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Australian Bauxite defines second Tasmania bauxite mining lease

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Australian Bauxite (ASX: ABZ) has defined a Mining Lease boundary for the Fingal Rail Bauxite Project area in Tasmania.

The application covers the core area of the project’s deposits and leaves the extension areas for subsequent evaluation.

Fingal Rail is intended to be the company’s second mining lease and is located west of Conara, some 11 kilometres north of Campbell Town where the first mining lease at the Bald Hill Bauxite Project is located in the northern midlands of Tasmania, 90 kilometres from Bell Bay Bulk Export Port.

The proposed mine is considered to be a simple quarrying and rehabilitation project, feeding bauxite into a stockpile at Bell Bay Port which will combine bauxite from several quarries for export.

It is ideally located to be transported either by existing highways or rail that run through the proposed lease area.

The company is also evaluating recent discoveries of high grade bauxite and very thick bauxite at the DL-130 project area as a possible third mine lease application.

 

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ASX:ABX
Market: ASX
Market Cap: $13.72 m
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