First Bauxite Corporation
TSX VENTURE : FBX

First Bauxite Corporation

October 27, 2009 09:30 ET

First Bauxite Corporation Commissions Met-Chem to Conduct Full Feasibility Study of Bonasika Bauxite Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2009) - FIRST BAUXITE CORP. ("First Bauxite" or the "Company") (TSX VENTURE:FBX) -

First Bauxite is pleased to announce that it has entered into an agreement with Met-Chem Canada Inc. ("Met-Chem") of Montreal, Quebec, Canada whereby Met-Chem has been engaged to conduct a full Feasibility Study of the Company's 100% owned Bonasika bauxite deposits in Guyana. First Bauxite had previously been conducting a Pre-Feasibility Study, and had engaged Aluminpro (Aluminium Industrial Professionals Inc.) to conduct ore resource and reserve and mine planning studies, and Met-Chem to supervise its wash plant and ore processing test work. The Company has now made the decision to upgrade the study to a full Feasibility Study for which Met-Chem will have overall responsibility. The Company expects that the Feasibility Study will be available to it for evaluation during the first quarter of 2010.

First Bauxite and Met-Chem have agreed on a multi service provider approach, which will provide the Company with an opportunity to draw on the engineering, manufacturing and consulting expertise most suitable for the various components of the Feasibility Study. Aluminpro, who have been providing QA & QC oversight of the Company's drill program, will be responsible for the geology and ore resource; Met-Chem will be responsible for mining reserves, mine planning, the wash plant for ore beneficiation and all infrastructure and services; Roche Ltd., through Met-Chem, will be responsible for the tailings impoundment and oversight of the Guyanese consulting firm EMC (Environmental Management Consultants Ltd.) on the environmental management plan; CEMCO Inc. of Guyana will provide haul road design, civil and earth works and all geotechnical input; and Polysius AG will be responsible for the engineering and design of the agglomeration, drying and calcination plants.

About First Bauxite and Bonasika Mining Licence

First Bauxite Corporation (TSX VENTURE:FBX) is a Canadian natural resources company engaged in the exploration and development of bauxite deposits, through resource discovery and mining within a niche industrial market. The company has its head-office in Vancouver and its current assets in Guyana, South America and is managed by experienced geoscientists and business development professionals with worldwide experience in the exploration and mining business across a number of mineral commodities. The mission of First Bauxite is to become a near term, medium size producer and supplier of high quality refractory grade calcined bauxite. First Bauxite controls a large land package in Guyana's historical coastal bauxite belt, including the Bonasika Mining Licence and the Waratilla Prospecting License, covering deposits which were drilled in 1940's-60's by ALCAN and which host near surface deposits of refractory grade bauxite. First Bauxite has additional upside potential to the metallurgical bauxite business, through an option agreement with Rio Tinto Alcan, whereby Rio can earn up to 75% interest in the Company's exploration ground by expending up to US$58 million in stages. For further information on First Bauxite Corporation, please visit our corporate website at www.firstbauxite.com.

On behalf of The Board of Directors of First Bauxite Corporation

Ioannis (Yannis) Tsitos, President & Director

Hilbert N. Shields, CEO & Director

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.

Neither 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.

Contact Information

  • First Bauxite Corporation
    Ioannis (Yannis) Tsitos
    President & Director
    604-806-0916
    604-806-0956 (FAX)
    www.firstbauxite.com