Australian Bauxite Limited (ASX:ABZ) Announces Bauxite Results From Binjour Project And Commences Drilling In Tasmania
Sydney, Oct 18, 2010 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) has received all laboratory results from the first pass drilling campaign at its Binjour Project south of Gladstone and 170km southwest of Bundaberg, central Queensland. These results confirm the discovery of a concealed layer of good quality bauxite. A new Exploration Permit application has been made to secure the extensions of this deposit at Binjour.
BINJOUR EPM 18014
170km SW of Bundaberg QLD
During exploration, an area of several square kilometres was discovered on the Binjour plateau that has a good quality bauxite layer concealed beneath a soft, freedigging overburden layer.
Bauxite at Binjour is unexpectedly extensive over a wide and diverse area, thus warranting surface mapping and a drilling strategy to delineate thicker, shallow, good quality zones which may justify early development.
Results from the 18 holes which intersected this concealed bauxite are set out in detail in the Appendix at the end of this report.
BINJOUR EXTENSION: NEW EPM APPLICATION
Based on the discovery of the concealed bauxite deposit at Binjour in mid 2010, ABx conducted an exhaustive assessment of the surrounding areas where extensions of the bauxite may occur. As a result of encouraging surface samples of bauxite, geological observations and the application of remote sensing techniques, a new Exploration Permit application was designed to secure the extensions of the Binjour bauxite province.
Plans are now in preparation to recommence drilling on the Binjour plateau.
TARALGA EL 7269
40km N of Goulburn, southern NSW
Drilling in the district around Goulburn in southern NSW has been successful on the two Project Areas drilled to date, namely Taralga located 40km north of Goulburn and Windellama, 40km south of Goulburn Inverell.
A maiden resource of 5.4 million tonnes of bauxite at Taralga was announced on 16 September 2010 and since then, another 10 days of drilling has continued to encounter extensions to the resources and has discovered two new bauxite deposits. Laboratory results are awaited.
A Review of Environmental Factors has been submitted for consideration by the Mines Department to enable further resource definition drilling to be undertaken at Taralga. No major impediments have been identified.
TASMANIA - 7 Exploration Licences Granted.
Drilling commenced.
The company is also pleased to announce that 7 of the 8 tenements in Tasmania have recently been granted.
The drill crews and equipment have been shipped to Tasmania and drilling commenced on 14 October on grazing and cropping farmland around Campbell Town in the Tasmanian midlands. Bauxite is being encountered in the drillholes and in surface sampling. Laboratory results of the drillhole samples will take approximately 6 weeks.
For the complete Australian Bauxite Limited announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63970-ASX-ABZ-609708.pdf
About Australian Bauxite Ltd
Australian Bauxite Limited (ABx) (ASX:ABX) has its first bauxite mine in Tasmania & controls the Eastern Australian Bauxite Province. ABx's 11 bauxite tenements in Queensland, New South Wales & Tasmania totalling 662 km2 are all 100% owned, unencumbered & free of third-party royalties. ABx's bauxite is gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature.
ABx has committed a large proportion of its expenditure into Research and Development to find ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and partitioned into layers, nodules, particles and grains of different qualities that can be separated into different product streams using physical, chemical and geophysical methods.
ABx has declared large Mineral Resources in northern NSW, southern NSW, Binjour in central QLD & in northern Tasmania.
ABx's first mine commenced at Bald Hill near Campbell Town, Tasmania in December 2014 - the first new Australian bauxite mine for more than 35 years.
ABx aspires to identify large bauxite resources in the Eastern Australian Bauxite Province and has created significant bauxite development projects in 3 states, Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
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