New Bauxite exploration found near Taralga NSW

Emerging bauxite exploration and development company, Australian Bauxite Limited (ASX:ABZ) has received laboratory results from its December 2011 drilling campaign at Taralga near Goulburn, southern NSW (see Figure 1 - refer to ABx announcement link at bottom of release). Results from hole TG626 at Mt Rae (see Figures 2 & 3 for locations) and several nearby holes confirmed the discovery of the company's thickest high-grade bauxite intersection - possibly one of the thickest bauxite intersections in Australia. Most Australian bauxite deposits are less than 4 metres thick and some are less than 2 metres thick whereas hole TG626 intersected 28 metres.

Australian Bauxite CEO Ian Levy said; "ABx and Marubeni Corporation (TSE:8002) are currently conducting a A$1.5 million pre feasibility study of the Goulburn Bauxite Project, and Taralga is one of the bauxite resource study areas that continues to surprise, especially around Mt Rae, west of Taralga."

The district's deposits contain thick zones of premium grade bauxite, with good potential for more discoveries. The recent discovery hole, TG626 remains open at depth and laterally.

All deposits are gibbsite-rich (trihydrate) bauxite with very low levels of reactive silica clays and free of boehmite (monohydrate). All horizons can produce Direct Shipping or "DSO" bauxite (see Definitions).