Australian Bauxite Limited (ASX:ABZ) Announce High Grade Brown Sugar Bauxite Discovery at Guyra, NSW
Sydney, June 28, 2011 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) has received laboratory results from drilling at its Guyra project in NSW.
63 holes intersected a thick layer of bauxite located beneath a thin clay horizon, including some exceptionally high grade, thick gibbsite bauxite, ideal as a "sweetener" to any bauxite refinery.
Australian Bauxite CEO Ian Levy said; "This is our 2nd discovery of premium quality bauxite concealed under a thin clay layer. We hope to find a lot more.
"We may be able to sell large tonnages to bauxite-alumina refineries needing "sweetener" bauxite that processes at low temperature and has very low reactive silica contents.
"We've called this bauxite type "Brown Sugar" bauxite - sweet and greatly sort after. It may become a brand name in the industry one day.
"Being next to rail may help the Inverell-Guyra project get started early."
Logistical Setting
The best part of the bauxite discovered to date is immediately adjacent the standard gauge rail line connecting Guyra to Armidale, Werris Creek and thence to the heavy-duty rail to Newcastle minerals export port. Operations of the Guyra-Armidale rail has recently been suspended but the rail line is still in good condition, having recently been used for transportation of logging products.
Review of Environmental Factors
A Review of Environmental Factors (REF) has been submitted to the Department of Industry and Investment and is currently under consideration.
Resource Estimation Underway
Good continuity of bauxite qualities and thickness in places may lead to a maiden resource estimation, albeit based on only partial drilling of deposit zones that are still open and likely to be extended in coming months.
Further Work Planned
The bauxite deposit is open in many locations and many other deposits have been identified. Followup drilling of the Guyra discovery is being scheduled over the coming months in line with the REF.
For the complete Australian Bauxite Limited announcement including figures, tables and maps, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/639027.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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