Canyon buys its own Cameroon drill rig

THE DRILL SERGEANT: Canyon Resources (ASX: CAY) has purchased an Australian-built, six-wheel-drive Toyota Landcruiser mounted aircore drilling rig to use on the company’s Birsok DSO (direct shipping ore) bauxite project in Cameroon.

The purchase has been executed just in time as the company has just completed field preparation work for a planned 3,000 metre drilling program on the Birsok project.

Canyon identified the most expensive component of its previous drilling program was the transport and clearing required to locate the larger-style track mounted drill rig on to the plateaux.

The company said the lighter, six-wheel-drive rig will provide easier and lower impact access onto the plateaux, as well as reducing the need for access clearing.

According to Canyon, owning a Cameroon-registered drilling rig will remove time and cost inefficiencies usually encountered with mobilisation of rigs and custom processing.

It also expects ownership of the rig to improve efficiency and reduce the costs of future drilling programs on the project.

Canyon is currently finalising an arrangement with a drilling contractor to manage the rig maintenance and staffing for drilling programs.

With the rig on board, Canyon has a drilling program in excess of 250 holes for approximately 3,000m planned to test the new plateaux on the Mandoum permit as well as other plateau targets.

It also intends to carry-out infill drilling on existing bauxite-rich plateaux it discovered during a previous drilling program.

“The acquisition of the aircore drilling rig already registered in Cameroon is a positive step forward for the company and in the development of the Birsok bauxite project,” Canyon Resources managing director Phillip Gallagher said in the company’s announcement to the Australian Securities Exchange.

“Access to drilling rigs in Cameroon has been limited and the acquisition will guarantee that the company will have on going flexibility and availability of the rig, as well as significantly reducing the costs of drilling on the project.

“We have had geological teams on the project since January completing geological mapping, drill hole targeting and clearing work on various plateaux in preparation for the upcoming drilling program.

“Now that the acquisition of the rig has been completed, we are preparing the rig to commence drilling as soon as possible.”

Website: www.canyonresources.com.au