Binjour Bauxite Project Update
Sydney, June 13, 2012 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) has received laboratory and exploration results from drilling and surface exploration at its Binjour Bauxite Project in central QLD (see Figure 1).
133 holes drilled in 2012 have intersected a thick layer of bauxite located beneath a surface clay horizon, including some exceptionally high grade, thick gibbsite bauxite, ideal as a "sweetener" to any bauxite refinery. Complete results are listed in the Appendix and averaged in Table 1 as follows:
Australian Bauxite CEO Ian Levy said; "Binjour hosts a fine bauxite deposit, containing premium grade bauxite. It is very exciting to discover the southern half of the large Binjour plateau with bauxite lying right at surface.
"The Binjour Bauxite Project is destined to sell large tonnages of bauxite to alumina refineries needing "sweetener" bauxite that processes at low temperature and with low reactive silica contents.
"We call this "Brown Sugar" bauxite - sweet and greatly sort after. It will become a brand name."
South Binjour Bauxite Plateau Discovered
The South Binjour Bauxite Plateau has been secured by exploration permit application EPMA 19742 as shown in Figure 2 below. This prospect lies immediately south of the Binjour Bauxite Plateau across the Burnett River and contains bauxite at surface.
Bauxite at Surface on South Binjour Plateau
ABx has developed non-invasive sampling methods using a hand held XRF device, based on proprietary protocols developed by ABx. The following results come from analyses based on this method, which correlates laboratory obtained bauxite assays with the XRF field results. (Sample locations are shown on Figure 2).
Logistical Setting
In addition to the sealed Burnett Highway, a disused rail line sits at the southern end of the Binjour lease which requires significant upgrading. Engineering studies and government discussions have been underway for several months to find a cost-effective solution. The Binjour Bauxite Project is near regional cities, power, water and a pro-development workforce.
Resource Estimation Underway
Good continuity of bauxite qualities and thickness on Swains Plateau led to a maiden resource estimation of 16.8 million tonnes in October 20114. The extent of bauxite has been extended by drilling during 2012 and, subject to further laboratory results, a resource upgrade has commenced.
To view the complete Australian Bauxite announcement including Tables, Figures and Appendix: Bauxite Intercepts at Binjour, please click the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-682095.pdf
About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) is a uniquely positioned Australian company delivering materials for a cleaner future.
The three priority projects are:
- Heavy rare earths: Supplying light and heavy rare earths from Tasmania into Western supply chains
o Processing Options Analysis conducted in partnership with external experts
- Clean fluorine chemical production: Producing industrial chemicals from aluminium smelter by-product (ALCORE)
o Continuous pilot plant under construction in Bell Bay, Tasmania
- Near-term bauxite production: Mining bauxite resources for the aluminium, cement and fertiliser industries
o Agreements executed with Good Importing International for bauxite projects in Queensland and New South Wales, and $2.7 million initial payment has been received
o Approvals well advanced for DL130 bauxite project in northern Tasmania
ABx endorses best practices on agricultural land and strives to leave land and environment better than we find it. We only operate where welcomed.
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