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- Lindian Resources (LIN) has confirmed significant extensions to its high-grade conglomerate bauxite resource at the Gaoual Bauxite Project in Guinea
- Earlier in the month, the company found two new bauxite areas at Gaoual after geological work was carried out at the project
- These zones included a one-kilometre extension to the Bouba Plateau and the new Bouba South area
- Conglomerate bauxite is a more superior form of bauxite, which is the main source ore for aluminium
- Lindian has confirmed that these areas are indeed conglomerate bauxite and are very high-grade
- Company shares have dropped 13.3 per cent and are currently trading for 1.3 cents each
Lindian Resources (LIN) has confirmed significant extensions to its high-grade conglomerate bauxite resource at the Gaoual Bauxite Project in Guinea.
Earlier in the month, the company found two new areas of conglomerate bauxite at Gaoual after new geological work was carried out.
These included a one-kilometre northern extension to the Bouba Plateau at Gaoual and a new area to the south of the plateau called Bouba South.
Lindian has now finished its drilling program on these areas and has confirmed that the areas are conglomerate bauxite and are very high-grade.
Bauxite is a sedimentary rock with a high aluminium content and is the main source ore for aluminium.
According to the company, conglomerate bauxite is considered a more superior type of rock and has a higher grade of contained aluminium which makes it more efficient to mine.
These two new areas are set in a lower elevation than that seen at the Bouba Plateau and are made up of long pebbles and spheres.
The geology of the northern extension of the Bouba Plateau is made up of bauxite mineralisation, averaging a thickness of four metres and depths of seven metres.
Drilling in these areas has confirmed that the conglomerate bauxite is surrounded by either iron-rich soil and rocks or sandstone.
“Drilling confirmation that these two areas are as we believed to be conglomerate bauxite is another fantastic outcome for the project as we continue to build scale,” Managing Director Shannon Green said.
“The potential for Bouba south to be even higher grade the Bouba is extremely exciting for us and with our geologists continuing to undertake high-quality field works the potential for further conglomerate bauxite discoveries is high,” he added.
Lindian’s share price has dropped 13.3 per cent and shares are trading for 1.3 cents each at 12:52 pm AEDT.
