🕐22.06.10 - 08:55 Uhr

Hillgrove Resources [ASX: HGO] - Hillgrove acquires options on Indonesian bauxite projects



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Hillgrove Resources [ASX: HGO] - Hillgrove acquires options on Indonesian bauxite projects

Hillgrove Resources Limited (ASX: HGO) advises that it has secured options to acquire a 70% shareholding in five companies that own nine exploration licenses (IUPs) over the Landak and Tayan South Bauxite Projects, covering 1,400km� in West Kalimantan, Indonesia.

Key points:

� Options secured over 70% of companies controlling 1,400km� of granted bauxite exploration licenses in West Kalimantan in Indonesia.
� Licences adjacent to large, established bauxite resources and active bauxite mining operations.
� Bauxite occurrences confirmed over widespread areas within the licences, with values in augur drilling to 55% Al2O3.
� Bauxite confirmed as gibbsitic and typified by low reactive silica levels.
� Site and laboratory test work confirmed amenability of bauxite to upgrading to high grade product via simple wet screening.
� Licenses adjacent to established transport networks.
� Targeting alumina production quality bauxite resources to supply nearby Chinese demand.
� Benefit of options to be transferred to Hillgrove subsidiary InterMet Resources Limited at cost.

Hillgrove has, in turn, agreed to transfer these options to its 85% owned subsidiary, InterMet Resources Limited subject to InterMet shareholder approval.

InterMet will refocus its activities around the bulk commodities � bauxite, coal and iron ore both in Australia and Indonesia.

The region is a recognised bauxite province with the Indonesian major, PT Antam, owning the Tayan bauxite deposit, located between the Landak and South Tayan Projects.

For more details, including graphs and images, visit:
http://fortbridge.files.wordpress.com/2010/06/asx-hgo-options-on-indonesian-bauxite-projects-22jun10.pdf

For further information, please contact:

Mr David Archer
Managing Director
Hillgrove Resources Limited
Telephone: +61 2 8211 0404
Mobile: 0414 737 767

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