Black Canyon (ASX:$BCA) Maiden Mineral Resource Estimate

Australian manganese explorer and developer, Black Canyon Limited (ASX:BCA), has announced a significant milestone with the maiden Mineral Resource estimate (MRE) of 103 Mt @ 10.4% Mn at the KR1 and KR2 deposits, located within the Balfour Manganese Field. The MRE contains 10.7 Mt of manganese and is a result of the July 2023 reverse circulation (RC) drill program.

Executive Commentary on Maiden Mineral Resource Estimate

Black Canyon Executive Director, Brendan Cummins, expressed satisfaction with the latest increase in resource tonnes and contained manganese from the KR1 and KR2 deposits. He highlighted the company's significant progress in discovering more manganese than any other company in Western Australia, with a massive inventory of 28.4 Mt of contained manganese. Cummins also emphasized the potential of the BMF deposits to produce High Purity Manganese Sulphate (HPMSM) for electric vehicle batteries and a 30 - 33% manganese concentrate for the steel industry through simple beneficiation processes.

Summary of Maiden Mineral Resource Estimate and Outlook

The maiden Mineral Resource estimate of 103 Mt @ 10.4% Mn at the KR1 and KR2 deposits, along with the previously announced Flanagan Bore MRE of 171 Mt @ 10.3% Mn, demonstrates the scale of the Balfour Mineral Field. Black Canyon's ambitions include establishing Ore Reserves through development studies for HPMSM feedstock and manganese concentrates for the steel industry. The company is also focused on completing technical studies, engaging with end users, and executing its strategy to capitalize on the significant potential of the Balfour Manganese Field. With a total Global Mineral Resource estimate of 275 Mt @ 10.3% Mn, Black Canyon is well-positioned to explore development options and optimize its test parameters for a planned Pilot Plant.