement Graham Ascough; to consider approval for Director to Participate in Placement Simon Taylor; to consider approval for Director to Participate in Placement Adrian Hill; and to consider amendment to Constitution. Board Change • Apr 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. No independent directors (4 non-independent directors). Non-Executive Director Simon Taylor was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 13
Black Canyon Limited Announces Significant Increase in the Mineral Resource Tonnage and Contained Manganese at its Flanagan Bore Project in the Eastern Pilbara Region of Western Australia Black Canyon Limited announced a significant increase in the Mineral Resource tonnage and contained manganese at its Flanagan Bore Project in the eastern Pilbara region of Western Australia. The previous Mineral Resource at the FB1 deposit at Flanagan Bore comprised 15Mt @ 11.3% Mn (Inferred) has been significantly expanded and upgraded to 104 Mt @ 10.5% Mn (Indicated) containing 11 Mt of manganese. This represents an substantial increase of 89 Mt of total tonnage and 9 Mt of contained manganese from the previous Mineral Resource or a 580% increase in Mineral Resource tonnes. The Mineral Resources defined at LR1 and FB3 have been estimated based on drill assay information received from the 4,312 m reverse circulation (RC) drill program completed in December 2021, in addition to 516 m of historic RC drilling from 2012. Flanagan Bore is part of the Company's Carawine JV and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. Having earned a 51% interest, Black Canyon is now earning up to 75% in the Carawine Project tenements by sole-funding an additional $2.5m of exploration expenditure. The Flanagan Bore project is located approximately 400 km southeast of Port Hedland. FB3 and LR1 Global Mineral Resource Estimate: Historic drill (RC) results from the LR1 Prospect and new RC drill assay information from the LR1 and FB3 deposits have been reviewed and validated for the Mineral Resource estimate. The work was supervised and conducted by Greg Jones, a specialist consultant in mineral resources, metallurgy and processing technology and is employed by IHC Mining. The Mineral Resources at LR1 and FB3 are outcropping, and form pronounced topographic features. The Mineral Resource estimate is based on drill holes on traverses completed on 200 m spaced lines at 100 m drill hole centres. At FB3, a total of 76 holes for 2,016 m metres were drilled averaging 27 m depth, whilst at LR1, a total of 47 holes for 2,296 m averaging 48 m depth were completed. The drill data shows manganese grades are strongly continuous downhole and across strike, which has significantly improved the confidence in the estimate and supports the Indicated Mineral Resource classification. High-grade manganese mineralisation is encountered from surface at FB3 and LR1 with zones of continuous mineralisation typically between 20 to 40m thick. High-Grade Manganese Mineral Resource: A shallow, high-grade subset of mineralisation has been delineated across the LR1 and FB3 Mineral Resources. At an elevated cut-off grade of 11% Mn the Mineral Resource estimate totals 33 Mt @ 12.8% Mn at an Indicated level of classification. This higher-grade material could be capable of supporting a substantial, multi-decade mining operation at Flanagan Bore with potential to also grow the resource base in the region. As the Company progresses the Scoping Study, the proposition of having immediate access to high grade manganese Mineral Resources from surface will be evaluated and potentially add significant value. Announcement • Mar 07
Black Canyon Limited (ASX:BCA) completed the acquisition of Panther Exploration Pty Ltd. Black Canyon Limited (ASX:BCA) entered into a binding Share Sale Term Sheet to acquire Panther Exploration Pty Ltd AUD 0.81 million on December 2, 2021. Under terms of term sheet, Black Canyon will pay consideration as loan reimbursement payment of AUD 0.040 million within 10 business days of the execution of the Agreement along with that it will issue 1 million Ordinary Black Canyon shares upon the satisfaction of a number of Conditions plus AUD 2 million ordinary Black Canyon shares upon the delineation of JORC. With the 100% acquisition of Panther the Black Canyon has been able to secure a highly prospective package of tenements, consolidating an enviable ground holding in this underexplored region of the Balfour Basin. Transaction has been approved by the Board of Black Canyon Limited
Black Canyon Limited (ASX:BCA) completed the acquisition of Panther Exploration Pty Ltd on March 7, 2022. Announcement • Mar 04
