Australian Bauxite hits 28 metre intersection

THE DRILL SERGEANT: Bauxite exploration and development company, Australian Bauxite has received results from a drilling campaign carried out in December 2011 at Taralga near Goulburn in southern New South Wales.

 

Project location. Source: Company announcement

 

Australian Bauxite claims one hole undertaken at Mt Rae has combined with several nearby holes to confirm the discovery of the company’s thickest high-grade bauxite intersection, which it considers could possibly be one of the thickest bauxite intersections in Australia.

The hole which has sparked the company’s enthusiasm returned 28 metres of continuous high-grade bauxite intersected beneath one metre of clay.

The hole ended in high grade direct shipping bauxite – deposit is still open at depth.

The company compared these results to other Australian bauxite deposits, which it said were normally are less than four metres thick, with some less than two metres thick.

“Australian Bauxite and Marubeni Corporation are currently conducting a $1.5 million pre-feasibility study of the Goulburn bauxite project, and Taralga is one of the bauxite resource study areas that continues to surprise, especially around Mt Rae, west of Taralga,” Australian Bauxite chief executive officer Ian Levy said in the company’s announcement to the Australian Securities Exchange.

Australian Bauxite said the recent discovery hole remains open at depth and laterally adding that bauxite deposits located in the district contain thick zones of premium grade bauxite, with potential for more discoveries.

The company said it intends upgrading the resource estimate for Taralga before the end of the current pre-feasibility study, which is scheduled to conclude at the end of March.

Current bauxite resources at Taralga total 25 million tonnes.