Quarterly Activities and Cashflow Report
Perth, April 30, 2014 AEST (ABN Newswire) - Bauxite Resources Limited ("BRL" or the "Company") (
ASX:BAU) has broadened its focus from pure exploration to include expansion exploration and mining development appraisal of bauxite within its extensive tenement holding in Western Australia's Darling Range, the largest bauxite and alumina-producing region in the world. Currently the Company and its Joint Venture partners hold ~8,598km2 (5,202m2 granted). Through a process of low cost targeting and exploration activities the Company has successfully identified 379.5 Million Tonnes (Mt) of refinery grade bauxite.
Highlights:
- Two new bauxite deposits identified (both unbeneficiated):
Dionysus: 20.3Mt @ 42.1% Total Al2O3 (32.6 % available @ 148°C), 12% SiO2 (3.4% reactive @148°C)
Athena: 22.7Mt @ 42.3% Total Al2O3 (33.3 % available @ 148°C), 17.3% SiO2 (2.7% reactive @148°C).
- Bauxite resources held by Bauxite Resources Limited ("BRL") and its joint venture partners total 379.5Mt. Resources are near surface, situated close to existing road and rail and port infrastructure.
- Initial environmental constraints study at BRL's 100% owned Fortuna resource identified few constraints for mining development. Level 2 baseline studies are planned for spring 2014.
- Preliminary engagement with engineering groups to undertake engineering scoping of Fortuna as part of the Company's assessment of potential DSO shipments.
- Exploration drilling scheduled for June quarter on properties adjacent to the new Athena resource.
- Discussions underway with Yankuang on path forward of Joint Venture agreements.
- Cash at bank A$42.1 million and no debt.
To view the complete quarterly activities and cashflow report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BAU-675713.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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