Australian Bauxite Limited (ASX:ABZ) 2011 Bauxite Drilling Program Underway Full Steam Ahead
Sydney, Jan 18, 2011 AEST (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited (
ASX:ABZ) (ABx) has commenced an aggressive 2011 drilling campaign on schedule today in good weather at its fast developing bauxite project at Taralga, near Goulburn, southern NSW. The 2010 drilling campaign ended in Queensland and Tasmania in mid December 2010 and all drilling rigs were sent to Adelaide for full servicing in readiness for the start of the 2011 drilling program. All rigs are operational.
There has been no disruption to ALS Laboratories which analyses the company's bauxite results and results continue to be produced in a timely manner. Results are pending from the drilling done at Binjour and Tasmania in the days before drilling ceased in mid December 2010. These will be reported as available.
Managing director and CEO, Ian Levy said: "Company staff have monitored the impacts of flooding in Queensland, northern NSW and Tasmania by remote sensing techniques, a few safe site inspections and by landholder communications. The bauxite deposits have remained dry but access in Queensland and Tasmania was temporarily restricted by highway closures due to flooding in low lying areas. The exploration team's decision, based on experience, to close-down the two rigs at Binjour in QLD and Tasmania in mid December and recommence drilling at Taralga in southern NSW in mid January has been vindicated. We don't want either rig delayed during our massive 2011 drilling campaign."
TARALGA EL 7269
40km N of Goulburn, southern NSW
The bauxite resources at Taralga doubled to 12 million tonnes following first-pass drilling as announced on 6 December 2010. More than half of the resources are easily mined Direct Shipping Ore (DSO) grade bauxite suitable for direct shipping to customers that require gibbsite-rich bauxite, which is the premium quality bauxite that is in highest demand globally.
A new style of gibbsite-rich bauxite has been discovered in the Southeast of the tenement and this will be further explored as a matter of priority.Drilling will be undertaken in accordance with a Review of Environmental Factors approved by the NSW Department of Industry and Investment. This approval enables resource definition drilling to be undertaken at Taralga without delay in 2011. Landholder relations are good and approvals to drill on schedule have been obtained.
For the complete Australian Bauxite Limited announcement including tables and figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/65022-ASX-ABZ-620989.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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