DuSolo Updates Infill Drilling Progress at Santiago in Preparation for Direct Application Natural Fertilizer Extraction and Processing
August 21, 2014 (Source: Marketwired) — DuSolo Fertilizers Inc., (TSX VENTURE:DSF)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) (“DuSolo” or “the Company”) is pleased to provide an update to the Reverse Circulation (“RC”) Infill Drilling Program commenced on July 28th, 2014 at the Santiago Target – STW Domain. The specific area selected for this RC drilling program is where the Company intends to begin extracting and processing at surface high-grade phosphate into Direct Application Natural Fertilizer (“DANF”) in order to cater the strong demand for this product from local farms within the Bomfim Projects’ vicinity.
The RC Infill Drilling campaign is ongoing and the Company has completed to date a total of 31 vertical holes (613 meters) of the 42 holes planned with results expected shortly. The program has followed a systematic 25 by 25 meter regular grid covering an area of 30,000 square meters. Though this area represents a small portion of the Santiago target, it contains according to the Company’s estimates, enough high-grade resources to provide for multiple years of DANF processing based on the current capacity of the recently secured DANF facility now in place. The Santiago target was previously drilled and defined by way of an NI 43-101 compliant Initial Resource Estimate announced January 2014 (3.4Mt @ 14.5% P2O5 inferred – using an 8.0% Cut Off Grade).
“Today’s news yet again demonstrates how the Company is relentlessly pursuing its strategic plan to become a phosphate producer in one of the world’s largest fertilizer nations.” Commented Eran Friedlander Dusolo’s President & CEO “We are convinced The Bomfim Project represents a very rare opportunity in the mining world. After all, with very little upfront capital and through a very simple process DuSolo will be in a unique position of becoming the only local supplier of a rare fertilizer product that will cater to the strong and fastly growing demand of a domestic world class marketplace.”
The Company implements industry recognized QA/QC methods at the project by inserting high and low grade standard samples, blanks and duplicates. Chips from RC drilling are collected in bags for each one meter interval. Chips are logged at the drill site and the samples are taken to a core shack located at DuSolo’s field office. At the core shack the samples are then crushed and screened to less than 2mm prior to homogenization and quartering. An aliquot of one quarter from each sample is then sent for analysis.
To view infill drilling location map click here: http://media3.marketwire.com/docs/963901.pdf
DIRECT APPLICATION NATURAL FERTILIZER
Get our daily investorintel update
With a processing facility now in place, DuSolo, through a series of crushers, screens and mills intends to process the a small portion of the high-grade phosphate discovered at the Santiago target into three (3) DANF products of different phosphate grades (12%, 15%, 18% P2O5). Unlike other phosphare based fertilizer products, DANF processing is simple and apart of screen separation (a process that relies on physical attributes) does not entail flotation and/or further beneficiation. DANF is used alongside the standard and more costly Nitrogen, Phosphate and Potash (“NPK”) blend to compensate for elevated nutrient depletion as a result of heavy tropical rainfalls. Farmers in the region have become accustomed to using DANF on their crops over the past several years but due to recent restrictions in supply, are no longer able to source it locally. DuSolo, as a result of its recent high-grade discovery, intends to fill the current void in this rapidly expanding marketplace by providing farmers with a local alternative supply for years to come.
Mauricio Prado, Bomfim’s Project Manager, is a Qualified Person under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the technical disclosures of this press release on behalf of the company.
ABOUT THE COMPANY
DuSolo Fertilizers Inc. is focused on developing a fully integrated process to produce phosphate based fertilizers within the Cerrado region of Brazil as part of a nationwide effort, incentivized by the government to increase supply of domestically sourced fertilizers and achieve agricultural self sufficiency.
The Company’s shares are publicly traded on the TSX Venture Exchange under the symbol DSF, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
DuSolo Fertilizers Inc.
Eran Friedlander, President
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>