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Sydney, June 13, 2012 (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) has received laboratory and exploration results from drilling and surface exploration at its Binjour Bauxite Project in central QLD (see Figure 1).
133 holes drilled in 2012 have intersected a thick layer of bauxite located beneath a surface clay horizon, including some exceptionally high grade, thick gibbsite bauxite, ideal as a "sweetener" to any bauxite refinery. Complete results are listed in the Appendix and averaged in Table 1 as follows:
Australian Bauxite CEO Ian Levy said; "Binjour hosts a fine bauxite deposit, containing premium grade bauxite. It is very exciting to discover the southern half of the large Binjour plateau with bauxite lying right at surface.
"The Binjour Bauxite Project is destined to sell large tonnages of bauxite to alumina refineries needing "sweetener" bauxite that processes at low temperature and with low reactive silica contents.
"We call this "Brown Sugar" bauxite - sweet and greatly sort after. It will become a brand name."
South Binjour Bauxite Plateau Discovered
The South Binjour Bauxite Plateau has been secured by exploration permit application EPMA 19742 as shown in Figure 2 below. This prospect lies immediately south of the Binjour Bauxite Plateau across the Burnett River and contains bauxite at surface.
Bauxite at Surface on South Binjour Plateau
ABx has developed non-invasive sampling methods using a hand held XRF device, based on proprietary protocols developed by ABx. The following results come from analyses based on this method, which correlates laboratory obtained bauxite assays with the XRF field results. (Sample locations are shown on Figure 2).
Logistical Setting
In addition to the sealed Burnett Highway, a disused rail line sits at the southern end of the Binjour lease which requires significant upgrading. Engineering studies and government discussions have been underway for several months to find a cost-effective solution. The Binjour Bauxite Project is near regional cities, power, water and a pro-development workforce.
Resource Estimation Underway
Good continuity of bauxite qualities and thickness on Swains Plateau led to a maiden resource estimation of 16.8 million tonnes in October 20114. The extent of bauxite has been extended by drilling during 2012 and, subject to further laboratory results, a resource upgrade has commenced.
To view the complete Australian Bauxite announcement including Tables, Figures and Appendix: Bauxite Intercepts at Binjour, please click the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-682095.pdf
ASX:ABZ) has received laboratory and exploration results from drilling and surface exploration at its Binjour Bauxite Project in central QLD (see Figure 1).133 holes drilled in 2012 have intersected a thick layer of bauxite located beneath a surface clay horizon, including some exceptionally high grade, thick gibbsite bauxite, ideal as a "sweetener" to any bauxite refinery. Complete results are listed in the Appendix and averaged in Table 1 as follows:
Australian Bauxite CEO Ian Levy said; "Binjour hosts a fine bauxite deposit, containing premium grade bauxite. It is very exciting to discover the southern half of the large Binjour plateau with bauxite lying right at surface.
"The Binjour Bauxite Project is destined to sell large tonnages of bauxite to alumina refineries needing "sweetener" bauxite that processes at low temperature and with low reactive silica contents.
"We call this "Brown Sugar" bauxite - sweet and greatly sort after. It will become a brand name."
South Binjour Bauxite Plateau Discovered
The South Binjour Bauxite Plateau has been secured by exploration permit application EPMA 19742 as shown in Figure 2 below. This prospect lies immediately south of the Binjour Bauxite Plateau across the Burnett River and contains bauxite at surface.
Bauxite at Surface on South Binjour Plateau
ABx has developed non-invasive sampling methods using a hand held XRF device, based on proprietary protocols developed by ABx. The following results come from analyses based on this method, which correlates laboratory obtained bauxite assays with the XRF field results. (Sample locations are shown on Figure 2).
Logistical Setting
In addition to the sealed Burnett Highway, a disused rail line sits at the southern end of the Binjour lease which requires significant upgrading. Engineering studies and government discussions have been underway for several months to find a cost-effective solution. The Binjour Bauxite Project is near regional cities, power, water and a pro-development workforce.
Resource Estimation Underway
Good continuity of bauxite qualities and thickness on Swains Plateau led to a maiden resource estimation of 16.8 million tonnes in October 20114. The extent of bauxite has been extended by drilling during 2012 and, subject to further laboratory results, a resource upgrade has commenced.
To view the complete Australian Bauxite announcement including Tables, Figures and Appendix: Bauxite Intercepts at Binjour, please click the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-682095.pdf
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About Australian Bauxite Limited
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.
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