Australian Bauxite estimates of Binjour Project Reserves double to 37 million tonnes

Australian Bauxite Limited (ABx) advised the global market yesterday that the reserves at the Binjour Project site are now estimated to total 37 million metric tons, 51 percent above previous estimates for the project.

ABx says the results are gleaned from samples taken from over nine hundred drill holes across three quarters of the 44 km² Binjour Plateau. Per the tests, the site is covered by a layer of bauxite between 3 and 15 meters in thickness, with about 10.4 million metric tons suitable for bulk shipping and mining, while another 26.6 million metric tons are infused with bands of silica gel, requiring processing.

The firm says that scheduling and planning for the mine is currently underway, with the aim of finding the optimal amount of mining and processing required to bring the Binjour Plateau bauxite to market.

Declaring it to be a find of major significance, the Binjour Project is a series of tenements located 115 kms southwest of Bundaberg Port in Central Queensland’s Wide Bay Burnett Region. The Project is one of five in the area that cover reserves that may total up to 200 million metric tons of trihydrate gibbsite bauxite. The increase in estimated resources at the Project boosts ABx’s total resources to 137 million metric tons.

Based in Sydney, ABx conducts operations in Tasmania, Queensland, and New South Wales. The firm boasts combined JORC resources of 124 million metric tons in twenty-two tenements covering almost two thousand square kilometers in Eastern Australia. Its Binjour tenement in Queensland is considered by the company to be its flagship project.