Australian Bauxite Limited (ASX:ABZ) 2011 Bauxite Drilling Program Underway Full Steam Ahead
Sydney, Jan 18, 2011 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) (ABx) has commenced an aggressive 2011 drilling campaign on schedule today in good weather at its fast developing bauxite project at Taralga, near Goulburn, southern NSW. The 2010 drilling campaign ended in Queensland and Tasmania in mid December 2010 and all drilling rigs were sent to Adelaide for full servicing in readiness for the start of the 2011 drilling program. All rigs are operational.
There has been no disruption to ALS Laboratories which analyses the company's bauxite results and results continue to be produced in a timely manner. Results are pending from the drilling done at Binjour and Tasmania in the days before drilling ceased in mid December 2010. These will be reported as available.
Managing director and CEO, Ian Levy said: "Company staff have monitored the impacts of flooding in Queensland, northern NSW and Tasmania by remote sensing techniques, a few safe site inspections and by landholder communications. The bauxite deposits have remained dry but access in Queensland and Tasmania was temporarily restricted by highway closures due to flooding in low lying areas. The exploration team's decision, based on experience, to close-down the two rigs at Binjour in QLD and Tasmania in mid December and recommence drilling at Taralga in southern NSW in mid January has been vindicated. We don't want either rig delayed during our massive 2011 drilling campaign."
TARALGA EL 7269
40km N of Goulburn, southern NSW
The bauxite resources at Taralga doubled to 12 million tonnes following first-pass drilling as 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.
A new style of gibbsite-rich bauxite has been discovered in the Southeast of the tenement and this will be further explored as a matter of priority.Drilling will be undertaken in accordance with a Review of Environmental Factors approved by the NSW Department of Industry and Investment. This approval enables resource definition drilling to be undertaken at Taralga without delay in 2011. Landholder relations are good and approvals to drill on schedule have been obtained.
For the complete Australian Bauxite Limited announcement including tables and figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/65022-ASX-ABZ-620989.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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