Sydney, Feb 18, 2010 (ABN Newswire) - Australian Bauxite CEO Ian Levy speaks with Brian Carlton at the Symposium Resources Roadshows in Sydney.
Australian Bauxite Limited (ABx) (ASX:ABZ) is an Australian exploration company that was admitted to the Official List of the Australian Stock Exchange on 21 December 2009. ABx was formed specifically for the purpose of acquiring the bauxite interests of Hudson Resources Limited; increasing the value of the portfolio through a staged development program in each of three bauxite provinces which will include exploration sampling, drill testing & analyses from a wide range of targets on all exploration tenements; resource definition drilling and bauxite metallurgical testwork on the more advanced prospects.
The ABx project tenements consist of seventeen exploration tenements granted or under application covering over 5,000 sq kms of ground considered prospective for bauxite; 3,477 sq kms in NSW and 1,617 sq kms in Queensland.
The bauxite deposits are located close to existing transport and other infrastructure, close to coal mines, industrial centres and ports on the east coast of Australia.
Australian Bauxite Limited (ABx) (ASX:ABZ) holds the core of the newly discovered Eastern Australian Bauxite Province. Its 37 bauxite tenements in Queensland, NSW and Tasmania covering 8,500 km2 were rigorously selected on 3 principles: 1. good quality bauxite; 2. proximity to infrastructure connected to export ports; and, 3. free of socio-environmental or native title land constraints.
All tenements are 100% owned and free of obligations for processing and third-party royalties. ABx has already discovered many bauxite deposits and new discoveries are still being made as knowledge and expertise grows.
The company's bauxite is high quality and can be processed into alumina at low temperature – the type that is in short-supply globally. Global resources declared to date are 68 million tonnes. At the company's first drilling prospect in Inverell, northern NSW, an interim resource of 35 million tonnes has been reported from drilling 15% to 20% of the area prospective for bauxite and a resource of 25 million tonnes of bauxite has been reported at the Taralga project in southern NSW. 6 million tonnes maiden resource was declared at Guyra. Results from the Binjour Plateau in central QLD confirm that ABx has discovered a significant bauxite deposit including some bauxite of outstandingly high quality. Australian Bauxite Limited aspires to identify large bauxite resources in the Eastern Australian Bauxite Province which is emerging as one of the world's best bauxite provinces.
ABx has the potential to create significant bauxite developments in three states - Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
Contact
Investor Relations Henry Kinstlinger Australian Bauxite Limited Telephone: +61-2-9251-7177
ASX:ABZ) is an Australian exploration company that was admitted to the Official List of the Australian Stock Exchange on 21 December 2009. ABx was formed specifically for the purpose of acquiring the bauxite interests of Hudson Resources Limited; increasing the value of the portfolio through a staged development program in each of three bauxite provinces which will include exploration sampling, drill testing & analyses from a wide range of targets on all exploration tenements; resource definition drilling and bauxite metallurgical testwork on the more advanced prospects.
Australian Bauxite Limited
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