NEW ORLEANS, March 22, 2018 (GLOBE NEWSWIRE) -- First Bauxite Corporation (“First Bauxite” or the “Company”) (TSX-V:FBX) (FRANKFURT:FBI) (BERLIN:FBI) is pleased to announce that it has completed independent third party testwork on the final industrial scale trial production campaign of ultra high strength proppant (“UHSP-11”).
Ceramic Proppant (UHSP-11)
During the period April 2016 to November 2017, First Bauxite shipped 5,600mt of bauxite ore from its Bonasika deposits in Guyana to a ceramic proppant plant in Shanxi Province, China for processing into UHSP-11. Three trials were conducted over July 2016 to January 2017 to optimise plant and process conditions. These trials, as previously disclosed, provided encouraging results but due to processing challenges did not result in a product that was considered to be ready for this competitive market. A final production trial was conducted over August to November 2017 and approximately 800mt of conforming UHSP-11 was produced and shipped to a warehouse in New Orleans.
Representative samples from the final production trial were sent to two independent recognised proppant testing laboratories in the USA and one independent recognised proppant testing laboratory in the UK for long term conductivity and permeability testing. The testwork results from the industrial scale production trials confirmed earlier favourable R&D results that, compared to the market leading ultra high strength proppant products, UHSP-11 had:
- superior strength
- superior conductivity
- comparable sphericity and roundness
The technical data sheet for UHSP-11 has been updated and is available on the Company’s website (www.firstbauxite.com).
Discussions are being held with oil and gas operators and service companies on conducting market trials in offshore deepwater wells. While this is a relatively small market at the time, the Company believes it has the potential for significant medium-term growth.
Sintered Refractory Bauxite
In addition, the Company is also focusing its development activities on sintered refractory bauxite following some major fundamental changes on the supply side of the market. Enforcement of strict environmental regulations by the Chinese Central Government has led to the closure of significant numbers of sintered refractory bauxite plants in China (some on a permanent basis). This has been compounded by bauxite mine closures and a growing shortage of high quality Chinese bauxite ore. China is the largest supplier of sintered refractory bauxite and accounts for over 90% of the world’s production. First Bauxite conducted a small scale production trial processing 260mt of bauxite ore from its Bonasika deposits into sintered refractory bauxite in a refractory bauxite plant in Europe. The results compared favourably to the market leading sintered refractory bauxites from China and Guyana and further large scale production trials are planned.
Bonasika Production Campaign and Government of Guyana (“GOG”) Approvals
The GOG has granted approval for First Bauxite to ship up to 40,000mt of bauxite ore to Europe, Asia and North America for further industrial scale product and market development activities in ceramic proppants and sintered refractory bauxite. Two mining contractors have been engaged and mine production commenced at First Bauxite’s Bonasika deposits in March 2018.
The Company will provide additional business updates as further progress is achieved on the various activities discussed above.
On behalf of the Board of Directors of First Bauxite Corporation
Alan Roughead
President & CEO
About First Bauxite
First Bauxite Corporation (TSX-V:FBX) is a Canadian natural resources company engaged in the exploration and development of bauxite deposits in Guyana, South America. The Company intends to produce and sell bauxite raw ore from its facility in Guyana and intends to produce sintered refractory products and ceramic proppants for the refractory and energy industries in the future. The Company has its head office in New Orleans, Louisiana and is managed by experienced professionals with worldwide experience in the global industrial minerals industry across a number of industrial minerals. For further information on First Bauxite Corporation, please visit our corporate website at www.firstbauxite.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained herein constitute “forward-looking statements”. Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “will”, “anticipates”, “believes”, “intends”, “expects” and similar expressions. These statements include, but are not limited to, statements regarding the continued advancement of the Bonasika Project, the Company’s development plans and the Company’s outlook for potential growth in the use of UHSP-11 in offshore deepwater wells. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, effect of capital market conditions and other factors on capital availability, availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms, continuing support of the Government of Guyana for the Bonasika Project; execution of the Company’s existing plans as budgeted, including development programs for the Bonasika Project, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such budget, plans or programs, including the results of future trials and testwork or any inability to reproduce test results on a commercial scale or in the field, and other risks affecting the Company or the mining industry more fully described in the Company’s continuous disclosure documents, which are available under the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
For further information please contact:
First Bauxite Corporation
Telephone: +592-223-4396
Email: info@firstbauxite.com
Website: www.firstbauxite.com