Bauxite results come out and people scatter as if they were dusted with uranium...lol
Quite frankly, if you read the following Bauxite summary, the results are encouraging and the tonnage is yet to be proved using the beneficiation process. (ore is reduced to particles that can be separated into a mineral):
Bauxite Summary It is still early days for UKD at Grass Hill and Couchman Range. There are significant amounts of bauxite within the UKD project areas and a number of the holes do also show some depth of bauxitic material. Beneficiation would increase the potential tonnages of bauxite available and previous studies (not UKD) in the region have shown these types of bauxite ores do react well to a simple and inexpensive crushing, washing and screening procedure. Further assay work (XRF) is currently underway on selected samples to assess the amount of Total Chemical Alumina (TCA) present, this will assist in judging the potential upside of beneficiation. Furthermore, the Mitchell Plateau South Project was not able to be accessed this year and is yet to be drilled. The bulk of the prospective area is on a granted tenement. UKD’s original remote sensing study of Mitchell Plateau South showed an area of 18.5 km2 of prospective duricrust plateau as a potential drilling target area. This is a large target area and it lies directly to the south of the extensive Mitchell Plateau bauxite deposit.
UKD acquired three iron ore leases in the first week of October and it must be stressed that the potential of these leases is enormous for a junior. They fall in the heart of the Pilbara and little wonder why the likes of FMG and CAZ made attempts to secure the leases.
The directors are wasting no time and as documented in the "Projects Update":
On the Company’s Pilbara Iron Ore tenement package, a technical review of available data has already commenced. A field crew including an experienced structural geologist will mobilise in November to begin mapping and sampling programs.
It will all come together very soon.....imo
UKD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
