Exploration for Gold, Iron Ore and Coal
Perth, Oct 8, 2012 AEST (ABN Newswire) - Perth-based bauxite explorer and developer, Bauxite Resources Limited (
ASX:BAU) is pleased to provide an update on exploration progress for non bauxite minerals within its exploration licence tenure in Western Australia. The Company holds granted and pending exploration licences over an area of approximately 25,000 km2 in the highly prospective Darling Range in the south west of WA. The Company has two significant joint ventures for bauxite within this area and has retained rights to 100% of other minerals within its licences.
The Company is investigating the geological potential for non-bauxite commodities within the current tenement package. Multiple areas have been identified as potentially prospective for gold, coal or iron ore based on the Company's mineral targeting dataset and geophysical data obtained from the Geological Survey of WA. Due to the success of the work to date and the large data set that has been generated, the Company geologists have recommended that further review is justified.
As a consequence of the initial review results, the Company has decided to rationalise its tenement package in both the south west and the Kimberley. The Company has applied for an additional exploration licence in the south west of WA where the review has identified a possible sedimentary basin with a similar geophysical response to known coal bearing basins and has relinquished a number of other licences in the south west and the Kimberley.
The Company will immediately commence further exploration activities designed to refine a number of potential target areas and to confirm geological models. The majority of the work will be low cost being conducted "in-house" by Company geologists and will initially target the following outcomes;
1. Complete the compilation of data into a digital format for the two most prospective gold areas near Yerecoin and Beverley.
2. Carry out initial low level field activity designed to validate potential iron ore (haematite) targets.
3. Continue investigations into geological logging data from historical drilling made available by third parties.
Summary of Review findings;
GOLD:
The review identified a number of target regions in known greenstone belts, and areas with potential to contain remnant greenstones based on geophysical interpretation. Potential was also recognised for epithermal gold similar to a number of documented old workings. Individual target regions have been grouped into five broad geographic or project areas, namely Jimperding, Darling Fault, Boddington, Balingup and Biranup.
Points to note;
- More potential has been identified than envisaged and further review is required to properly assess and refine the areas identified.
- Initially, work will focus on the Jimperding project area, within two regions of interpreted greenstone, each ~50km long.
- Work will be carried out in house by BRL geologists and will focus on the incorporation of publicly available open file reports with GIS datasets with the aim to further refine the data set in order to identify specific geological targets within the areas identified.
- Geophysical data for the Biranup area is not yet available and no further work will be carried out in that area until the Geological Survey of WA has released aerial survey results early in 2013.
IRON ORE:
Iron ore targets based on geophysical interpretation were identified with a wide geographical spread across BRL tenure. It is believed that all may relate to magnetite bearing units, while two will be followed up with low level field work to investigate the possibilty of haematite mineralisation.
COAL:
Possible coal target opportunities were identified principally based on geophysical signatures. Potential targets included:
- A Department of Water ("DoW") drill hole with coal identified in the logging.
- A number of interpreted sedimentary basins that may be investigated for the potential to host coal.
- A target west of Katanning was not within BRL tenure and the Company has immediately applied for an exploration licence over this area.
Priority areas of interest will be further assessed during the December 2012 quarter and an update will be provided once that work is complete.
About Bauxite Resources Limited
Bauxite Resources (ASX:BAU) (OTCMKTS:BXRDF) was established with a substantial tenement holding in Western Australia to develop new bauxite supply for the global alumina/aluminium industry. The Company listed on the Australian Securities Exchange (ASX) in October 2007.
The Darling Range in the south-west of Western Australia (WA) is the world's largest bauxite mining and alumina refining region producing around 20% of the world's alumina. This area has mined bauxite and refined alumina since the 1960s. These industries are leaders in sustainable resource development and represent the fifth largest sector of WA's resource industry.
| ||
|
