Fertoz Initiates Road Construction at its Wapiti Project
Brisbane, Aug 16, 2016 AEST (ABN Newswire) - Fertoz Ltd ("Fertoz" or the "Company") (
ASX:FTZ) is pleased to announce that the Company has initiated road construction at its Wapiti Phosphate Project to provide access for extraction of a bulk sample which is expected to commence in September of 2016 in British Columbia, Canada.
Highlights
- Fertoz commences development of Wapiti Project to supply organic input rock phosphate fertilizer to the growing North American organic market
- Road construction commenced which will provide immediate access to the 17,500 tonne bulk sample area at Wapiti
- Road will also be utilised once the Company receives its small mine permit of 75,000 tonnes per annum
- Bulk sample program expected to start in September to meet the Company's target of 10,000 tonnes of sales by the end of 2016
The road will provide better access to the Company's permitted 17,500 tonne bulk sample area at the Wapiti Phosphate Project. The company has hired local and Treaty 8 First Nations contractors to work on the access trail, clearing of timber, construction of the trail, bridge installation and bulk sample access with the objective of starting the bulk sample extraction to meet the Company's target of selling 10,000 tonnes of organic rock phosphate in 2016. This road access and establishment of the site will provide longer term access to the Company's proposed mine once the Company obtains approval for its 75,000 tpa small mine permit.
The Company expects the new road and trail upgrades to be completed by the end of August 2016 after which the Company will commence trenching and bulk sampling in September. Local First Nations have been engaged to assist the Company with road construction in this first phase of development and the Company looks forward to further discussions with First Nations to progress the project.
Managing Director Stephen Keith commented: "We are very pleased with the continued progress at our BC Phosphate projects, especially in light of the growing demand for organic input fertilizers. The road construction is first step to enable the Company to achieve its goal of selling 10,000 tonnes of its certified organic phosphate in 2016. Fertoz will be the only producing phosphate mine in Canada and, with our certification as an organic input fertilizer in the US and Canada, we will be well placed strategically to take advantage of this significant market. As we move towards production and look to cost effectively access additional material, we are well situated to take advantage of this growing market which, in turn, will lead to significant returns for our shareholders and partners."
Organic Agriculture in Canada
The Company's Wapiti and Fernie Phosphate Projects are ideally located to provide certified rock phosphate to the growing organic food market in Canada. Fertoz's rock phosphate products have been certified for use in the production and/or processing of organic agriculture products in compliance with the requirements of the Canadian Organic Standards (COS) and the USDA National Organic Program.
According to Canada Organic Trade Association, Canada has seen a steady rise in organic agricultural land since 2000, increasing from 340,200 hectares to 903,948 hectares in 2014, or equivalent to a 7.2% compound annual growth rate (CAGR). This is represented by a total of 3,780 organic producers. Western Canada (British Columbia, Saskatchewan, Alberta and Manitoba) is the organic lead region of the country and location of 84% of total planted area and 49% of organic producers. The north-western USA states of Oregon, Washington, Idaho and Montana are also large organic agricultural areas that are easily accessible to the Company's Fernie project.
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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