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Sydney, June 14, 2012 (ABN Newswire) - Australian Bauxite Limited (
ASX:ABZ) advises that it has released a webcast with CEO Ian Levy.
Mr. Levy speaks on the latest announcement regarding the Extended Binjour Bauxite Project, highlights of the announcement include;
High Grade "Brown Sugar" Bauxite Extended at Binjour Bauxite Project
Resource Upgrade Commenced
South Binjour Bauxite Plateau Discovered
- 133 new holes intersected high quality, thick bauxite at Binjour, Central QLD
- Surface exposures of bauxite have been discovered in a new area in the southeast
- Surface exploration further to the south and southeast has discovered the southern half of the Binjour Bauxite Plateau on the southern side of the Burnett River
- This South Binjour Bauxite Plateau discovery with bauxite exposed at surface has been secured by a large Exploration Permit application EPMA 19742
- Laboratory results from recent drillholes are being received and a resource upgrade for Binjour is underway
The audio interview can be heard on the ABx website on the NEWS tab and at http://abnnewswire.net/lnk/QH54303F
ASX:ABZ) advises that it has released a webcast with CEO Ian Levy.Mr. Levy speaks on the latest announcement regarding the Extended Binjour Bauxite Project, highlights of the announcement include;
High Grade "Brown Sugar" Bauxite Extended at Binjour Bauxite Project
Resource Upgrade Commenced
South Binjour Bauxite Plateau Discovered
- 133 new holes intersected high quality, thick bauxite at Binjour, Central QLD
- Surface exposures of bauxite have been discovered in a new area in the southeast
- Surface exploration further to the south and southeast has discovered the southern half of the Binjour Bauxite Plateau on the southern side of the Burnett River
- This South Binjour Bauxite Plateau discovery with bauxite exposed at surface has been secured by a large Exploration Permit application EPMA 19742
- Laboratory results from recent drillholes are being received and a resource upgrade for Binjour is underway
The audio interview can be heard on the ABx website on the NEWS tab and at http://abnnewswire.net/lnk/QH54303F
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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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Financial General | Mining | Bauxite | |
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