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Queensland Bauxite drilling to expand Indicated Resource base

Queensland Bauxite drilling to expand Indicated Resource base
Bauxitic soil at South Johnstone Project in North Queensland

Queensland Bauxite (ASX:QBL) has committing to a significant drilling program at its flagship South Johnstone project near Innisfail in Queensland and has encountered new bauxite in areas not explored before.

The project has an overall massive exploration target area of between 193 million tonnes and 405 million tonnes. Current drilling to date is still only a small sub-set of that area.

The exploration target is being confirmed by targeted regional drilling confirming the extensive bauxite throughout the region within the 250 sq. km Atherton Basalt that covers the majority of the South Johnstone tenement area.

This drilling is looking to give a big bump to the current JORC Indicated Resource which would underpin a straightforward DSO mining and export operation development from the project.

Notable for its proximity to the Port of Mourilyan just 15-25 kilometres away, there is current available capacity at the Port to support a 800,000 to 1,200,000 tonne export project for QBL.

Significantly, a total of 140 samples of bauxite have been submitted to the laboratory for further testing from the regional drilling program to date.

First results from this initial batch are expected to be received before the end of this month.

QBL has set 2015 as a timetable to commence mining at the project.

The independent scoping study as previously announced on the project shows a potential for a highly profitable and lucrative mining operation.

The environmental and mining approvals are currently progressing to plan.

 

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Queensland Bauxite Ltd Timeline

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