Queensland Bauxite discovers bauxite field at South Johnstone, Queensland
Queensland Bauxite (ASX:QBL)
looks set to trade higher after a further study of South Johnstone in
Queensland indicates a bauxite field outside areas with known
environmental issues.
Extensive drilling and XRF testing has
shown half of the 61 shallow holes to be relatively enriched in alumina
and depleted in silica, pointing to a bauxitisation event.
Samples
with over 25% alumina and under 20% silica are to be alkali leach
tested, with results presented as they become available.
The
South Johnstone permit covers 400 square kilometres, 16 kilometres west
of Mourilyan deep water port in North Queensland, capable of berthing 40
kilotonne vessels.
A railway runs directly through the tenement
to the port, as does a network of roads, giving rise to potential low
cost bauxite operations.
Queensland Bauxite is currently capitalised at around $2 million, with ample funds to advance exploration.
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