Abx has developed a highly successful exploration model for discovering high quality bauxite; this model has allowed the company to pinpoint the most prospective targets along Australia's eastern seaboard. Targets are prioritized on the on the basis of access to infrastructure and free of Native Title issues.
The selection of ground and exploration programs has moved apace and within three months of listing on the ASX in December 2009, a maiden JORC Resource of 22 million tonnes was announced for Inverell in February 2010. Seven months later a maiden resource of 5 million tonnes of high quality bauxite was announced at Taralga, within the Goulburn Bauxite Project. Since then there have been further discoveries which include Guyra with a maiden JORC Resource of 6 million tonnes.
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.
Australian Bauxite Limited T: +61-2-9251-7177 F: +61-2-9251-7500 WWW: www.australianbauxite.com.au