- Lindian Resources (LIN) shares have jumped more than 30 per cent this morning after receiving stunning alumina grades from the Gaoual Bauxite Project in Guinea
- The results from the tested Bouba North and South extensions confirmed the high-grade nature of the Bouba Conglomerate Bauxite Plateau
- The alumina grade from Bouba North reached an average high of 54.4 per cent aluminium oxide, while results from Bouba South peaked at an average high of 58.5 per cent
- Testing will now be undertaken on selected samples to determine their silica classification
- Once this is finished, JORC compliant resource modelling can also be completed
- Lindian is still up a steady 31.8 per cent and shares are trading for 1.5 cents each
Lindian Resources (LIN) shares have jumped more than 30 per cent this morning after receiving stunning alumina grades from the Gaoual Bauxite Project in Guinea.
The results from the tested Bouba North and South extensions confirmed the high-grade nature of the Bouba Conglomerate Bauxite Plateau.
Even though the resource has grown, Lindian believes it hasn’t changed grade or quality.
The alumina grade from Bouba North ranged between an average of 50 per cent and 54.4 per cent aluminium oxide, while results from Bouba South ranged between an average of 54.9 per cent and 58.5 per cent aluminium oxide.
These extensions will add significant scale to the high-grade conglomerate bauxite, further strengthening the significance of the project.
“Laboratory confirmation that these two new areas are verified to be very high-grade conglomerate bauxite is a brilliant outcome as this continues to build scale for this amazing project,” Managing Director Shannon Green said.
“Confirmation from the IndependentGeological Expert that we are on track to deliver our inaugural JORC compliant resource statement before mid-year is a significant step towards the development of this incredible project,” he added.
Testing will now be undertaken on selected samples to determine their silica classification, as well as their recovery performance at high and low temperatures.
Once this is finished, JORC compliant resource modelling can also be completed.
Lindian is still up a steady 31.8 per cent and shares are trading for 1.5 cents each at 11:34 am AEST.