CEO Ian Levy Talks with Brian Carlton on Bauxite Resource Results
Sydney, Aug 16, 2010 (ABN Newswire) - Australian Bauxite Limited (
ASX:ABZ) CEO Ian Levy Talks with Brian Carlton on Bauxite Resource Results
At ABx's northernmost bauxite deposit at Binjour in central QLD, encouraging thicknesses of a concealed bauxite layer up to 15 metres thick were encountered and two-stages of drilling were completed in July. A thick bauxite layer has been discovered at Binjour with early assays indicating high qualities.
ABx CEO, Ian Levy said; "This is the most aggressive and successful exploratory drill program I've seen. The ABx exploration team is achieving rapid discovery rates and a massive increase in geological knowledge about this large, new bauxite province that ABx has discovered over 1,400 kms from central Queensland to Tasmania.
"In March 2010, we told shareholders we wanted to accelerate exploration and our team has already delivered on that promise. We could be drilling our exciting Tasmanian deposits before year-end, thus completing a first-pass evaluation of all our projects 6 months ahead of schedule."
Listen to the Audiocast here:
http://www.abnnewswire/press/en/63528/Ian-Levy
About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) is a uniquely positioned Australian company delivering materials for a cleaner future.
The three priority projects are:
- Heavy rare earths: Supplying light and heavy rare earths from Tasmania into Western supply chains
o Processing Options Analysis conducted in partnership with external experts
- Clean fluorine chemical production: Producing industrial chemicals from aluminium smelter by-product (ALCORE)
o Continuous pilot plant under construction in Bell Bay, Tasmania
- Near-term bauxite production: Mining bauxite resources for the aluminium, cement and fertiliser industries
o Agreements executed with Good Importing International for bauxite projects in Queensland and New South Wales, and $2.7 million initial payment has been received
o Approvals well advanced for DL130 bauxite project in northern Tasmania
ABx endorses best practices on agricultural land and strives to leave land and environment better than we find it. We only operate where welcomed.
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