Australian Bauxite Limited (ASX:ABZ) Received High Grade Bauxite Drill Result For Binjour Project, Queensland
Sydney, Feb 9, 2011 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) (ABx) has received laboratory results from the last 14 holes drilled at its Binjour project located between Gayndah and Mundubbera, south of Gladstone in central Queensland.
Of the 14 holes drilled in the last phase of drilling in 2010, 11 holes intersected a thick layer of bauxite. Results from these 11 holes include exceptionally high grade, suggesting relatively pure gibbsite bauxite, ideal as a "sweetener" to any bauxite refinery.
Australian Bauxite CEO Ian Levy said; "Binjour may prove to be a very high quality bauxite deposit, shippable in large tonnages to a number of bauxite-alumina refineries that need "sweetener-grade" bauxite that can be processed at low temperature and with exceptionally low reactive silica contents.
"We've called this bauxite type "Brown Sugar" bauxite - which may become a brand name in the industry one day. Some customers may become dependent on this product and pay quite handsomely for it."
TARALGA EL 7269 & EL 7681
40km N of Goulburn, southern NSW
During 2010, bauxite resources totalling 12 million tonnes were identified from first-pass drilling at Taralga and announced on 6 December 2010. More than half of the resources are easily mined Direct Shipping Ore "DSO" grade bauxite suitable for direct shipping to customers that require gibbsite-rich bauxite, which is the premium quality bauxite that is in highest demand globally.
The bulk of these initial resources came from Areas B & C in Figure 4 (see link at the bottom of the release) but a new bauxite deposit has been discovered in the Southeast of the tenement at Area A in Figure 4 and this is now being drilled as a matter of priority. During the January drilling cycle, a total of 225 holes were drilled in Area A and some zones of exceptionally thick bauxite layers were discovered, including one hole that intersected bauxite from surface to 18 metres depth. This deposit extends westwards from the original exploration licence EL 7357 into the newly granted EL 7681 and 20 of the 225 new drillholes were drilled in EL 7681 within 14 days of it being granted. Operations in both areas are being conducted pursuant to Review of Environmental factors approved by the NSW Department of Primary Industry.
The new deposit in Area A appears significantly larger than the deposits in Areas B & C, both in thickness and areal extent.
TASMANIA EL4/2010 to EL9/2010 & EL14/2010 (1,639 km2)
Drilling in Tasmania was done on grazing and cropping farmland around Campbell Town in the Tasmanian midlands. Bauxite has been encountered in drill holes and in surface sampling. Initial results have been compiled for Deloraine (EL 9/2010). Results to date are from the edges of the deposit and from some outlier occurrences of bauxite and they demonstrate that Direct Shipping Ore grades occur in reasonable thicknesses, for example 7 metres of bauxite in hole DL025.
Results from the main part of the deposit that was drilled immediately before the year-end shutdown are pending from the laboratory.
For the complete Australian Bauxite Limited announcement including tables, figures and drilling schedule, please view the following link:
http://www.abnnewswire.net/media/en/docs/65180-ASX-ABZ-623184.pdf
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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