Black Canyon Limited

Black Canyon was established to explore, discover and develop manganese projects located in the mineral rich exporting hub of the Pilbara region in Western Australia.

Our projects comprise more than 2,750km² of prospective tenure in a premier mining jurisdiction (East Pilbara), close to the operating Woodie Woodie and Butcherbird manganese mines.

The manganese projects within the Carawine JV and Black Canyon’s 100% owned tenure range from grassroots, advanced exploration and Feasibility level. Previous exploration work across the main projects identified multiple outcropping manganese trends south of the Woodie Woodie operation with high to moderate manganese assay results previously reported in outcrop sampling and drilling.

Exploration and mineral resource drilling at the Company’s flagship project – Flanagan Bore has intersected thick, continuous intervals of manganese enriched shale-hosted mineralisation with similarities in terms of grade Mn% and style to ores currently being mined in the Pilbara region. The Company has now delineated a large Mineral Resource Estimate (JORC) comprising 171 Mt @ 10.3% Mn (58% Measured and 42% Indicated) containing 18 Mt of manganese. The Mineral Resource estimate highlights significant scale, well-defined grade domains and high-grade manganese mineralisation commencing from surface to depths up to 40m.

A Scoping Study completed in August 2022 confirmed robust economics, 20 year mine life, with low development CAPEX and an NPV of $134m and IRR of 67%. The Company continues to progress detailed feasibility studies on the Flanagan Bore Project.

In parallel, the Company is well positioned to evaluate its longer-term ambition of downstream processing manganese ores from our East Pilbara projects to produce high purity manganese sulphate (HPMSM) for electric vehicle Li-Ion batteries. The Company recognises the tremendous global growth for manganese in electric vehicle demand within NMC and LFMP cathode based batteries in the race to reduce battery cost, maximise energy density by increasing manganese content.

Black Canyon’s projects are highly prospective for both high grade hydrothermal and outcropping supergene styles of manganese mineralisation. The Company’s portfolio offers an exciting opportunity for investors to gain exposure to mineral development and downstream opportunities that feed into the steel manufacturing and evolving EV Li-Ion energy storage space.