Fertoz Limited: Wapiti Bulk Sample Approval
February 25, 2014 (Source: Fertoz Limited) — Highlights:
- Permit approved for up to 7,500 tonnes of bulk sample at Wapiti East
- Wapiti East extended to include camp site and bulk storage depot at access road
Fertoz Limited (“Fertoz” or the “Company”) is pleased to announce that the British Columbia Ministry of Energy and Mines has approved a permit to allow the Company to extract a surface bulk sample from Wapiti East of up to 7,500 tonnes of phosphate rock during the Canadian winter.
The Company will access the Wapiti East site across Red Deer Creek via an ice bridge.
Fertoz has extended its holding at Wapiti East by 506.6 hectares so that parts of the access road, the camp, and phosphate storage area are all on Company tenements. Fertoz has been granted tenements 1023921, 1023922 and 1023923.
The bulk sample is scheduled for collection in March but exact timing will be dependent on the weather. A permit for a further bulk sample in the warmer months is also underway.
Managing Director Les Szonyi said: “The Wapiti East project is proceeding to schedule. The next steps after the collection of the bulk sample are to commence farm trials and to continue with laboratory testing in relation to organic certification of the Wapiti rock phosphate.”
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Fertoz is exploring for high grade phosphate resources in Canada and the United States of America, which are two of the largest agricultural economies in the world and which both import phosphate rock. Fertoz has five projects in Canada – Wapiti (East and West), Barnes Lake, Crows Nest and Marten – all proximate to infrastructure, and an option on one project in Idaho, USA, again proximate to infrastructure. Fertoz is targeting small, high grade resources in the Americas that can be commercialised quickly and inexpensively, with high grade product sold to organic farmers or third-party fertiliser plants.
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Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Fertoz. These risks, uncertainties and assumptions include (but are not limited to) commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates.
Actual values, results or events may be materially different to those expressed or implied in this document. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statement in this document is valid only at the date of issue of this document.
Subject to any continuing obligations under applicable law and the ASX Listing Rules, or any other Listing Rules or Financial Regulators’ rules, Fertoz, its agents, directors, officers, employees, advisors and consultants do not undertake any obligation to update or revise any information or any of the forward looking statements in this document if events, conditions or circumstances change or that unexpected occurrences happen to affect such a statement.
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>