IronRidge says new bauxite resource has big potential

IronRidge Resources has unveiled an initial 4.9 million tonne (MT) resource of bauxite at its Monogorilby project in Queensland, Australia.

Bauxite is processed to produce aluminium and this maiden resource comes a time when major miners are approving significant long-term project expansions to meet growing demand, the group said.

Early test work has shown that good to premium quality DSO (direct shipping ore and the most desirable iron product) could be processed through simple crushing and screening.

Meanwhile, a fair quality DSO  at 38 per cent mass recovery could also be beneficiated by simple crushing and screening, the mining firm said. The mineralisation is on slopes and atop hills meaning low stripping ratios.

Chief executive Vincent Mascolo said: "We are very pleased to report the maiden bauxite resource; not only does it confirm a newly identified bauxite province with significant scale potential, but it is also located less than 55km from a dormant rail system connected to the operational port of Bundaberg.

"Surface mineralisation beneficiates through simple crushing and screening up to a premium 52% alumina DSO, with desirable gibbsite mineralogy.

"Resource scale potential, proximity to infrastructure and a premium DSO product, all point to an exciting, potential low capital intensity project with potential low stripping ratios and operating costs."

Notably the project could be further enhanced by mining for titanium as high-grade results averaging 3.8 per cent to 5 per cent TiO2 consistently occur above and below the bauxite horizon, he added.

Bauxite prices are buoyant at  around US$$49.5 per tonne.