Australian Bauxite Limited (ASX:ABZ) Inverell-Pindaroi Drilling Program Successfully Completed And Pechey And Geham Prospects Drilling Commenced
Sydney, May 26, 2010 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) has successfully completed its current exploratory drilling program at Inverell-Pindaroi in northern NSW.
The drill rig and crews have now commenced drilling Pechey and Geham prospects at Hampton, southern Queensland.
The program objective is to first identify the bauxite layer and better define its boundary.
Then, additional holes are drilled to test for the consistency of the bauxite. Results to date have been satisfactory, in line with expectations and in some places, better than expected.
INVERELL EL 6997
20km NW of Inverell NSW
Total drilling completed at Inverell in 2009 and 2010 is 280 drillholes totalling 3,400 metres averaging 4.8 to 5.4 metres of bauxite thickness.
The thickest bauxite intercept in the 2010 drill campaign has been 9.4 metres in the centre of the tenement - a similar result to the 9.5 metres maximum thickness encountered in the 2009 drill campaign at the southern end of the tenement.
Resource estimation work will commence during July once all assay and analytical results are received from the laboratory.
PINDAROI EL 7268
7km NE of Inverell EL 6997 NSW
The thickest bauxite intercept of 12 metres is quite remarkable and the fact that this is the same maximum thickness that was estimated from detailed mapping is considered encouraging.
Pindaroi has potential for large tonnage deposits.
HAMPTON EPM 17790
20km N of Toowoomba QLD
Bauxite up to 13 metres has been intersected at the Pechey Deposit. The deposit has two layers in places - still awaiting laboratory results for definitive interpretations.
COMMENT ON DRILLING PROGRESS
The drilling program is proceeding faster than schedule and the target of 1,000 holes in 2010 across most of the company's tenements should be achieved. Landholder support has been positive in all areas.
Results at Inverell are confirming that the main deposits have the shape and high degree of consistency that was originally interpreted for these deposits. Barring any unexpected surprises in the assay results, which are still awaited, the Inverell deposits are relatively consistent and very extensive.
A major resource drilling program is considered the likely next step for this substantial bauxite resource area.
Results at Pindaroi have exceeded expectations - 12 metres of bauxite is uncommonly thick and the resource tonnage potential is high. However, because this was the first drill testing of Pindaroi, it is too early to predict the future developments at Pindaroi.
Early results at Pechey in the Hampton EPM in southern Queensland have been exciting, albeit geologically more complex than either Inverell or Pindaroi (as expected). Bauxite intercepts of 13 metres are most encouraging but because assays are still awaited, the relative ranking of Pechey deposit compared to other bauxite deposits is yet to be determined. Geham is also an interesting deposit located within 5 km of Pechey and together, these deposits may contain a large tonnage of bauxite.
For the complete Australian Bauxite Limited announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/62951-ASX-ABZ-593761.pdf
About Australian Bauxite Ltd
Australian Bauxite Limited (ABx) (ASX:ABX) has its first bauxite mine in Tasmania & controls the Eastern Australian Bauxite Province. ABx's 11 bauxite tenements in Queensland, New South Wales & Tasmania totalling 662 km2 are all 100% owned, unencumbered & free of third-party royalties. ABx's bauxite is gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature.
ABx has committed a large proportion of its expenditure into Research and Development to find ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and partitioned into layers, nodules, particles and grains of different qualities that can be separated into different product streams using physical, chemical and geophysical methods.
ABx has declared large Mineral Resources in northern NSW, southern NSW, Binjour in central QLD & in northern Tasmania.
ABx's first mine commenced at Bald Hill near Campbell Town, Tasmania in December 2014 - the first new Australian bauxite mine for more than 35 years.
ABx aspires to identify large bauxite resources in the Eastern Australian Bauxite Province and has created significant bauxite development projects in 3 states, Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
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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