Perth based bauxite explorer and developer, Bauxite Resources Limited announced a maiden bauxite resource at its Cardea 3 deposit within its northern Darling Range tenement area approximately 20 kilometers North West of Toodyay WA.
This maiden resource is contained within both the Bauxite Alumina JV area with Yankuang Resources Limited where the Company holds a 30% beneficial interest in bauxite rights and the Shandong JV area with Shandong 1 Bureau of Geology & Minerals Exploration where Shandong can earn up to 60% of bauxite rights upon completion of certain milestones.
BRL currently holds an interest in indicated and inferred bauxite resources of over 51 million tonnes in its northern Darling Range tenements with substantial drilling results yet to be modelled.
Importantly, the new Cardea 3 deposit shows the same characteristics as all of the Darling Range resources. It is a shallow deposit with the dominant mineral being gibbsite. This means that if mined, mining costs would be relatively low and the bauxite produced would require a low temperature and relatively low cost refining process.
The Company has now defined a robust JORC compliant geological resource within its Northern Darling Range tenements and intends to continue to build upon this base. It is anticipated that further resource updates will be announced over the next 3 to 4 months as the Company continues to model the results of completed drilling programs as assay results become available.
豫公网安备41010502003434号