Black Canyon Expands Wandanya Manganese Project With Strategic Acquisitions

Black Canyon Expands Wandanya Manganese Project with Strategic Acquisitions

Black Canyon Limited (ASX: BCA) has significantly expanded its manganese footprint in Western Australia's East Pilbara region through the strategic acquisition of Ndalamo Platinum Pty Ltd, adding 229km² of prospective tenements around its promising Wandanya manganese project and across the Balfour Manganese Field.

Key Acquisition Highlights Enhance Project Scale

The acquisition includes six strategically positioned tenements that complement Black Canyon's existing large-tonnage manganese discoveries. Most notably, geological mapping has confirmed a 300-400m strike continuation of the manganese-rich horizon from the recently drilled Wandanya W2 prospect onto the newly acquired ELA46/1571 tenement.

"With the planned RC drill program about to commence at Wandanya, the Company has recognised the strategic value in acquiring and further consolidating its ground position in the east Pilbara," said Black Canyon's Managing Director Brendan Cummins. "The Company has already mapped outcropping manganese mineralisation over 3km of strike at Wandanya and with the addition of the Ndalamo tenement to the south we can add a further 300m to 400m of strike which further enhances the scale potential of this manganese discovery."

Wandanya South Expansion Delivers Immediate Value

The Wandanya South tenement (ELA46/1571) directly abuts Black Canyon's E46/1407 tenement, which hosts the promising Wandanya manganese and iron prospects. Field mapping confirms the manganese-rich horizon continues southward for 300-400m.

Previous drilling at the W2 prospect, just 100m north of the tenement boundary, delivered impressive results of 4m @ 26.3% Mn from 5m including 2m @ 37.4% Mn from 7m. The prospective stratigraphic corridor for manganese enrichment has been mapped to the south for 4.5km on the Wandanya South tenement.

Additionally, several iron-enriched outcrops have been identified on the Wandanya South tenement with similar mineralogy and textures to those found on Black Canyon's existing ground.

Nicholas Downs and Black Hills Tenements Add Exploration Upside

The acquisition package includes two other highly prospective tenements:

• Nicholas Downs (EL46/1559) – Surrounds the historic Nicholas Downs manganese mine and directly abuts the Company's license hosting the KR1 and KR2 deposits. Historic sampling across one target spanning 2.7km by 1km returned rock chip samples ranging from 11.8% to 27.5% Mn, averaging 19.6% Mn.

• Black Hills (EL46/1554) – Contains multiple shale-hosted manganese targets 2-2.5km long. Previous rock chip sampling returned values between 10.6% Mn to 33.3% Mn, averaging 21.8% Mn. Limited historic drilling intersected manganese mineralisation with results including 13m @ 10.4% Mn and 15m @ 10.1% Mn.

Understanding Manganese: A Critical Mineral for Steel and Batteries

Manganese is considered a critical mineral due to its essential role in steel production and growing importance in battery technologies. As a key component in steel manufacturing, manganese improves strength, hardness, and resistance to wear.

In the battery sector, manganese is increasingly important for lithium-ion battery cathodes, particularly in the form of manganese dioxide. The metal's abundance compared to other battery materials like cobalt makes it attractive for mass-market electric vehicle applications where cost efficiency is crucial.

Black Canyon's Balfour Manganese Field deposits are particularly valuable because the mineralisation is:

• Typically outcropping and shallowly dipping
• Located at relatively shallow depths (12-45m from surface)
• Amenable to density-based beneficiation (2.5-3x upgrade from in-situ grades)
• Well-suited to large-scale open pit mining

Impressive Resource Base Supports Long-Term Growth

Black Canyon's existing global mineral resource across the Balfour Manganese Field already stands at an impressive 314Mt @ 10.5% Mn, comprising:

• 100Mt @ 10.4% Mn (Measured)
• 150Mt @ 10.1% Mn (Indicated)
• 64Mt @ 11.9% Mn (Inferred)

Scoping studies on the KR1 and KR2 deposits have demonstrated compelling economics with an NPV8 of $340 million, IRR of 70%, AISC of US$3.38/dmtu, and CAPEX of $84.1 million.

Acquisition Terms and Future Outlook

Black Canyon will acquire 100% of Ndalamo Platinum Pty Ltd for:

• Two million fully paid ordinary shares in Black Canyon
• Two million unlisted Black Canyon options (exercisable at $0.14 with a 3-year term)

The acquisition is subject to completion of a 21-day due diligence period and the grant of tenements ELA46/1571 & ELA46/1572 by November 30, 2025.

Why Investors Should Follow Black Canyon

Black Canyon represents a compelling investment opportunity in the critical minerals space for several key reasons:

1. Resource Scale and Quality: With a 314Mt resource base and high-grade exploration targets, the company has established a significant footprint in the manganese space.

2. Strategic Position: The company has consolidated 1,700km² of highly prospective ground in an underexplored region with proven mineralisation.

3. Positive Economics: Early economic studies demonstrate robust project economics with high margins and manageable capital requirements.

4. Critical Mineral Exposure: Manganese's dual importance in steel production and battery technologies provides market diversification and long-term demand drivers.

5. Exploration Upside: The newly acquired tenements provide multiple opportunities to expand the resource base through near-term exploration programs.

With an upcoming RC drill program at Wandanya and exploration activities planned across the newly acquired tenements over the next 6-12 months, investors can expect regular news flow and potential value catalysts as Black Canyon continues to develop its manganese portfolio.

Interested in Australia's Growing Manganese Opportunity?

Discover how Black Canyon's strategic acquisitions and impressive resource base are positioning the company at the forefront of manganese development in Western Australia. With a robust 314Mt resource, compelling project economics, and significant exploration upside from newly acquired tenements, Black Canyon offers investors exposure to a critical mineral essential for both steel production and battery technologies. To learn more about this investment opportunity and stay updated on their upcoming drill programs, visit Black Canyon's investor dashboard today.