Black Canyon Limited Announces Manganese Discovery at FB3 - Flanagan Bore Project Black Canyon Limited announced the discovery of thick, shallow manganese enriched shales at the FB3 prospect at Flanagan Bore. The assay results from the FB3 RC drill program completed in December 2021 have been received and demonstrate widespread manganese mineralisation with several high-grade intersections reported from surface. The drill results will now be incorporated into a maiden Mineral Resource Estimate for FB3 in addition to the anticipated mineral resource upgrade to increase the current mineral resource at LR1 comprising 15Mt @ 11.3% Mn1. This will significantly increase the global Mineral Resource at Flanagan Bore. Flanagan Bore Drill Program Summary: A total of 168 RC drill holes were completed for 5,569 metres and 13 PQ diamond drill core holes were completed for 477 metres. The Company has received and compiled the assay results from the first 127 RC drill holes from the LR1 and FB3/FB4 deposit areas. A summary of the significant results is provided below and collar details for the drill program completed at FB3 are presented in Appendix 1. FB3/FB4 Prospects: A total of 82 holes for 2,148m were drilled into the FB3 and adjacent FB4 prospects. The RC drilling program encountered widespread manganese mineralisation across both the FB3 and FB4 prospects covering an area 1,000m x 1,000m, using a broad 200m x 100m grid drill pattern. There had been no previous drilling at FB3/FB4 and the assays results have now confirmed the discovery of thick manganese enriched shales at FB3/FB4. Several holes ended in mineralisation and remain open at depth. Future RC drill programs will be drilled deeper to determine the full extents of the manganese enriched shales down hole and down plunge. Structurally the mineralisation found within the FB3 prospect is defined within an open southwest plunging synclinal fold. The northern limb appears to be dipping slightly steeper than the southern limb which is close to flat. Higher manganese grade zones are coincident with an increase in topography across the fold nose and northern limb. Significant results for the FB3/FB4 prospects are shown in plan and cross-section in Figures 1 & 2 respectively and are also listed below: 39m @ 13.5% Mn & 14.2% Fe from surface including 15m @ 15.8% Mn and 13.1% Fe from surface (FBRC060) - 40m @ 11.9% Mn & 12.9% Fe from surface including 13m @ 14.1% Mn and 12.7% Fe from surface (RBRC061) - 29m @ 14.5% Mn & 12.2% Fe from surface including 10m @ 19.2% Mn and 12.4% Fe from surface (FBRC066)- 34m @ 13.7% Mn & 12.2% Fe from surface until EOH including 8m @ 17.5% Mn and 13.7% Fe from surface (FBRC068) - 36m @ 11.6% Mn & 10.8% Fe from surface including 14m @ 13.5% Mn and 11.4 % Fe from 9m (FBRC075). LR1 Mineral Resource Extension Assay Results: A 900m x 200m zone was historically drill tested in 2013 and an Inferred Mineral Resource estimated, comprising 15Mt @ 11.3% Mn1. As previously reported, the assays received from the RC drill program at LR1 confirmed extensions to the mineralisation to the southwest with 400m to 600m additional cross-strike width now defined. The mineralisation footprint is 1,100m long and up to 800m wide based on the results received from the RC drilling program. The mineralisation is open to the west but appears to be offset to the NE which will require additional drilling to confirm. Infill drilling is planned and will be undertaken during the 2022 field season: Significant results from LR1 are listed below and cross-section provided in Figure 3: 40m @13.4% Mn & 8.7% Fe from surface Incl. 11m @ 20.4% Mn & 8.6% Fe from 10m (FBRC018) - 47m @10.6% Mn & 8.5% Fe from 10m Incl. 10m @ 14.5% Mn & 10.8% Fe from 13m (FBRC001) - 35m @ 11.7% Mn & 9.4% Fe from surface Incl. 15m @ 14.7% Mn & 9.7% Fe from 10m (FBRC35) - 40m @ 11.0% Mn & 8.2% Fe from surface until EOH Incl. 10m @ 17.4% Mn & 9.6% Fe from 15m (FBRC44) - 23m @ 11.7% Mn & 8.9% Fe from surface Incl. 4m @ 14.6% Mn and 7.6% Fe from surface (FBRC22). Announcement • Feb 22
