CEO Ian Levy Talks with Brian Carlton on Bauxite Resource Results
Sydney, Aug 16, 2010 (ABN Newswire) - Australian Bauxite Limited (
ASX:ABZ) CEO Ian Levy Talks with Brian Carlton on Bauxite Resource Results
At ABx's northernmost bauxite deposit at Binjour in central QLD, encouraging thicknesses of a concealed bauxite layer up to 15 metres thick were encountered and two-stages of drilling were completed in July. A thick bauxite layer has been discovered at Binjour with early assays indicating high qualities.
ABx CEO, Ian Levy said; "This is the most aggressive and successful exploratory drill program I've seen. The ABx exploration team is achieving rapid discovery rates and a massive increase in geological knowledge about this large, new bauxite province that ABx has discovered over 1,400 kms from central Queensland to Tasmania.
"In March 2010, we told shareholders we wanted to accelerate exploration and our team has already delivered on that promise. We could be drilling our exciting Tasmanian deposits before year-end, thus completing a first-pass evaluation of all our projects 6 months ahead of schedule."
Listen to the Audiocast here:
http://www.abnnewswire/press/en/63528/Ian-Levy
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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