Black Canyon’s Tenement Deal Raises Stakes Ahead of Critical 2026 Drilling

• Settlement of Ndalamo acquisition adds 229km² to Black Canyon’s landholding
• New tenements extend high-grade manganese and iron strike by up to 400m
• Field mapping confirms continuation of mineralised horizons and iron-rich formations
• Initial drilling program scheduled for Q2 2026 to test new targets
• Acquisition settled via shares and options with all conditions precedent met

Strategic Expansion in the East Pilbara

Black Canyon Limited (ASX – BCA) has taken a significant step forward in consolidating its position within the Balfour Manganese Field (BMF) by settling the acquisition of Ndalamo Platinum Pty Ltd. This transaction adds 229 square kilometres of tenements surrounding the company’s flagship Wandanya manganese and iron project, located in the underexplored east Pilbara region of Western Australia.

The newly acquired tenements, including EL46/1571 and EL46/1572, are strategically positioned immediately south and north of the existing Wandanya discovery. This expansion effectively extends the strike length of the high-grade manganese and iron mineralisation that Black Canyon has been delineating, with field mapping confirming a continuation of manganese-rich horizons for 300 to 400 metres onto the southern tenement.

Unlocking New Mineralisation Potential

Beyond manganese, the acquisition has revealed iron-rich formations on EL46/1571 that share mineralogical and textural characteristics with the high-grade hematite outcrops previously drilled on Black Canyon’s adjacent ground. These iron-rich outcrops stretch intermittently over 1.8 kilometres along the target corridor, suggesting a potentially significant extension of the mineralised system.

Black Canyon’s Managing Director Brendan Cummins highlighted the strategic value of the acquisition, noting that the southern tenement provides an immediate step-change in the prospective strike length of the Wandanya system. The company plans to undertake comprehensive data compilation and mapping to refine drill targets, with an initial drilling campaign slated for the second quarter of 2026.

Transaction Details and Market Implications

The acquisition was settled through the issuance of two million fully paid ordinary shares and two million unlisted options exercisable at 14 cents within three years, following the fulfillment of all conditions precedent, including tenure grants. This approach aligns with Black Canyon’s strategy to grow its resource base while managing capital efficiently.

With a global mineral resource estimate of 315 million tonnes at 10.5% manganese already defined across its BMF projects, Black Canyon’s expanded footprint and upcoming drilling program could materially enhance the scale and grade profile of the Wandanya discovery. Given manganese’s critical role in steel alloys and lithium-ion battery cathodes, the company’s progress comes at a time of sustained demand for this essential mineral.

Looking Ahead

As Black Canyon prepares for its next phase of exploration, the market will be watching closely for drill results that could validate the expanded strike potential and underpin future resource upgrades. The company’s methodical approach to consolidating tenure and advancing exploration underscores its commitment to unlocking value in one of Australia’s most promising manganese provinces.

Bottom Line?

Black Canyon’s expanded tenement position sets the stage for a pivotal drilling campaign that could redefine the scale of its Wandanya manganese and iron project.

Questions in the middle?

• Will the upcoming Q2 2026 drilling confirm the continuity and grade of the newly acquired mineralisation?
• How might the expanded strike length impact Black Canyon’s overall resource estimates and project valuation?
• What are the potential timelines and capital requirements for advancing the Wandanya project toward development?