Black Canyon Limited Provides Further Thick Manganese Intersections At Flanagan Bore Black Canyon Limited announced the remaining assay results from RC drilling completed at the LR1 deposit. Building on the strong initial results reported on February 8, 2022, the additional drill holes continued to encounter thick zones of manganese enriched shale with the potential to significantly expand the LR1 maiden mineral resource estimate released in October 2021. Located 120km north-east of Newman, Black Canyon's Flanagan Bore tenement is part of the Company's Carawine Project and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements. A total of 168 RC drill holes were completed for 5,569 metres and 13 PQ diamond drill core holes were completed for 477 metres. To date, the Company has received and compiled the assay results from the LR1 deposit area only. A summary of the significant results is provided below and collar details for the drill program completed at LR1 are presented in Appendix 1. A 900m x 200m zone of the LR1 deposit was previously drill tested and an Inferred Mineral Resource of 15Mt @ 11.3% Mn was estimated1. The assays received from the first RC drill program completed by Black Canyon at LR1 have confirmed extensions to the mineralisation to the southwest with 400m to 600m additional cross-strike width now defined. The mineralisation footprint is now 1100m long and up to 800m wide based on assays results from the drilling to date. The mineralisation is open to the west but appears to be offset to the NE which will require additional drilling to confirm. Infill drilling is planned and will be undertaken during the 2022 field season. Significant results are shown in plan and section in Figures 1& 2 respectively and listed below. 35m @ 11.7% Mn & 9.4% Fe from surface including (FBRC035); 15m @ 14.7% Mn & 9.7% Fe from 10m; 40m @ 11.0% Mn & 8.2% Fe from surface until EOH including (FBRC044); 10m @ 17.4% Mn & 9.6% Fe from 15m; 23m @ 11.7% Mn & 8.9% Fe from surface including (FBRC022); 4m @ 14.6% Mn and 7.6% Fe from surface 30m @ 12.1% Mn & 9.3% Fe from 11m (FBRC030); 22m @ 11.0% Mn & 9.4% Fe from surface (FBRC023); 34m @ 11.2% Mn & 9.7% Fe from 6m until EOH (FBRC036). Announcement • Feb 09
Black Canyon Limited Provides Drilling Update Black Canyon Limited announced assay results for the first 20 holes completed at Flanagan Bore targeting extensions to the LR1 deposit. The mineral resource expansion drill program encountered thick zones of manganese enriched shale to the southwest of the main LR1 mineral resource. Further upside is possible to the east with more assays results expected over the coming weeks and the mineralisation remains open to the west. Scoping Study activities have continued with the engagement of specialists in the key disciplines of hydrogeology and geotechnical engineering and the appointment of highly regarded independent consultancy, BatteryLimits, to manage the Scoping Study. Located 120km north-east of Newman, Black Canyon's Flanagan Bore tenement is part of the Company's Carawine Project and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements. Black Canyon has now fulfilled the Minimum Obligation condition of the Agreement by incurring expenditure of more than $750,000 and completing 2,000m. With completion of the Minimum Obligation, Black Canyon is now proceeding to earn a 51% interest in the tenements by spending the balance of $1.5 million which is likely to be achieved in the coming months. A total of 168 RC drill holes were completed for 5,569 metres and 13 PQ diamond drill core holes were completed for 477 metres. To date, the Company has received assay results for the first 20 holes from the LR1 deposit area only. A 900m x 200m zone was previously drill tested and an Inferred Mineral Resource estimated, comprising 15Mt @ 11.3% Mn2. The assays received from the first RC drill program completed by Black Canyon at LR1 have confirmed extensions to the mineralisation to the southwest with 400m to 600m additional cross- strike width now defined. The mineralisation footprint is now 1100m long and up to 800m wide based on logging results and the assays received to date. The deposit remains open to the east and west based on 200m drill lines and 100m spaced holes. Infill drilling is planned and will be initiated as preparation for the 2022 field season commences. The Company is awaiting the assay results from drilling completed into FB3, with the potential to deliver a second Mineral Resource at Flanagan Bore. Manganese mineralisation was encountered in all of the diamond drill holes extending along the fold axis for a strike length of 600m. The RC drilling program encountered widespread manganese mineralisation across both the FB3 and FB4 prospects covering an area 800m x 800m, using a 200m x 100m grid drill pattern. There had been no previous drilling at FB3/FB4 and the RC drill program has visually confirmed the presence of manganese enriched shales at FB3. Announcement • Jan 05
