Locates High Grade Phosphate at Fernie Project
Brisbane, June 11, 2014 AEST (ABN Newswire) - Fertoz Ltd (
ASX:FTZ) ("Fertoz" or the "Company") is pleased to announce that it has located historical phosphate mine shafts, associated stockpiles and a road base pit containing phosphate on the Marten tenements of its Fernie Project in British Columbia, Canada. Fertoz was aware of the existence of these from historical reports when it acquired the property, but no exact coordinates were available prior to field work.
Assays of phosphate stockpile samples using a portable Olympus X-Ray Flourescence (XRF) device were between 24% and 27% P2O5. Analysis over a grid traverse in the property was carried out with the XRF to locate the phosphorite zone which was found within a road base pit located 1,200m from the shafts. The pit averaged 20.7% P2O5 on the surface of the phosphorite zone using the portable XRF, while rock float* close to the pit exceeded 30% P2O5. The pit has good road access and is suitable for easy trenching. The location and results are provided in the map and table of results provided below and also in link below.
Fertoz is finalising the exploration permit in preparation for drilling and trenching later in 2014 at Fernie. This will be the first work carried out on the property using modern methods.
Managing Director Les Szonyi said: "We have located the phosphate horizon which enables us to carry out a small targeted drill programme and collect a bulk sample in 2014 for further testing. It is the same approach we have applied successfully at Wapiti East. Marten is particularly attractive because of the excellent road and rail access."
*Float are loose pieces of rock laying about on the surface
Table of Results
-------------------------------------------------------------------Sample # UTM Location P2O5% Error on Reading +/- P2O5-------------------------------------------------------------------Marten Upper Shaft 11 U 660604E 5494668N 27.64 0.18 MTT1 11 U 660681 5493509 24.23 0.16 Marten Upper Shaft 660689 5493503 24.44 0.13 MTT Float1 11 U 660694 5493500 20.34 0.12 Lower Shaft 11 U 660686 5494735 25.90 0.16 Waypoint #39 Float 11 U 660686 5494735 32.65 0.16 MN1 Float 11 U 660673 5494706 25.62 0.83 MNMOC14 660644E 5494801N 20.65 0.12 MNMOC14 (repeat) 11 U 660644 5494801 24.71 0.13 FLT MND 29 11 U 660638 5494561 20.91 0.13 MTT14 11 U 660733 5493337 22.51 0.14-------------------------------------------------------------------
About the Marten Tenements
Marten is a 1,215 hectare tenement package located 20km south east of Sparwood along Corbin Road between Fertoz's tenements at Crows Nest and Barnes Lake. The three lots of tenements, known as the Fernie Project, are located within 25kms of each other and are well supported by the established mining communities of Fernie and Sparwood, which are located less than 30km away and provide a ready source of labour, business and government facilities. The area has well-developed road and rail transportation, links to ports on Canada's west coast and regional centres in Alberta and the north-western United States. The Fernie Project adjoins the largest agricultural area in Canada, responsible for 80% of Canadian agricultural output. It is on the border with the United States, the largest organic market in the world.
The Consolidated Mining and Smelting Company of Canada Limited (Cominco) carried out exploration in an extensive area of phosphate bearing rocks in 1926, covered by the Marten tenements. Cominco established an underground phosphate mine for exploration purposes there in 1929, employing 13 people. Two shallow incline shafts were sunk and two small prospect tunnels were driven on the outcrop of the phosphate bed and a 7ft by 8ft drift (2.1m by 2.4m) was advanced 200 ft (61m)-Ref. BC Minfile Report 082G10.
Fertoz plans to follow the low cost model of exploration and development successfully used at the Company's Wapiti Project.
To view the table and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-FTZ-801113.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.
| ||
|
