QBL progresses towards Mineral Development Licence and Mine Plan at South Johnstone DSO Bauxite Project
Queensland Bauxite Limited (ASX: QBL, or the “Company”) is pleased to provide an update on project development and corporate activities at its flagship South Johnstone DSO Bauxite Project in northern Queensland.
A primary objective of the recently completed drilling program is to upgrade a portion of the current Indicated Mineral Resource under the 2012 JORC Code, to a Measured Resource, in order to finalise the initial mine plan for the Mineral Development Licence Application (MDLA). Within that specific area of the Indicated Resource, infill drilling to 50-metre spacing has been conducted to enable an upgrading of that area to a Measured Resource category.
Granting of the MDLA will facilitate immediate commencement of the first shipments of bauxite, and enable the Company to prove the long-term economic and operational feasibility of the entire project. The initial shipments are scheduled to commence in the fourth quarter of this year. Read more.
South Johnstone Bauxite Project Progressing with two drilling programs underway
Queensland Bauxite Limited (ASX:QBL, or the “Company”) is pleased to provide an update on drilling and corporate activities at its flagship South Johnstone Bauxite Project in northern Queensland.
Drilling continues apace as two drilling teams are now on site to expand the development of the project. Results from new drill holes are progressively being sent to ALS Laboratories for assaying.
Drilling Programme Update
In response to numerous shareholder inquiries, the Company wishes to give an interim update on the current status of the ongoing drilling programmes.
The recent regional drilling programme at the South Johnstone Bauxite Project in northern Queensland has concluded and has now identified 19 additional regional areas of bauxite mineralisation throughout the approximately 400 square kilometre Project area. Read more.
Quarter activities – March 2015
MARCH 2015 QUARTERLY REPORT
Heads of Agreement signed with Ports North for Mourilyan Port
Environmental consultants progressing approvals
Investment by China Bauxite Trading & Investments Company
Queensland Bauxite Rights Issue fully subscribed
Optimising throughput of bauxite from Mine-to-Port
Continuing discussions and negotiations with potential off takers
Sea Transport Commodities Pty Ltd
Well funded to continue development and drilling: $6.503M cash
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