Bauxite Resources publishes Quarterly Activities Report
Currently the Company and its joint Venture Partners hold ~14,266km2 (7,831km2 granted). Through a process of low cost resource targeting activities the Company is actively exploring its substantial tenement holdings and rationalising these tenements to maintain the most prospective areas for bauxite mineralisation.
Highlights:
- Bauxite resources held by Bauxite Resources Limited ("BRL") and its joint ventures partner's totals 338Mt - Resources are near surface, situated close to existing road and rail and port infrastructure.
- Felicitas bauxite deposit upgrade to 218.7Mt @ 39.1% Total Al2O3 (30.1 % available @ 148°C), 8.9% SiO2 (1.9% reactive @148°C) (all grades are unbeneficiated).
- Commenced environmental study on BRL's 100% Fortuna Deposit and undertaken conceptual mine planning activities as part of the Company's strategy of targeting export DSO shipments out of the Fortuna deposit.
- Discovered significant new mineralisation in both the north and east Darling Range, displaying high available alumina grade and low reactive silica. Significant intersections include;
-- 9m @ 32.2% avail Al2O3 (43.0% total), 2.1% SiO2 (reactive) from 2.5m
-- 7m @ 38.3% avail Al2O3 (49.1% total), 2.3% SiO2 (reactive) from 1m
-- 7m @ 38.1% avail Al2O3 (43.6% total), 2.9% SiO2 (reactive) from 0.5m
-- 13.5m @ 33.3% avail Al2O3 (46.6% total), 1.8% SiO2 (reactive) from 1m
- Indonesian bauxite export bans imposed effective 12 January 2014 means Darling Range bauxite is now further sought after by Chinese refineries as a long term alternative supply source.
- Successful hand-back of rehabilitated bauxite trial mining area as farmland to private owner.
- Cash at bank A$42.7 million and no debt.
Ma'aden signs a financing deal with SIDF
Next articleFirst Bauxite files annual financial statements
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