Australian Bauxite Limited (ASX:ABZ) Announces Bauxite Results From Binjour Project And Commences Drilling In Tasmania
Sydney, Oct 18, 2010 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) has received all laboratory results from the first pass drilling campaign at its Binjour Project south of Gladstone and 170km southwest of Bundaberg, central Queensland. These results confirm the discovery of a concealed layer of good quality bauxite. A new Exploration Permit application has been made to secure the extensions of this deposit at Binjour.
BINJOUR EPM 18014
170km SW of Bundaberg QLD
During exploration, an area of several square kilometres was discovered on the Binjour plateau that has a good quality bauxite layer concealed beneath a soft, freedigging overburden layer.
Bauxite at Binjour is unexpectedly extensive over a wide and diverse area, thus warranting surface mapping and a drilling strategy to delineate thicker, shallow, good quality zones which may justify early development.
Results from the 18 holes which intersected this concealed bauxite are set out in detail in the Appendix at the end of this report.
BINJOUR EXTENSION: NEW EPM APPLICATION
Based on the discovery of the concealed bauxite deposit at Binjour in mid 2010, ABx conducted an exhaustive assessment of the surrounding areas where extensions of the bauxite may occur. As a result of encouraging surface samples of bauxite, geological observations and the application of remote sensing techniques, a new Exploration Permit application was designed to secure the extensions of the Binjour bauxite province.
Plans are now in preparation to recommence drilling on the Binjour plateau.
TARALGA EL 7269
40km N of Goulburn, southern NSW
Drilling in the district around Goulburn in southern NSW has been successful on the two Project Areas drilled to date, namely Taralga located 40km north of Goulburn and Windellama, 40km south of Goulburn Inverell.
A maiden resource of 5.4 million tonnes of bauxite at Taralga was announced on 16 September 2010 and since then, another 10 days of drilling has continued to encounter extensions to the resources and has discovered two new bauxite deposits. Laboratory results are awaited.
A Review of Environmental Factors has been submitted for consideration by the Mines Department to enable further resource definition drilling to be undertaken at Taralga. No major impediments have been identified.
TASMANIA - 7 Exploration Licences Granted.
Drilling commenced.
The company is also pleased to announce that 7 of the 8 tenements in Tasmania have recently been granted.
The drill crews and equipment have been shipped to Tasmania and drilling commenced on 14 October on grazing and cropping farmland around Campbell Town in the Tasmanian midlands. Bauxite is being encountered in the drillholes and in surface sampling. Laboratory results of the drillhole samples will take approximately 6 weeks.
For the complete Australian Bauxite Limited announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63970-ASX-ABZ-609708.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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