THE BOURSE WHISPERER: Bauxite Resources has announced an initial resource for the Felicitas bauxite deposit, located in the Darling Range Western Australia.
The Felicitas resource is situated within the company’s Bauxite Alumina Joint Ventures (BAJV) joint venture with Yankuang Resources.
The new Resource stands at:
– 73.3 million tonnes at 39.2 per cent aluminium oxide (total), 30.3 per cent aluminium oxide (available), 1.9 per cent silicon dioxide (reactive).
The Felicitas Resource increases to the company’s total bauxite Resource base to:
– 124.5 million tonnes at 40.0 per cent aluminium oxide (total), 30.2 per cent aluminium oxide (available), 2.7 per cent silicon oxide (reactive).
Bauxite Resources tenement holding showing Felicitas Resource location. Source: Company announcement
Bauxite Resources said the new resource provides a 143 per cent increase to the total bauxite resources in which the company has an interest.
“The company considers that the new Felicitas resource advances the prospects of the BAJV achieving its stated aim of defining a minimum of 90 million tonnes of refinery grade bauxite to underpin the prospects of development of a long term alumina refinery for the joint venture,” Bauxite Resources said in its ASX announcement.
“Whilst considerable effort will still be required to achieve this objective the company is very pleased with the results achieved by the BAJV team thus far and notes that this resource has potential for increase with further exploration drilling.”