Black Canyon Limited Announces Drilling Completed at Flanagan Bore Manganese Project Black Canyon Limited announced that drilling activities at Flanagan Bore located in the Pilbara region of Western Australia were completed prior to the Christmas break. The reverse circulation (RC) program has successfully intersected extensions to the LR1 mineral resource and discovered significant intervals of manganese mineralization at FB. The programs also provided diamond drill core (PQ size) that will now be utilised for metallurgical test work and will assist with the geo-metallurgical interpretation and mineralisation domaining for the resource estimation. Assays are pending and expected from early February. Located 120km north-east of Newman, Black Canyon's Flanagan Bore tenement is part of the Company's Carawine Project and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements. A total of 168 RC drill holes were completed for 5569 metres and 13 PQ diamond drill core holes were completed for 477 metres. LR1 Mineral Resource Extension Targets A 900m x 200m zone was previously drill tested and an Inferred Mineral Resource has been estimated comprising 15Mt @ 11.3% Mn1. The RC drill program recently completed by Black Canyon at LR1 has extended the mineralisation to the south and east using 200m line spacing and 100m spaced holes. Diamond drilling was also completed at LR1 to provide samples for metallurgical testwork. Manganese mineralisation was encountered in all of the diamond drill holes extending along the fold axis for a strike length of 600m. The RC drilling program encountered widespread manganese mineralization across both the FB3 and FB4 prospects covering an area 800 x 800m, using a 200m x 100m grid drill pattern. There had been no previous drilling at FB3/FB4 and the program has confirmed the significance of the fold structure in thickening the manganese mineralisation at FB3. The 400m x 100m drill pattern completed at FB1 following up eight previously drilled holes, which have confirmed the distribution of the manganese mineralisation. The prospect will benefit from future infill drilling to determine mineralisation continuity and structural interpretation. The assays for the RC drill results will be reported as they are received over the coming months. The diamond drill core will be used for a beneficiation metallurgical test work program that will feed into a Scoping Study in early 2022. Announcement • Dec 03
Black Canyon Limited (ASX:BCA) entered into a binding Share Sale Term Sheet to acquire Panther Exploration Pty Ltd AUD 0.81 million Black Canyon Limited (ASX:BCA) entered into a binding Share Sale Term Sheet to acquire Panther Exploration Pty Ltd AUD 0.81 million on December 2, 2021. Under terms of term sheet, Black Canyon will pay consideration as loan reimbursement payment of AUD 0.040 million within 10 business days of the execution of the Agreement along with that it willl issue 1 million Ordinary Black Canyon shares upon the satisfaction of a number of Conditions plus AUD 2 million ordinary Black Canyon shares upon the delineation of JORC. With the 100% acquisition of Panther the Black Canyon has been able to secure a highly prospective package of tenements, consolidating an enviable ground holding in this underexplored region of the Balfour Basin. Transaction has been approved by the Board of Black Canyon Limited Announcement • Nov 22
Black Canyon Limited Commences Drilling at Flanagan Bore Manganese Project Black Canyon Limited announced drilling activities have commenced at Flanagan Bore, located in the Pilbara region of Western Australia. A diamond drill core rig will provide core samples for metallurgical test work and a reverse circulation (RC) rig will be testing for extensions to the LR1 mineral resource. Additional targets to be RC drill tested include FB3, FB2 and FB5/FB6. All of the targets are characterised by widespread outcropping manganese enriched shale units associated with a multi-kilometre scale shallow plunging fold structure. Located 120km north-east of Newman, Black Canyon's Flanagan Bore tenement is part of the Company's Carawine Project and is subject to a farm-in and joint venture agreement with Carawine The manganese-enriched shales identified across several prospect areas are the subject of this drill program (Figures 2 to 5) and include: LR1 Mineral Resource - 900m x 200m zone that has been previously drill tested and an Inferred Mineral Resource has been estimated comprising 15Mt @ 11.3% Mn1. The prospect remains open to the south and east. Recently completed drill hole LRDD01 (twin drill hole to previous hole LRRC08) located at LR1 shows a combination of discrete thin and thickly