Australian Bauxite (ASX: ABZ) has established an initial 16.8 million tonnes JORC Resource at its Binjour project in central Queensland, growing the company resources to 84 million tonnes.
The gibbsite-rich resource is based on 88 infill exploration holes that intersected a thick bauxite layer that is largely concealed beneath a surface clay horizon.
Significantly, most of the bauxite resources identified in this estimation are a superior quality bauxite suitable for sweetening circuits in refineries known as “Brown Sugar” bauxite.
The high grade core totalling 9 million tonnes of extremely high grade bauxite commands a large price premium.
Recently identified new bauxite areas at Binjour are currently being drill tested to expand resource extent.
High grade bauxite results from a further 13 holes were received after the resource estimation process and will be included in the next Binjour resource update.
The Binjour bauxite project is located approximately 160 kilometres inland from Bundaberg port.
A new exploration permit application has been made to secure the extension areas for the company. Once approved, exploration will accelerate in the Binjour district.
Resource growth has already exceeded the company’s target for calendar 2011 and has potential to continue across the 37 tenements in Queensland, NSW and Tasmania.
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