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Bauxite Resources Ltd.
Summary
| Project: | Ceres | |
|---|---|---|
| Deposit: | Ceres | |
| Location: | Australia | |
| Commodities: | Aluminium-Silica | |
| Date: | 4/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 23-4-2018: Bauxite Resources Ltd. announces a Resource Estimation report for its Ceres deposit at the Ceres project. Updated mineral resource estimate at Ceres. Bauxite Resources Limited (ASX:BAU) (“BRL” or the “Company”) is pleased to announce a resource | |
| Resources: | (Resource, Inf.): 21.9Mt @ 31.4% Al2O3, 20.4% SiO2 | |
| CP/QP: | [Resources]: Shaun Searle (Ashmore Advisory Pty Ltd.) | |
| ABSTRACT: | Bauxite Resources Limited (ASX:BAU) (“BRL” or the “Company”) is pleased to announce a resource update for the BRL/HD Mining joint venture Ceres bauxite deposit in the Darling Range, Western Australia. The exploration project areas are contained within the Company’s joint venture agreement with HD Mining & Investments Pty Ltd, (“HDM”) the wholly owned subsidiary of Shandong Bureau No.1 Institute for Prospecting of Geology & Minerals (“Shandong”). Under the BRL/HDM joint venture arrangements, HDM will earn a 40% participating interest in a specific resource after making a binding commitment to undertake a feasibility study on that resource. In addition, HDM will earn another 20% participatory interest in that resource after completion of a feasibility study and a decision to mine. Up until decision to mine, HDM are fully funding exploration activities. BRL retains 100% interest in other minerals for these exploration licences. Ceres is located on a number of private land holdings on exploration licence E70/3179 north of the township of Williams, approximately 135km southeast of Perth. The Company currently has exploration access agreements in place. Mining access agreements and the grant of a mining lease will be required for mining to occur. | |
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