banded manganese enriched horizons interbedded with soft clays and shales which should facilitate processing using beneficiation and ore sorting methods; FB2 Prospect - Comprises folded manganese shales with thicker more prominent bands of manganese-enriched shale forming topographic rises. Data from eight previous drillholes located across a 1000m x 900m footprint at the FB1 prospect confirm grade and thickness potential2; FB3/FB4 Prospects - Widespread areas of outcropping and sub-cropping manganese-enriched shale exposed over a strike of 400m and mapped down dip a further 650m. There is no evidence of previous drilling in the area; FB5/FB6 Prospects - Outcropping and sub-cropping manganese-enriched shale exposed over a strike of 5km, dipping shallowly to the northwest. This prospect has never been drilled; A Program of Work (POW) has been approved for up to 500 RC and diamond drill holes across the Flanagan Bore tenement. Heritage Surveys were completed in late October for which Black Canyon thank the Karlka Nyiyaparli Traditional Owners and those who attended the surveys. The Company is planning to drill approximately 7500m of RC and 500m of PQ diamond core across the various prospects. The assays for the RC drill results will be reported as they are received over the coming months. The diamond drill core will be used for a beneficiation metallurgical test work program that will feed into a Scoping Study in early 2022. Announcement • Sep 25
Black Canyon Manganese Confirmed At Braeside and Oakover West Black Canyon advise that a field assessment over the Braeside and Oakover West project areas in the eastern Pilbara has confirmed the presence of manganese mineralisation from previous drilling and surface mapping. The Braeside and Oakover West projects are located 250-300km southeast of Port Hedland, accessible via the Woodie Woodie to Port Hedland sealed road. The projects are part of the Company's Carawine JV and are subject to a farm-in and joint venture agreement with Carawine Resources Ltd., whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements. The field assessment completed by Black Canyon has confirmed outcropping manganese-enrichment associated with a number of structural and stratigraphic controls. With the conclusion of the initial field assessment phase across the JV tenements, the Company is refining its target ranking process and planning appropriate exploration programs across the most prospective targets. As such the Flanagan Bore manganese enriched shale prospects remain a high priority with RC drilling planned for early November pending the completion of a scheduled Heritage Survey that is subject to COVID restrictions. Previous drilling within the Braeside tenement comprised shallow drill holes to depths of between 6m and 12m targeting obvious outcropping manganese mineralisation. The target sizes varied from 100m to 400m long zones of manganese at surface associated with brecciation within the Pinjian Chert or enrichment related to shales. The Braeside tenement is located 60km along strike from the operating Woodie Woodie Manganese Mine and contains similar oriented north to northeast striking faults often associated with high-grade hydrothermal manganese mineralisation. The field trip was beneficial in highlighting the potential of the tenement adjacent the basal Fortescue Group contact. Geophysical surveys are being planned to target drill testing of larger concealed mineralisation below the current shallow drilling. Oakover West Summary: The Oakover West project comprises two tenements covering an area of 130km², adjacent to the Sunday and Ant Hill manganese development projects owned by Resource Development Group and the historic Davis River manganese mine. The geology of the tenements comprises a series of major north-trending fault bounded horst and graben structures with Pinjian Chert forming extensive plateaus and Manganese Group sediments sub-cropping within the open valleys. Manganese across the tenements is associated with sub-horizontal manganese enriched units of the lower Manganese Group sediments and sub-vertical brecciated fault structures. Stratabound manganese mineralisation in this region of the Oakover Basin is typically associated with elevated iron contents that are commonly equal to or may locally exceed manganese concentrations. At the Blue Valley (E46/1069-I) prospect, manganese and iron enrichment is encountered across two 500m to 650m long NE- and E-trending zones of prominent surface enrichment. The drilling was undertaken by Pilbara Manganese Pty Ltd. (Consolidated Minerals Ltd) as part of a much larger group of tenements it explored in 2010. Announcement • Jul 15
