Bauxite Discovery at New Portside Production Centre
Sydney, May 28, 2015 AEST (ABN Newswire) - Australian Bauxite Limited (
ASX:ABX) has started its first bauxite mine in Tasmania and holds the core of the Eastern Australian Bauxite Province. ABx's 37 bauxite tenements in Queensland, New South Wales & Tasmania exceed 5,000 km2 and were rigorously selected for (1) good quality bauxite; (2) near infrastructure connected to export ports; & (3) free of socio-environmental constraints. All tenements are 100% owned, unencumbered & free of third-party royalties.
ABx's discovery rate is increasing as knowledge, technology & expertise grows.
The Company's bauxite is high quality gibbsite tri-hydrate (THA) bauxite & can be processed into alumina at low temperature - the type in short supply globally.
Bauxite Discovery at New Portside Production Centre
- Australian Bauxite Limited (ABx) has received high grade assays from drill hole samples into the PR-18 bauxite deposit located north of Launceston and close to the Bell Bay export port, northern Tasmania.
- Results are mainly high-grade, direct shipping bauxite (DSO)
- ABx considers this Portside area to be the most likely third Bauxite Production Centre. ABx's business plan is to produce from 3 production centres so as to maximise blending to produce consistent products
- ABx's first two production centres are (1) the Campbell Town production centre which includes ABx's operating mine at Bald Hill and (2) the DL-130 Production Centre west of Launceston - see Figure 1 in link below.
- Initial bauxite resources for the Campbell Town production centre total 3.5 million tonnes.
- ABx's total bauxite resources for all regions total 119 million tonnes, of which 9.2 million tonnes are in Tasmania.
- The drilling program for the DL-130 area has concluded for 2015 and revised resource estimation will be conducted over coming months
- Once all assays from the new PR-18 discovery are received and interpreted, additional drilling of several other known targets within the Portside Production Centre area will be undertaken as a matter of some urgency and in Spring, important base line environmental studies will be conducted to confirm the initial assessment that there are no socio-environmental barriers to development.
Australian Bauxite CEO Ian Levy said; "This discovery is a result of ABx's proprietary exploration technology and efficient drilling by the ABx exploration team.
Bauxite potential in this area was downgraded by early explorers because surface samples were low grade. ABx encountered similar surface results but the ABx exploration technology showed that good bauxite should exist in this area.
So ABx drilled 68 reconnaissance drill holes and the 18th hole discovered this excellent bauxite in an ideal location."
Three Tasmanian production centres taking shape
- ABx's business plan is to produce bauxite from 3 production centres to achieve a consistent product specification. Portside is the most likely 3rd production centre.
- Bell Bay is the largest export port in Tasmania and is the bulk export for bauxite.
- All highways, rail and port infrastructures have sufficient spare capacity for the planned bauxite exports.
Bauxite Drill Results
Sixty-eight (68) reverse circulation drill holes, holes PR001 to PR068 were drilled in the Portside area during March-April. A total of 715 metres were drilled, and 63 metres were in bauxite.
See Figure 2 in link below for drill hole distribution and locations.
Based on inspection, the bauxite layer occurs beneath an overlying layer of unconsolidated sediments ranging up to 12 metres thick in places which has concealed the majority of this bauxite deposit.
The bauxite formation is a flat-lying layer ranging in thickness from 2 to 4 metres.
After careful logging of the drill samples, 171 metres of samples have been sent to the ALS Laboratory in Brisbane. Results are pending.
Initial results received: To confirm that good quality bauxite had in fact been discovered, nine (9) representative samples of the bauxite were collected and dispatched to the ALS Laboratory for prompt assaying. The results from these 9 samples are shown in Table 1 in link below.
To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/80053-ASX-ABZ-20150528.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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