Lindian Resources reveals Mineral Resource Estimate of its newly-bought Lelouma Bauxite Project in Guinea

Mining stock Lindian Resources (LIN) has announced an update about its recently bought Lelouma Bauxite Project in Guinea. In late September, Lindian acquired a controlling stake in the bauxite project by signing an agreement to buy 75 per cent of its owner Sarmin Bauxite. The deal is, however, still awaited for regulatory approval.

Lindian Resources has now revealed that the project’s Mineral Resource Estimate (MRE) totals 900 million tonnes at 45 per cent aluminium oxide (Al2O3) and 2.1 per cent silicon dioxide (SiO2). It also includes an upgraded high-grade portion of 398 million tonnes at 48.1 per cent aluminium oxide, and 155 million tonnes measured mineral resources at 47.9 per cent aluminium oxide and 1.8 per cent silicon dioxide - including 115 million tonnes at 49.6 per cent aluminium oxide and 1.8 per cent silicon dioxide.

The upgrade comes after an extensive drilling campaign carried out at the site by its previous owner. By now, about US$ 10 million has been spent on the project.

Lindian Resources thinks the presence of low silica and absence of contaminants makes Lelouma Bauxite Project’s ore a high-value product. It expects the resource to produce Direct Shipping Ore without the requirement for processing or beneficiation, and ready for sale in the Atlantic and Pacific markets.

Lindian Resources CEO Danny Keating said, "The Measured Mineral Resource gives confidence to the mine planning process, as well as for our work with alumina refineries who are seeking long term supply of high quality bauxite."

"Having defined the high confidence Measured Mineral Resources at the project, the management team will now focus on the joint road & rail infrastructure options for the combined development of the Gaoual and the Lelouma Projects," he added.