Felicitas Resource Upgrade
Perth, Oct 28, 2013 AEST (ABN Newswire) - Bauxite Resources Limited (
ASX:BAU) ("BRL" or "the Company") is pleased to announce a resource upgrade for the Felicitas bauxite deposit in the Darling Range Western Australia.
The resource is situated on a small number of large private landholdings located approximately 60km north east of Perth, and 10km from the town of Wundowie.
The resource is less than 5 km from existing rail infrastructure providing a direct link to Kwinana Port being approximately 120km away.
The Felicitas resource is contained within the Company's Bauxite Alumina Joint Ventures ("BAJV") joint venture with Yankuang Resources Ltd ("Yankuang").
Table 1: Total Felicitas Deposit Resource Classification
-------------------------------------------------------------JORC QTY Al2O3% Al2O3% SiO2% Al2O3 (avail) to (Mt) (total)(available)(reactive) SiO2 (react) ratio-------------------------------------------------------------Measured 53.2 39.1 30.7 1.4 21.9Indicated 104 39.3 30.1 1.9 15.8Inferred 61.5 38.9 29.6 2.4 12.3-------------------------------------------------------------Total 218.7 39.1 30.1 1.9 15.8 -------------------------------------------------------------
Note - All grades are unbeneficiated
# Represents low temperature (148deg) bomb digestion
The previous resource estimate announced in May 2013 stood at 147.9Mt. The current increase of 70.8Mt has resulted from the analysis of an additional 714 vacuum drill holes, for which assays were pending at the time of the May resource upgrade.
The Felicitas bauxite project area is:
- situated on a small number of private landholdings;
- located approximately 60km north east of Perth, being 10km from the town of Wundowie;
- within ~5km of existing rail, providing a link to Kwinana Port approximately 120km away.
Peter Canterbury, BRL CEO commented on the upgrade, "The latest upgrade confirms the region as a world scale resource and the Felicitas resource alone is now sufficient to support a 1.25Mtpa alumina refinery for a period of nearly 50 years.
Felicitas lies immediately northwest of the Company's Fortuna resource. Combined resources of the two are now in excess of 250Mt, clearly identifying the northern Darling Range as a significant bauxite province.
With the proposed current drilling programs across both deposits further growth in this resource is expected in the near term.
This resource is now the largest JORC compliant resource in Australia outside the major Australian alumina producers."
Both the BAJV and BRL are currently undertaking mine development activities including mine planning and planning the commencement of environmental baseline studies.
BAJV has commenced resource drilling on another property adjacent to the existing resource. Recently the new Chairman of Yankuang, Mr Xinwen Zhang visited the Felicitas deposit and was impressed with the achievements of the resource definition and the scale of the resource.
To view the complete release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BAU-654472.pdf
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.
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