Black Canyon Limited Confirms High-Grade Hydrothermal Manganese at Oakover East Black Canyon Limited advised that it has confirmed the presence of extensive surface manganese mineralisation and highlighted further significant scope to grow the known mineralisation in several more areas within its Carawine Project in WA's Pilbara. A field assessment conducted over the Oakover East tenements confirmed outcropping zones of manganese located along the prospective Carawine Dolomite and Pinjin Chert contact zone and multiple residual surface deposits along the Fig Tree Manganese Trend. The recent field trip at Oakover East was successful in verifying this exploration data, which includes a host of previous significant drill results. Located 35km south of the operating Woodie Woodie Manganese Mine, Oakover East is part of Black Canyon's Carawine Project which is subject to the farm-in and joint venture agreement with Carawine Resources Ltd. whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements. The region has been the subject of previous aerial and surface geophysical surveys, mapping, rock chip sampling and RC drill testing which has provided a substantial high-quality dataset to assist in target evaluation and ranking. The rock chip and drill data provided in this release have been collated from previous technical reports submitted to DMIRS and available for download from the WAMEX web interface. The field trip conducted by BCA was to assist in verifying this previous exploration data. Sugai - Zillate Trend (renamed SU1 and ZL1 respectively): Surface mineralisation comprising a range of moderate to high grade manganese outcrops were traced along a strike of 1,200m between the SU1 and ZL1 prospects. A small number of previous rock chip samples at the ZL1 prospect reported moderate to high grade manganese contents as displayed in Table Further work is warranted to target structural complexity where manganese maybe remobilised into cross cutting structures. Turpentine (renamed TU1): The surface mineralisation at TU1 comprises a widespread blanket of mostly residual manganese and iron enrichment overlying the Carawine Dolomite. The main TU1 outcrop comprises a manganese and iron
enriched zone extending 450m long and approximately 120m wide with previous surface rock chip samples ranging from 30 to 55% Mn. The previous drilling completed into the manganese outcrops at TU1 yielded shallow zones of mostly outcropping manganese mineralisation ranging between 3 and 6m thickness. There remains potential to delineate a zone of moderate to high grade manganese mineralisation as indicated by previous rock chip and drill data at the TU1 prospect with an infill drill program. Ah Ping (renamed AP1): AP1 comprises an extensive corridor of residual ferruginous and manganiferous colluvium and outcrops overlying flat dipping Carawine Dolomite and similar to mineralisation observed at the TU1 prospect. The mineralisation footprint at AP1 extends over 1000m long as evident by the rock chip data collected by previous explorers with very high-grade manganese encountered across and along strike. A limited number of holes drill tested the residual manganese and iron enrichment blanket at the AP1 prospect but those holes did encounter from surface 1 to 5m intervals of Mn mineralisation prior to intersecting the Carawine Dolomite. There remains potential to delineate a zone of moderate to high grade manganese mineralisation as indicated by previous rock chip and drill data at the AP1 prospect with an infill drill program. Haden and Haden NW (renamed HD1 and HW1): High grade mineralisation was previously sampled and drilled at the HD1 Prospect. The outcrop is 170m long with a width ranging from 10 to 20m. A structurally controlled corridor from the HD1 prospect was also mapped for approximately 2,500m to the NW with three other manganese enriched outcrops also identified. A single rock chip sample was previously taken at one of the three prospects that returned an assay of 34.2% Mn (PM102265) which supports the grade potential of the additional targets The mineralisation at HD1 appears to be structurally controlled with high grade manganese remobilizing into structures within the Pinjin Chert above the Carawine Dolomite basement contact. This is evident in hole HADRC017 that encountered 7m @ 33.2% Mn from 2m. Future evaluation will examine the possibility of a steep dipping mineral horizon at HD1 and drill testing the 3 new prospects along strike to the NW. HIGHLIGHTS: Field assessment confirms outcropping surface manganese mineralisation associated
