Expands Its Fernie Phosphate Project
Brisbane, April 5, 2016 AEST (ABN Newswire) - Fertoz Ltd (
ASX:FTZ) is pleased to announce that the Company has secured 2,453 ha of land prospective for direct application phosphate at Mt Lyne, in the Elko region of British Columbia, Canada, which will form part of the Company's Fernie phosphate project. The Mt. Lyne property was granted to the Company upon application to the British Columbia department of energy and mines and is a low cost addition to the Company's portfolio of phosphate projects and potentially expands on the Company's existing direct application rock phosphate supply options. This increases the Company's land position in the Fernie project which is well serviced with road and rail infrastructure with access to well-known agricultural areas in Canada and the USA.
Mt Lyne is 15km north of the Company's 100% owned Crowsnest Property (see attached map). Historical exploration reports covering Mt Lyne suggest the property is highly prospective with potential for magnitude and phosphate grades that are similar to the Company's existing Crowsnest/Marten/Barnes Lake properties. When added to the Company's existing Fernie project, the potential strike length of the phosphate-bearing horizon within the Company's tenements now exceeds 25km.
Managing Director Stephen Keith commented: "Fertoz continues to focus on long-term growth through the acquisition of near surface phosphate targets on or near infrastructure with the potential for low-cost development. We are pleased with the significant increase in size and potential of the Fernie Project through the acquisition of the Mt. Lyne property at minimal cost. This property adds to our potential supply options as we continue to focus on our stated objective of selling 10,000 tonnes of rock phosphate this calendar year from our British Columbia projects. The 2016 calendar year is shaping up to be a transformative year for Fertoz as our sales and marketing partners assist us in moving Fertoz to a cash flow generative business by supporting our sales and marketing efforts and product positioning in the large agricultural markets of Canada and USA."
The south-eastern region of British Columbia is shaping up to be an important area for the Company, with numerous third party organic fertiliser manufacturers and users in the region, including large farming operations in South Western Alberta, Oregon, Washington State, Montana and Idaho. The infrastructure in the region is well developed and facilitates fast and efficient delivery of product. The Company is currently securing Organic Certification for direct application phosphate rock, undertaking more farming trials, and arranging the crushing of mined rock for sale to local farming establishments and fertiliser manufacturers.
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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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