Strategy Update
Perth, May 25, 2016 AEST (ABN Newswire) - Bauxite Resources Limited (
ASX:BAU) advises that as part of its revised strategy and review of investment opportunities, it has secured an application exploration licence on ground prospective for Lithium.
The tenement, E74/595, was applied for by the wholly owned subsidiary Braeburn Resources Pty Ltd. It is proposed that the tenement will be reviewed in detail and an exploration plan prepared.
Lort River Lithium Project - E74/595
The Lort River Lithium Project is located between Ravensthorpe and Esperance and approximately 120 km east of the Mt Cattlin Lithium Mine in Western Australia, see figure 1 in link below. The project comprises an exploration licence application that covers 68 graticular blocks.
The application lies between Pioneer Resources Limited's recently pegged leases to the east (E74/581 and E63/1776) and Metalicity Limited's tenement (E74/574) to the west.
A Geoscience Australia stream sediment sample taken in the south of the tenement returned an elevated lithium value. Publically available soil geochemistry sampling is limited within the tenement however extensive soil geochemistry lithium anomalies exist along structural trends immediately adjacent to the tenement.
Assessment of the project area and advice of the planned exploration work programs will be provided in due course.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/5CWFJLZ3
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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