Australian Bauxite Limited (ASX:ABZ) Goulburn-Taralga Bauxite Resource up by 50% - 38 Million Ton
Emerging bauxite exploration and development company, Australian Bauxite Limited (ASX:ABZ) has 40 bauxite tenements totalling more than 8,700 km2 covering the core of the Eastern Australian Bauxite Province. As announced on 30 May 2012, a discovery of extraordinarily thick bauxite at Mt Rae near Taralga, 40km north of Goulburn southern NSW in February-March 2012 has led to an expansion of the Pre Feasibility Study (PFS) for the Goulburn Bauxite Project and a resource upgrade has now also been undertaken as part of that expanded PFS.
ABx and Marubeni Corporation are conducting a AU$1.5 million pre feasibility study of the Goulburn Bauxite Project. This zone of thick bauxite increases the resource potential of the Taralga bauxite areas, near Goulburn NSW.
The district's deposits contain thick zones of premium grade bauxite, with good potential for more discoveries. All deposits are gibbsite-rich (trihydrate) bauxite, low in reactive silica and free of refractory mineral boehmite (monohydrate).
All horizons produce Direct Shipping or "DSO" bauxite.
Resource Estimation and Deposit Geometry
Areas of thick, good quality bauxite continue to be discovered across the Taralga - Mt Rae Areas and new bauxite target areas have been identified in new tenements that have been recently granted. Over the last 12 months, bauxite resources at Taralga have increased by 50% from 25 million tonnes to the current estimate of 37.9 million tonnes.
Metallurgical Results Encouraging: Main Production is DSO Bauxite Metallurgical tests on large samples have been conducted as part of the Pre Feasibility Study, with METS Engineers of Perth coordinating and summarising the testwork.
The Goulburn Bauxite Project deposits typically have an upper half that contains nodules or "pisoliths" of a black, glassy material which is an emery, comprising mainly fused alumina and trace iron oxides. Well-known bauxite mineralogist, Professor Eggleton of the Australian National University coined the term "PDM" for these black pisoliths which he found in bauxites from Weipa, Northern QLD. PDM stands for "poorly diffracting material" when subjected to X-ray diffraction.
Metallurgical tests on the PDM-bearing bauxite ("PDM-DSO Bx") from the Taralga area have been able to recover the PDM by gravity methods and the remaining bauxite is good-quality DSO bauxite, similar to the DSO bauxite that typically occurs in the lower half of the deposits. This means that overall, DSO Bauxite will represent approximately 80% to 85% of total tonnes produced from the Goulburn Bauxite Project. The recovered PDM emery material can be sold at good prices for industrial uses.
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About Australian Bauxite Limited:
Australian Bauxite Limited (ABx) (ASX:ABZ) holds the core of the newly discovered Eastern Australian Bauxite Province. Its 37 bauxite tenements in Queensland, NSW and Tasmania covering 8,500 km2 were rigorously selected on 3 principles: 1. good quality bauxite; 2. proximity to infrastructure connected to export ports; and, 3. free of socio-environmental or native title land constraints.
All tenements are 100% owned and free of obligations for processing and third-party royalties. ABx has already discovered many bauxite deposits and new discoveries are still being made as knowledge and expertise grows.
The company's bauxite is high quality and can be processed into alumina at low temperature – the type that is in short-supply globally. Global resources declared to date are 68 million tonnes. At the company's first drilling prospect in Inverell, northern NSW, an interim resource of 35 million tonnes has been reported from drilling 15% to 20% of the area prospective for bauxite and a resource of 25 million tonnes of bauxite has been reported at the Taralga project in southern NSW. 6 million tonnes maiden resource was declared at Guyra. Results from the Binjour Plateau in central QLD confirm that ABx has discovered a significant bauxite deposit including some bauxite of outstandingly high quality. Australian Bauxite Limited aspires to identify large bauxite resources in the Eastern Australian Bauxite Province which is emerging as one of the world's best bauxite provinces.
ABx has the potential to create significant bauxite developments in three states - Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
Australian Bauxite Limited T: +61-2-9251-7177 F: +61-2-9251-7500 WWW: www.australianbauxite.com.au
Australian Bauxite Limited
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