Black Canyon : Grant of Davis River EL Significantly Expands Oakover West

ASX Announcement

	15 March 2022	ASX:BCA
only	Grant of Davis River Exploration Licence
		significantly expands Oakover West
use	HIGHLIGHTS
• Grant of the 100% owned Davis River Exploration Licence (E46/1382), adds another
		618km² to the prospective Oakover West Project
personal	• Davis River is located adjacent to several advanced projects, including the Sunday and
Ant Hill manganese deposits and significant manganese occurrences at Bee Hill,
Honey Bee and Mt Rove.
• Historic drilling from the adjacent Carawine JV tenure within the Oakover West Project
highlight the prospective nature of the area and include:
• 6m @ 21.4% Mn from 5m (BLVR006)
• 9m @ 14.3% Mn from 26m (BLVR022)
• 11m @ 9.7% Mn from 22m (BLVR024)
• 6m @ 17.8% Mn from 24m (BLVR028)
• Multiple rock chip samples gathered over prospective corridors and structure assaying
greater than 30% Manganese
• Potential to discover both hydrothermal Woodie Woodie and manganese enriched
shale styles of mineralisation
• Several other exploration licence applications proceeding through to grant with

ongoing land access negotiations with the relevant Native Title parties.

ForBlack Canyon ("Black Canyon" or 'the Company") (ASX: BCA) is pleased to advise that the 100% owned Davis River Exploration Licence (E46/1382) has been granted and will significantly expand the Oakover West Project by 618km², now totalling 820km².

The Oakover West Project now comprises five tenements, two of which (E46/1069 & E46/1119 over 130km²) are part of the Company's Carawine JV and are subject to a farm-in and joint venture agreement with Carawine Resources Ltd (ASX:CWX), whereby Black Canyon can earn up to a 75% interest in the Carawine Project tenements (Figure 1).

Oakover West is well located in a highly prospective stratigraphic and structural corridor as evidenced by the Sunday and Ant Hill manganese deposits, owned by Resource Development Group, the historic Davis

ASX Code: BCA	Registered Address	Telephone: [phone]
	283 Rokeby Road	Email: [e-mail]
	Subiaco, WA, 6008	Website: www.blackcanyon.com.au

River manganese mine and well known manganese occurrences at Bee Hill, Mt Rove and Honey Bee owned by Consolidated Minerals.

onlyThe enlarged tenement package consolidates a large footprint in the region with the potential to delineate both manganese enriched shales and higher-grade hydrothermal styles of mineralisation.

Black Canyon's Executive Director, Brendan Cummins, said "The expansion of the Oakover West Project is in line with the Company's strategy to become a dominant ASX-listedmanganese explorer and developer with a focus on the eastern Pilbara.

"The initial trip to the area confirmed the prospectivity of this corridor, with the identification of large structures and the right geology. This was further supported by widespread historic rock chip assay data that has shown high-grade manganese related to significant north to northeast trending structures across

usethe licences.

"Whilst the Company is currently focussing on the LR1 and FB3 manganese discoveries at Flanagan Bore, it is preparing to undertake additional mapping, review and targeting activities across the Oakover West Project in preparation for the upcoming field season."

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Figure 1. Black Canyon tenements - CWX JV (BCA earning 75%) and other BCA 100% owned

tenements that are granted or under application.

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(refer ASX announcement 23rd September for details)

Davis River (E46/1382) and Oakover West Project Summary

Manganese enriched shale across the tenements is associated with sub-horizontal units of lower onlyManganese Group sediments assumed to be the prospective Balfour Formation. There is also hydrothermal style manganese mineralisation associated with sub-vertical brecciated fault structures

along the valley margins in contact with Pinjian Chert and Carawine Dolomite.

Historic rock chip and drillhole data has confirmed the association between significant structures hosting manganese and highlights the prospective nature of the tenement package (Figure 2.

Of the 288 historic and recent rock chip samples taken from across the Carawine JV and 100%-owned Oakover West Project tenements, 116 samples returned values greater than 30% Mn (Appendix 1). Whilst rock chip sampling is typically selective the high portion and wide geographical distribution of samples

useshowing high-grade manganese is encouraging and supports the potential to locate further mineralisation. Stratabound manganese mineralisation in this region of the Oakover Basin is typically associated with elevated iron contents that are commonly equal to or may locally exceed manganese concentrations. An example of this is the Blue Valley Prospect (located within Carawine JV tenement - E46/1069) where manganese and iron enrichment is encountered across two 500m to 650m long NE- and E-trending zones of prominent surface enrichment.

Significant manganese intervals from previous RC drilling at Blue Valley include:

• 6m @ 21.4% Mn from 5m (BLVR006)
• 9m @ 14.3% Mn from 26m (BLVR022)
• 11m @ 9.7% Mn from 22m (BLVR024)
• 6m @ 17.8% Mn from 24m (BLVR028)

Significant iron intervals from previous RC drilling at Blue Valley include:

personal	• 8m @ 57.6% Fe from 27m (BLVR004)
• 9m @ 52.4% Fe from 52m (BLVR012)
• 13m @ 58.2% Fe from 1m (BLVR018)
• 7m @ 56.5% Fe from 17m (BLVR024)
• 19m @ 62.1% Fe from 10m (BLVR029)
	(refer ASX announcement 23rd September for details)
The drilling was undertaken by Pilbara Manganese Pty Ltd (Consolidated Minerals Ltd) as part of a much
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larger group of tenements it explored in 2010. There has not been a significant follow-up program to investigate the significance of these results.

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For personal use only

Figure 2. Oakover West Project showing the Blue Valley prospect, rock chip sample results

highlighting the recently granted Davis River licence (E46/1382).

Figure 3. Blue Valley Manganese and Iron mineralisation

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This announcement has been approved by the Board of Black Canyon Limited.

For further details:	For media and broker enquiries:
only	Andrew Rowell
Brendan Cummins
Executive Director	White Noise Communications
Telephone: [phone]	Telephone: [phone]
Email: [e-mail]	Email: [e-mail]
About Black Canyon
use
Black Canyon has entered into a farm-in and joint
venture with ASX listed Carawine Resources Limited
(ASX:CWX) to acquire a majority interest in the
Carawine Project in Western Australia. The Carawine
Project covers approximately 800km2 of tenure
located south of the operating Woodie-Woodie
manganese mine, providing a large footprint in a
proven and producing manganese belt. Black Canyon
personal
has also applied for and acquired other exploration
licences adjacent to the Carawine Project that would
increase the total land holdings to over 2500km2 on
grant. In addition to manganese, the Carawine Project
also hosts multiple copper occurrences including the
Western Star prospect which comprises a large zone
f surface copper enrichment.
The Company has also secured the Lofty Range
manganese project located immediately to the west of
the Butcherbird manganese deposit being developed
by Element 25.
Manganese and copper continue to have attractive
fundamentals with growing utilisation in the battery
mineral sector and challenging supply conditions.
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Compliance Statements

Reporting of Exploration Results and Previously Reported Information

The information in this report that relates to historic Exploration Results is based on, and fairly represents, information and supporting documentation reviewed by Mr Brendan Cummins, Executive Director of Black Canyon Limited. Mr Cummins is a member of the Australian Institute of Geoscientists and he has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Cummins consents to the inclusion in this release of the matters based on the information in the form and context in which they appear. Mr Cummins is a shareholder of Black Canyon Limited.

For further information, please refer to ASX announcement dated 23 September 2021 which is available from the ASX Announcement web page on the Company's website. The Company confirms that there is

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