Canyon Resources Ltd., in full process of joint venture with the British company Altus Strategies Ltd., got two years renewal from December 4, 2014, at its exploration permit for the project of Birsok bauxite which covers 1462 km2 in the Adamawa province, in the centre of Cameroon.
"Canyon is committed to advancing the Birsok project and we will mobilize team of geologists as quickly as possible in the new year to begin our second exploration campaign," said Phillip Gallagher, CEO of Canyon, announced on 11 December during the renewal of the licence.
According to the mining company listed on ASX, all prerequisites for its joint-venture with Altus are now filled so it undertakes 51 to 75% interest in the Birsok project containing a mineralized zone of bauxite of 3.5 km on 40 m with a thickness average 4 m and a content ranging between 40 and 45% aluminum oxide.
Canyon Resources Ltd., holding an area of exploration of 3500 km2 in Burkina Faso, plans to produce bauxite from Birsok that will be transported by the railway line owned by Camrail towards the ports of Douala and Kribi for export.
