[Ferro-Alloys.com] Continued High-Grade Manganese and Iron Results From Wandanya

• Final results from the remaining 92 holes of the Phase 3 drill program at Wandanya have been received confirming further thick, shallow high-grade manganese and iron mineralisation

• Drilling has delineated manganese mineralisation along 3km of strike with cross strike widths between 160m and 500m, remaining open to the north, south and east.

• Drilling has also defined outcropping to shallow iron mineralisation over 1 km of strike with cross-strike widths between 160m to 320m, remaining open to the north.

• A diamond drill program to obtain core samples for metallurgical testwork is planned to commence at Wandanya in early November.

Australian manganese explorer and developer, Black Canyon Limited (Black Canyon or the Company) is pleased to announce the remaining assay results from Phase 3 RC drilling1,2 at the Wandanya Project (BCA 100%). Drilling to date has consistently encountered shallow stratabound manganese mineralisation over at least a 3km strike. whilst drilling into the iron targets has delineated consistent high-grade iron (hematite dominated) mineralisation over 1km of strike. Both zones remain open.

Black Canyon’s Managing Director Brendan Cummins said:

“With each drill program and continued expansion of the Wandanya discovery we are building more confidence in the significance of the mineral system which we believe has high development potential for both manganese and iron.

“The mineralisation footprint continues to expand the size and grade understanding across the project with some of the recent manganese drill intercepts reporting grades over 40% Mn over several metres. At those grades and widths, we are considering them as potentially direct shipping ores (DSO) which reduces OPEX and presents another value-add opportunity.

“Like previous drill programs, the Phase 3 RC drilling results had a very high drill intersect strike rate with 144 of the 148 drill holes reporting either manganese or iron mineralisation. This is quite remarkable considering we have undertaken discovery drilling to extend the footprint rather than infill drilling and is a testament to the continuity of the shallow dipping manganese and iron horizons over hundreds of metres.

“There are very few discoveries that have so many developmental key criteria and at Wandanya we are pleased that the discovery is at or near surface, high grade, and has scale with potential for both iron and manganese DSO in addition to beneficiation upgrades on the moderate grade manganese.

“With over $11 million in cash at the end of the September quarter, Black Canyon is in a strong position to continue progressing the project on multiple fronts, including further extension drilling to the north, south and east of the 3km long Wandanya discovery, infill drilling, diamond core drilling for larger scale metallurgical testwork, project development studies and also regional exploration across the Company’s extensive tenement portfolio.

We will be shortly commencing our first diamond core drill program that will provide further insight into this unique mineralisation and material for metallurgical testwork, following up from positive testwork completed to date3,4.”

Manganese Assay Results

Phase 3 RC drilling completed at Wandanya totalled 148 holes for 3,838m of drilling with drill line spacing ranging between 100m, 200m and up to 300m, and hole centres at 40m. Total drill meterage for the Wandanya project since commencement is 6,777m for 284 drill holes with an average drill depth of only 24m.

Assay results and associated quality control/assurance (QAQC) data has been received and approved for all holes.

Drilling has defined manganese mineralisation along 3km of strike from the southern boundary of the tenement. The latest assay results confirm the lateral continuity of the stratabound manganese mineralisation with drilled cross-strike widths between 440m and 480m and remaining open to the east on multiple lines.

The shallow, higher grade mineralisation is associated with thick intervals of manganese oxide, while further to the east the shallow dipping stratabound mineralisation transitions to manganese carbonate.

Cross-sections and drill plans are presented in Figures 2-5. Significant manganese and iron assay results are presented in Table 1 and Table 2 respectively. All Phase 3 assay results are presented in Appendix.

Iron Assay Results

At the conclusion of the Phase 3 drill program iron mineralisation has now been identified along 1km of strike from drill holes along 6 cross lines indicating mineralisation widths of 160 to 200m and intersects up to17m thick. Mapping to the north has identified iron mineralisation extending over at least a further 3km from the most northern drill line completed by the Company representing further updside.

Next Steps

• A diamond drill program collecting larger diameter core samples (PQ3) is scheduled to commence in early November with plans to drill up to 500m of core for further metallurgical testwork.

The core samples will be sent to the metallurgical laboratory to further understand the beneficiation characteristics of the manganese oxide at various grades and the key crush/screen grade profile parameters of the iron mineralisation.

The objective of this detailed metallurgical program is to build on the previously reported positive results and to optimise and improve our understanding of the manganese grade and recovery. The information can provide guidance to flowsheet design capable of delivering a consistent high quality manganese oxide concentrate.

• A week-long heritage survey is also planned at the end of November. The heritage survey is being completed for access to planned infill and extension RC drilling to commence as early as possible after the wet season in 2026.

• The finalisation of the Ndalamo tenements acquisition is also anticipated that will enable the Company to test outcropping and potentially buried southern extensions to the Wandanya mineral system.

• [Editor:tianyawei]