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Bauxite Resources Ltd.
Summary
| Project: | Maralla Road | |
|---|---|---|
| Deposit: | Maralla Road | |
| Location: | Australia | |
| Commodities: | Silica-Aluminium-Iron | |
| Date: | 5/7/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-5-2019: Bauxite Resources Ltd. announces a Resource Estimation report for its Maralla Road deposit at the Maralla Road project. Amended previous resource estimate to remove non JORC compliant statement. Bauxite Resources Limited (“BRL” or the “Company”) | |
| Resources: | (Resource, Inf.): 10.7Mt @ 99.8% SiO2, 0.02% Fe2O3, 0.01% Al2O3 | |
| CP/QP: | [Resources]: Shaun Searle (Ashmore Advisory Pty Ltd.) | |
| ABSTRACT: | Bauxite Resources Limited (“BRL” or the “Company”) advises that it has an Update to the previously announced “Urban’s Maralla Road Silica Maiden Resource1 ” that was lodged with ASX on 23 April 2019 which is attached to this Announcement. At the request of ASX, the Company retracts the following comments that were made in the 23 April 2019 Announcement: “Defined Resource deposit is able to be mined at an initial rate of 150,000 tonnes per annum” and “The company plans on commencing silica sand export sales at a rate of 50-150 Ktpa” – these comments have been deleted from the Updated Announcement attached. The reasons for these retractions are that the Company has only defined a JORC inferred resource, and under the ASX listing rules a measured or indicated resource or a reserve would be required to support these comments. As a consequence the Company and shareholders are advised that they should not rely on them. As Urban Resources Pty Ltd (“Urban”) is a private company, it has never had a requirement to complete a JORC resource. Urban has been operating the mine for the last 5 years. | |
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