Tasmanian Bauxite Project Update
Sydney, July 24, 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 newly consolidated 11 Tasmanian exploration tenements totalling 1,897 square kilometres in central Northern Tasmania (Figure 1, see link below).
334 drill holes and 1,521 surface samples (some of substantial size) have been completed in Tasmania over the past 18 months and all results have been carefully assessed so as to define areas that may be suitable for a bauxite extraction and export project on the basis of:
1. Sufficient tonnages of thick, good quality low-silica, gibbsite-rich bauxite
2. Nearness to high-capacity transport routes linked to nearby mineral export ports
3. Most importantly, as free as possible of socio-environmental constraints that might prevent investment in a new business in central Northern Tasmania
As a result of this assessment, 2 outlying tenements are to be relinquished and 2 new tenements secured in areas of quarrying and cleared lands that contain bauxite. 1 new tenement has been offered for grant and 2 applications are pending. Community consultation and expert advice has led to a greater level of confidence that bauxite extraction could be viable in several of these areas once sufficient resources are identified and required approvals obtained.
Australian Bauxite CEO Ian Levy said; "Investing in Tasmania is only done after careful consideration of the risk-rewards situation based on expert advice. It requires an understanding of Tasmania's special circumstances.
"We believe that with goodwill and common sense, ABx can develop a viable project in Tasmania."
Logistical Setting
Central Northern Tasmania has good infrastructure, with an operating rail line passing through the bauxite areas as well as heavy haulage highways. Both rail and road link directly to efficient operating mineral export ports at Burnie and Bell Bay that have spare port capacity (see Figure 2).
Tasmania has a well-developed electric power grid based mainly on hydroelectric power and has ample water supplies in most areas. Natural gas from the Bass Strait field is distributed throughout Tasmania and there are many well-established population centres throughout the region.
Coal mining occurs in the Fingal Valley area east of the main bauxite areas and large cement works are operating in the area south of Devonport to the west of the bauxite areas.
Central Northern Tasmania has some of Australia's best steel fabrication and heavy machinery workshops as well as highly experienced earth moving and construction contractors.
In summary, the Tasmanian bauxite project areas in central Northern Tasmania are near regional cities, power, water and a pro-development workforce.
Bauxite Quality
To date, 11 target areas have been identified, numbered 1 to 11 in Figure 3.
Table 1 shows the typical surface sample results from the DSO Bauxite (see definitions in link below) discovered in these locations. Table 2 shows some of the drillhole results from the bauxite zones targeted for follow-up drilling in the near future. These initial drillhole results confirm that potentially economic thicknesses and grades of bauxite occur within the bauxite discovery areas in Tasmania.
These holes demonstrate that there are high grade bauxite zones within the Tasmanian bauxite target areas. Not all of the areas have been drilled.
To view the complete Australian Bauxite announcement including Tables and Figures, pleae click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-687051.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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