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
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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