[Ferro-Alloys.com] 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). A Heritage Survey for late March was unfortunately postponed due to the Traditional Owners cultural responsibilities and is being re-scheduled for late April.
• The Wandanya discovery represents a new exploration model on the eastern margin of the Oakover Basin comprising hydrothermal, stratabound manganese and iron. To date, the Company has only drill tested 240m of strike of the 3km long manganese target.

The planned RC drill program will test 900m of strike and 200-300m across strike following up previously announced manganese results including: 5m @ 31.1% Mn from surface, including 2m @ 42% Mn (WDRC005)

7m @ 26.3% Mn from 2m, including 3m @ 38.2% Mn (WDRC013)

6m @ 26.3% Mn from 4m, including 3m @ 40.1% Mn (WDRC021)

6m @ 29.6% Mn from surface, including 3m @ 41.0% Mn (WDRC031)

5m @ 32.4% Mn from 3m, including 3m @ 40.1% Mn (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% Fe.

Significant manganese upgrades above the 44% Mn oxide benchmark achieved through sighter level beneficiating testwork applied to Wandanya average raw feed grades of about 30% Mn upgraded to 48-50% Mn.

The Company is well funded to execute its programs with completion of a $2.5m placement to existing and new shareholders including Lowell, Cranport and Nero Resource Funds.

Black Canyon’s Managing Director Brendan Cummins said:

“The Company is looking forward to the second phase of RC drilling into the high-grade manganese and iron targets discovered at Wandanya. We were very pleased with the achievements through 2024 that culminated in the discovery of consistent, well mineralised and continuous horizons of high-grade manganese in drilling. 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 the mapped 3km strike was drill tested in September 2024, and we are planning to test a further 900m of strike and at least 200-400m of cross-strike as we drill test the shallow down dip extensions of the stratabound manganese horizon. The iron horizon has never been drill tested so we 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 we plan to drill in the Phase 3 RC program.

“It was unfortunate that the planned March Heritage survey was postponed but Black Canyon respects the Karlka Nyiyaparli Aboriginal Corporation (KNAC) and its Members to focus on their cultural responsibilities. We will continue to liaise with the KNAC and look to reschedule the Heritage survey in late April.”

Wandanya Phase 2 RC Drill Program (BCA 100%)

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. The drill line spacing is variable between 100m and up to 350m with the planned hole centres on the lines about 40m apart.

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 cross-strike width to be tested for manganese mineralisation is between 200m and 400m.

The iron rich targets will be drilled with multiple 100m spaced E-W traverses along a strike of 900m located to the west and up dip of the manganese outcrops. 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. The timing of Phase 3 will depend on the results from Phase.

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• [Editor:tianyawei]