Ord Resources and China Nonferrous Metal Industry update on Laos Bauxite Project
Ord River Resources (ASX: ORD), a minerals exploration and development company, has updated progress on its feasibility study for the Laos Project in the Bolaven Plateau, Southern Laos, which is potentially one of the world's largest undeveloped bauxite resources.
ORD holds a 49% interest in Sino Australian Resources (Laos) Co., Ltd (SARCO), a joint venture company between ORD and China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd (NFC).
In a statement the company said the feasibility study commenced on 1 March 2010 and is being carried out by Sinomines Explorations Co Limited (Sinomines). SARCO which has a representative office in Laos is working on the ground closely with Sinomines. ORD is providing assistance to both SARCO and Sinomines.
ORD managing director Peter Shou said, "Sinomines is working very hard to achieve the objectives set for this study. The large team of experts is doing a good job. We believe a lot of progress will be made before the rain season arrives."
Recently NFC Senior Vice President and Chairman of SARCO Qin Junman visited Australia and held several meetings with ORD Managing Director Peter Shou and other ORD executives in Sydney.
In the meetings both NFC and ORD continued to express commitment to developing the Laos Bauxite Project further.
Ord said since 1 March 2010 Sinomines established Laos Southern Bauxite Exploration Project Department in Laos and so far 41 people have arrived at Laos from Sinomines' team in China with proper visas and passports in place.
Most of the 41 professionals are technicians including a large team of geologists with drilling expertise. There are also a large team of local staff assisting Sinomines team.
Among the equipment and materials on site there are 10 drilling rigs. The rigs can drill down to more than 30 meters. This is adequate as the bauxite resource is close to the surface in Laos.
The camp site has now been established and is running smoothly. Sinomines completed the collection and review of geological data from the tenements and improvements have been made to the data and analysis via experts' review.
Sinomines has been working closely with an UXC company from New Zealand regarding unexploded mines in the area. Weekly working plans are issued to ensure safety. The company completed 6 hole design and work plans with a sample study.
The company said targets for Late May to June include completing the drilling of 3,500m in the LSI tenement and corresponding geological and ground work. Also there are plans to complete drilling of 1,000m in the Yuqida tenement and corresponding geological and ground work.
Ord River said prior to the commencement of the rainy season in Laos "Sinomines will work hard to complete as much work as possible. If weather permits, Sinomines plans to finish all drilling and corresponding physical geological and ground work for the LSI tenement by end of July."
The main work load in Yuqida will commence in June with a view to increase the resource estimate.