with previous drill results at Fig Tree located 35km south of the Woodie Woodie Operation The assessments also identified prospective manganese targets which have not been adequately drill-tested Surface manganese mineralisation was observed along a strike of 1200m between the SU1 and ZL1 prospects, where previous down dip drilling intersected significant high grade intervals, including: 11m @ 18.8% Mn from 66m (SU2RC001) - 6m @ 16.8% Mn from 7m (SU2RC008) - 14m @ 18.5% Mn from 52m including 8m @ 27.8% Mn (SU2RC011) - 14m @ 16.2% Mn from 54m including 9m @ 21.4% Mn (SURC020) - 11m @ 15.0% Mn from 62m including 5m @ 24.4% Mn (SURC021) - 13m @ 13.6% Mn from 13m including 7m @ 18.3% Mn (ZLRC016) - 26m @ 12.6% Mn from 18m including 10m @ 18.2% Mn (ZLTRC015). At the TU1 and AP1 prospects widespread surface mineralisation identified over 500m supported by rock chip sampling and limited previous drilling HD1 prospect delineated over a strike of 170m with potential to the northwest to HW1. Significant previous drill results from HD1 include: 7m @ 33.2% Mn from 2m (HADRC007) - 3m @ 17.0% Mn from surface (HADRC018). Surface mineralisation that remains untested in addition to large areas of prospective geology that have not been subjected to ground geophysical surveys and follow-up drilling. Announcement • Jul 03
Black Canyon Advises Second Field Assessment of Its Flanagan Bore Manganese Project in the Pilbara Extends the Known Strike Length of the Mineralisation Along the FB5 and FB6 Prospects to 5Km Black Canyon advised that a second field assessment of its Flanagan Bore manganese project in the Pilbara has extended the known strike length of the mineralisation along the FB5 and FB6 prospects to 5km. At FB6, mapping has confirmed the presence of extensive mineralisation at surface and highlighted significant scope to grow the known mineralisation in several areas. Located 120km north-east of Newman, Black Canyon's Flanagan Bore tenement is part of the Company's Carawine Project and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements. These include the: FB1/FB2 Prospects, which comprise folded manganese shales with the thicker more prominent bands of manganese-enriched shale forming topographic rises. Data from eight previous drill holes located across a 1000m x 900m footprint at the FB1 prospect confirm grade and thickness potential; FB3/FB4 Prospects, which show widespread areas of outcropping and sub-cropping manganese-enriched shale exposed over a strike of 400m and mapped down dip a further 650m; There is no evidence of previous drilling in the area; FB5/FB6 Prospects, outcropping and sub-cropping manganese-enriched shale exposed over a strike of 5km dipping shallowly to the northwest. This prospect has never been drilled; LR1, 900m x 200m zone has been previously drill tested with additional surface mineralization identified up to 500m south of the drilled area. The latest field assessments conclude the preliminary targeting exercise, and the Company is now preparing to execute its drilling programs, which are scheduled to start this quarter. A Program of Work (POW) has been approved for up to 500 drill holes across the Flanagan Bore Tenement and finalization of Heritage Survey dates which are subject to COVID-19 restrictions allowing the surveys to proceed. In addition, the Company continues to review the extensive historic database across the Carawine Project tenements to establish new targets, including several with the potential for high-grade hydrothermal style mineralisation, particularly along the Fig Tree corridor, 35km south of the operating Woodie-Woodie manganese mine. A field program has also been undertaken at Fig Tree with the data currently being collated and interpreted. Announcement • Jun 10
Black Canyon Limited Announces Widespread Manganese Confirmed at Flanagan Bore Prospect Black Canyon Limited announced that a field assessment of its Flanagan Bore manganese prospect in the Pilbara has confirmed the presence of extensive mineralisation at surface and highlighted significant scope to grow the known mineralisation in several areas. Located 120km northeast of Newman, Black Canyon's Flanagan Bore tenement is part of the Company's Carawine Project and is subject to a farm-in and joint venture agreement with Carawine Resources Ltd. whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements. The field assessment, led by Black Canyon Executive Director Brendan Cummins, confirmed outcropping manganese-enriched shales from the prospective