Quarterly Activities Report - December 2013
Brisbane, Jan 30, 2014 AEST (ABN Newswire) - Fertoz Limited (
ASX:FTZ) announce the Quarterly Activities Report for the period ending December 2013 with the following highlights:
CANADA PROJECTS
Wapiti West
- Consistent and continuous phosphate-bearing horizon drilled and mapped along East and West Limbs for a total of 17 kilometres of strike length
- Potential strike length based on past results of phosphate-bearing horizon is now estimated at over 27km
- Bulk sample (2 tonne) taken averaging 24.3% P2O5 with low impurities
- Permit application submitted to collect up to 7,500 tonne bulk sample for farm trials and customer sales
Barnes Lake and Crows Nest
- Tenement grants have significantly increased the phosphate exploration area at Barnes Lake to 1,238 hectares (100% Fertoz)
- Small drill programme and bulk sample planned for second half of CY2014 for Barnes Lake and Crows Nest.
USA Project
Dry Ridge Proje ct, Ida ho, USA
- Option to acquire 100% of the Dry Ridge Phosphate Project
- Project ideally located in an established phosphate mining area of Idaho, USA and along strike from currently operating and proposed phosphate mines
- Fertoz has right to explore until August 30, 2016 prior to purchase
- Project is located in North America which is complementary to the Company's existing projects in British Columbia
Corporate
- An entity associated with Chairman James Chisholm purchased an additional 89,000 Fertoz shares on-market
Strategy
Since listing on the ASX in the 2013 September Quarter, Fertoz has continued exploring for highgrade phosphate resources in North America.
The Company is focused on some of the largest agricultural economies in the world with both Canada and the USA now being net importers of phosphate.
The Company intends to take advantage of these net importing phosphate markets by targeting small, high-grade resources that can be commercialised quickly and economically. Unlike a number of other phosphate companies seeking multi-million tonne deposits, Fertoz is targeting small deposits that can be selectively mined for high grade, low impurity phosphate which is particularly suited to the organic farming market or for toll-processing at third party beneficiation plants.
Fertoz has four projects in British Columbia, Canada - Wapiti (East and West), Barnes Lake and Crows Nest - all close to infrastructure. To complement the Company's existing phosphate projects in Canada, during the December quarter Fertoz acquired an option from Sulfate Resources LLC ("Sulfate") to explore and acquire up to 100% of the Dry Ridge Phosphate Project in Idaho, USA from Solvay USA Inc. ("Solvay").
Cash
The Company has cash at bank as at 31 December 2013 of $3,011,327.
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-FTZ-779779.pdf
About Fertoz Ltd
Fertoz (ASX:FTZ) is an Australian-based phosphate exploration and development company with a range of projects in British Columbia, Canada as well as Queensland and the Northern Territory. The Company is focused on becoming a fertiliser producer as quickly as possible, initially focusing on the Canadian/USA markets.
Fertoz plans to develop its exploration assets in Canada in order to identify any potential Direct Shipping Ore (DSO) projects. It intends to seek joint venture partners to assist in funding the exploration projects in Australia.
Phosphate is a commodity necessary for feeding the world, and Fertoz is ready to capitalise on this growing demand.
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