Development of a strategic plan to expand exploration activities to include bauxite. The plan embraces the identification of a commercially viable bauxite mineralisation,development of a mining operation and potentially upstream production facilities.
Encouraging results were reported by Tiaro Coal Limited (TCM) from a seismic geophysical survey completed in the previous quarter (the Company holds a strategic investment of 30 million ordinary shares (60.44%) and 20 million options in TCM). TCM commenced a 2,750 metre drilling programme to confirm the stratigraphy and to test directly for the presence of coal seams, working sections and coal quality and is based on the interpreted results of the recently completed high quality airborne geophysical and seismic surveys. 1,950 metres have been completed at the date of this report.
Gross revenues from the sale of attapulgite ore to Hudson Marketing Pty Limited was $161,866 (June quarter: $307,683) for the quarter.
Rental income from the Company’s industrial properties at Geraldton Western Australia was $47,025 (ex GST) for the quarter. -----------------------------------------------------------------------------
Weipa bauxite plans have been dropped - but Inverell is a goer....
Project Inverell
During the quarter the company commenced extensive ground exploration to determine the nature, extent and quality of bauxite deposits on the company’s exploration licence.
EL 6997 is located approximately 20 km north-west of Inverell, in north eastern New South Wales.
The licence covers an area of approximately 297 sq km. Extensive and almost continuous outcrops of bauxitic laterite were observed during field studies.
Typical outcrops of bauxite are in layers of between 3 and 12m thick and extend in a semicontinuous manner for between 0.25 and 1 km in length.
Additional ground has been applied for adjacent to EL 6997 (ELA 3579) over ground with a similar geological setting.
Did some research into potential of Project Inverell and suggest you look at the following, has some good data .......
