IronRidge says new bauxite resource has big potential

<p>IronRidge Resources has unveiled an initial 4.9 million tonne (MT) resource of bauxite at its Monogorilby project in Queensland, Australia.<br /><br />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.<br /><br />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.<br /><br />Meanwhile, a fair quality DSO&nbsp; 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.<br /><br />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.<br /><br />"Surface mineralisation beneficiates through simple crushing and screening up to a premium 52% alumina DSO, with desirable gibbsite mineralogy.<br /><br />"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."<br /><br />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.<br /><br />Bauxite prices are buoyant at&nbsp; around US$$49.5 per tonne.</p>