Binjour Bauxite Project Update
Sydney, June 13, 2012 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) has received laboratory and exploration results from drilling and surface exploration at its Binjour Bauxite Project in central QLD (see Figure 1).
133 holes drilled in 2012 have intersected a thick layer of bauxite located beneath a surface clay horizon, including some exceptionally high grade, thick gibbsite bauxite, ideal as a "sweetener" to any bauxite refinery. Complete results are listed in the Appendix and averaged in Table 1 as follows:
Australian Bauxite CEO Ian Levy said; "Binjour hosts a fine bauxite deposit, containing premium grade bauxite. It is very exciting to discover the southern half of the large Binjour plateau with bauxite lying right at surface.
"The Binjour Bauxite Project is destined to sell large tonnages of bauxite to alumina refineries needing "sweetener" bauxite that processes at low temperature and with low reactive silica contents.
"We call this "Brown Sugar" bauxite - sweet and greatly sort after. It will become a brand name."
South Binjour Bauxite Plateau Discovered
The South Binjour Bauxite Plateau has been secured by exploration permit application EPMA 19742 as shown in Figure 2 below. This prospect lies immediately south of the Binjour Bauxite Plateau across the Burnett River and contains bauxite at surface.
Bauxite at Surface on South Binjour Plateau
ABx has developed non-invasive sampling methods using a hand held XRF device, based on proprietary protocols developed by ABx. The following results come from analyses based on this method, which correlates laboratory obtained bauxite assays with the XRF field results. (Sample locations are shown on Figure 2).
Logistical Setting
In addition to the sealed Burnett Highway, a disused rail line sits at the southern end of the Binjour lease which requires significant upgrading. Engineering studies and government discussions have been underway for several months to find a cost-effective solution. The Binjour Bauxite Project is near regional cities, power, water and a pro-development workforce.
Resource Estimation Underway
Good continuity of bauxite qualities and thickness on Swains Plateau led to a maiden resource estimation of 16.8 million tonnes in October 20114. The extent of bauxite has been extended by drilling during 2012 and, subject to further laboratory results, a resource upgrade has commenced.
To view the complete Australian Bauxite announcement including Tables, Figures and Appendix: Bauxite Intercepts at Binjour, please click the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-682095.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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