Australian Bauxite Limited (ASX:ABZ) Announce 16.8 Million Tonnes Maiden Binjour Resource
Emerging bauxite exploration and development company, Australian Bauxite Limited (ASX:ABZ) has discovered a thick layer of very high quality bauxite at its Binjour project in central QLD. The bauxite lies beneath a clay horizon. Results from 88 holes into the bauxite are generally exceptionally high grade, thick gibbsite bauxite, ideal as a "sweetener" to any bauxite refinery. ABx refers to such high grade bauxite as "Brown Sugar" which commands a large price premium.