Balfour Formation at the predicted locations and identified several new prospect areas that have not been adequately drill tested. These include the: FB1/FB2 Prospects, which comprise folded manganese shales with the thicker more prominent bands of manganese-enriched shale forming topographic rises Data from eight previous drill holes located across a 1000m x 900m footprint at the FB1 prospect confirm grade and thickness potential; FB3/FB4 Prospects, which show widespread areas of outcropping and sub-cropping manganese-enriched shale exposed over a strike of 400m and mapped down dip a further 650m. There is no evidence of previous drilling in the area. The 900m x 200m extent and flat lying nature of manganese mineralisation previously drilled at LR1 was confirmed and further surface mineralisation has been identified up to 500m south of the current drill area - refer to Figure 3 (ASX Announcement dated 17/05/2021 "Exploration to Commence over the Pilbara Manganese projects). In light of the strong results from the field trip, Black Canyon has scheduled drilling to start at Flanagan Bore in the coming quarter. The Company continues to review the extensive historic database across the Carawine project tenements to establish new targets, including several with the potential for high-grade hydrothermal style mineralisation, particularly along the Fig Tree corridor, 35km south of the operating Woodie-Woodie manganese mine. A further field program is planned to evaluate these opportunities in the coming weeks. Previous drilling at LR1 encountered thick intervals of manganese-enriched shales with a maximum thickness of 37m. The previous drilling has shown a mineralisation footprint in the order of 900 x 200m and the recent field investigations confirmed the flat-lying nature of the mineralisation and identified sub- cropping mineralisation a further 500m to south that appears to be part of the same horizon. This suggests the prospect is open at least another 500m to the south of the current drilling and remains open to the east under cover. Significant results from the earlier program include: LRRC08 - 37m @ 12.8% Mn from 3m. LRRC16 - 33m @ 11.3% Mn from surface. LRRC03 - 28m @ 11.9% Mn from 4m. Further manganese mineralisation maybe encountered under extensive sheetwash areas to the south and around the fold hinge to the north. Announcement • May 17
Black Canyon Limited Announces Exploration to Commence At Pilbara Manganese Projects Black Canyon announced that its exploration campaign targeting manganese in WA's Pilbara region is now underway. The company's initial focus is the underexplored Flanagan Bore tenement within its Carawine Projects. The initial program will primarily focus on geochemical surface sampling as well as establishing logistics in preparation for the planned drill program at Flanagan Bore scheduled for early next quarter. Previous drilling at Flanagan Bore has returned thick intervals of supergene manganese mineralization. These historical drill results contain manganese and iron grades which have similar ranges to the Butcherbird manganese resources currently being developed by Element 25 Ltd. and the Sixty Sixer manganese deposit. A detailed review of the previous reverse circulation (RC) drilling completed in 2012 across 4 prospects at Flanagan Bore has highlighted the scale and potential of the project. The initial RC drill program comprised only 17 holes into the Little Richard prospect (to be renamed LR1) which encountered continuous mineralization over 1km of strike with widths across strike of between 100m and 200m which remain open to the south and east. The vertical down hole intersections ranged in thickness from 15m to 37m with an average weighted grade of 12.0% Mn and 10.2% Fe. Significant results from the 2012 program include: LRRC08 - 37m at 12.8% Mn from 3m; LRRC16 - 33m at 11.3% Mn from surface; LRRC03 - 28m at 11.9% Mn from 4m. The previous drilling activity has only tested a small portion of the manganese-enriched Balfour Formation on the project. Several kilometres of strike remain to be evaluated in the upcoming field program in addition to several separate outcrops that are also considered prospective. A further five regional holes were also completed in 2012 identifying significant mineralization in drill holes LRRC 18 (Lucille Prospect to be renamed L1) and LRRC 19 (Tutti Frutti Prospect to be renamed TF1), supporting the potential for manganese mineralization to be widespread across the Flanagan Bore project area: LRRC18 - 13m at 8.62% Mn from surface; and LRRC19 - 29m at 11.4% Mn from 1 metre.