Australian Bauxite Limited (ASX:ABZ) Applies For Eight New Bauxite Exploration Tenements Totalling 1,508km2 in Tasmania
Sydney, Mar 9, 2010 AEST (ABN Newswire) - Emerging Australian bauxite company, Australian Bauxite Limited (
ASX:ABZ) has applied for eight (8) new bauxite exploration tenements in Tasmania covering an area totalling 1,508 square kilometres (km2) and containing good quality bauxite in favourable settings for potential development.
Australian Bauxite Limited CEO, Ian Levy said; "These unexpectedly high quality bauxite discoveries are especially exciting because they are all in cleared land, near to rail transport networks leading directly to major export ports in a state with a well-developed mining sector. There are also coal mines and an aluminium smelter nearby which could assist in making the processing of bauxite in Tasmania attractive.
"Because of this major expansion in our tenement areas, we intend to step-up our exploration efforts to accelerate the rate of expansion in our JORC-compliant resources and to establish project prioritisation.
"These new discoveries of bauxite demonstrate that the disciplined work by our exploration team led by Jacob Rebek since 2006, and Tamara Coyte in Tasmania, has given us control of the core of the Eastern Australian Bauxite Province which we believe contains better bauxite than most bauxites world-wide."
For the complete Australian Bauxite ASX Announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/62410-ASX-ABZ-585794.pdf
About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) started as a bauxite miner in Tasmania in 2014 & controls the Eastern Australian Bauxite Province. In 2020 to 2023, ABx also discovered Australia’s only true ionic adsorption clay Rare Earth Elements resource at Deep Leads in pine plantations 40km west of Launceston with a JORC-compliant resource of 89 million tonnes from only 29% of the mineralised outline, averaging 844 ppm total rare earth oxides that is the most enriched in the critically important rare earths, Dy and Tb, of any Australian REE deposit.
ABx has also developed a proprietary technology to produce fluorine chemicals from an aluminium smelter waste product and return the fluorine back into the smelters, thus reducing reliance on imported aluminium fluoride.
ABx has committed a large proportion of its expenditure into Research and Development and has found ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and can be separated into different product streams using physical, chemical and geophysical methods. It has produced and marketed specialist bauxite products for the manufacturers of fertiliser, cement with high late strength for major infrastructure such as bridges and is in the advanced stages of approvals for production of metallurgical bauxite from its Binjour Bauxite deposit with JORC-compliant resources of 37 million tonnes of bauxite, in a joint development with a Chinese-focussed Australian trading company Good Importing International.
ABx is also preparing to produce fertiliser grade and cement grade bauxite from its DL130 bauxite quarry in northern Tasmania, 40km west of Launceston. This quarry is sited in the middle of the large Deep Leads REE deposit and may one day be a site for heap leaching of the REE using a low-cost, benign leachate with the same acidity as apple juice or tea.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
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