logo-loader
viewBauxite Resources

Bauxite Resources defines maiden resource for Fortuna in Western Australia

au_australiaorange350_518b42fec7ca0.jpg

Bauxite Resources (ASX: BAU) has defined an initial bauxite resource of 26.8 million tonnes for its Fortuna Project in the Darling Range of Western Australia, increasing its global bauxite Resource by 14% to 223.3 million tonnes.

The resource is less than 15 kilometres from existing rail infrastructure providing a direct link to Fremantle/Kwinana Port around 120 kilometres away.

It also adjoins the Bauxite Alumina Joint Venture’s (30% Bauxite Resources, 70% Yankuang Group) Felicitas deposit which was recently upgraded to 127 million tonnes, including 33 million tonnes in the high confidence Measured category.

Combined resources of the two deposits are now in excess of 150 million tonnes, confirming the northern Darling Range as a significant bauxite province.

The Fortuna Resource stands at 26.8 million tonnes at 37.8% Al2O3 (total unbeneficiated), 29.2% Al2O3 (available) and 1.4% SiO2 (reactive).

This has increased the total resource for Bauxite Resources to 223.3 million tonnes at 39.8% Al2O3 (total unbeneficiated), 30.1% Al2O3 (available) and 2.5% SiO2 (reactive).

The bauxite within the Fortuna Resource is up to 13 metres in thickness and the high available alumina to reactive silica ratio is considered desirable for alumina refining.

Another drilling campaign to test for additional resources at Fortuna is scheduled to begin in late May.

Bauxite Resources is more than adequately funded to continue growing its bauxite resource base.

The company is trading well below cash backing with A$45 million, or $0.19 per share, in cash at the end of March 2013 and no debt compared to its market cap. of $27.1 million and share price of $0.115.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Bauxite Resources

Price: - -

ASX:BAU
Market: ASX
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Southern Gold active on the ground in South Korea with multiple rigs and...

Southern Gold Limited's (ASX:SAU) managing director Simon Mitchell tells Proactive London's Andrew Scott they're looking to become recognised as the go-to name for exploration in South Korea.  ''We're now 100% focused on South Korea and I think that's been well received by the market to...

6 hours, 51 minutes ago

2 min read