First Bauxite Corporation

First Bauxite Corporation

February 22, 2010 10:30 ET

First Bauxite Corporation Reports Drilling Results at Waratilla-Cartwright PL and Status Update of Bonasika Feasibility Study

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2010) - FIRST BAUXITE CORP. ("First Bauxite" or the "Company") (TSX VENTURE:FBX)(FRANKFURT:FBI) -

In December, 2009 the company announced the start of sonic drilling of the bauxite deposits contained in the Waratilla-Cartwright Prospecting Licence ("Warcart PL") to explore the extent, quality and continuity of the deposits and to prepare a NI 43-101 compliant resource estimate. First Bauxite is pleased to present the results of this drilling for which analytical results are available to February 15.

The Company is also pleased to announce that it is on schedule and continues to achieve significant progress in the preparation of a Feasibility Study for the development of the Bonasika Refractory Bauxite Project. The drilling at Warcart PL is expected to add significantly to the bauxite tonnage available for the project as well as significantly enhancing the quality of the resource available. The focus of exploration is centered some 8km southeast of the Bonasika 1 deposit.

Results of the Waratilla Cartwright Drilling

A Phase I drill program has been initiated on the Warcart PL using a newly purchased sonic drill rig (SD550-180) capable of penetrating the greater depths of bauxite in this area and yielding core of 8.1 cm diameter.

To mid-February 55 holes have been drilled on the property totaling 2,556m on a 120 x 120m drill pattern. In addition, the Company has collected and sent 708 samples for analysis to Acme Laboratories in Vancouver, B.C; the results of the analytical test work are available for 32 holes and the significant bauxite intersections are provided in the table below:

      Cut-off s greater than 48%Al2O3 and less than 20%SiO2  
Hole Bauxite Interval Bx. Thickness Stripping % % % % %
Number From m To m m Ratio SiO2 TiO2 Al2O3 Fe2O3 LOI
WCSD001 41.32 44.67 3.35 12.33 8.69 2.11 60.63 0.84 27.43
WCSD002 30.46 35.43 4.97 6.13 6.73 2.17 60.34 0.81 29.41
WCSD003 22.40 31.64 9.24 2.42 4.82 2.37 61.01 0.60 30.78
WCSD004 22.51 29.52 7.01 3.21 7.21 2.39 59.01 1.05 29.95
WCSD005 31.23 34.48 3.25 9.61 7.02 1.99 60.00 0.88 29.72
WCSD006 31.54 34.66 3.12 10.11 9.38 2.18 58.38 0.66 29.05
WCSD007 24.86 26.91 2.05 12.13 17.39 2.47 53.02 1.03 25.61
WCSD008 20.98 27.44 6.46 3.25 3.41 2.44 61.35 0.82 31.40
WCSD009 24.95 31.34 6.39 3.90 8.22 2.3 59.44 0.73 28.86
WCSD010 35.56 40.69 5.13 6.93 4.97 2.42 62.31 0.91 28.94
WCSD013 52.05 56.31 4.26 12.22 5.57 2.51 60.92 0.86 29.64
WCSD014 42.88 47.75 4.87 8.80 5.87 2.06 60.47 0.74 30.45
WCSD015 31.46 35.84 4.38 7.18 6.48 2.2 60.24 0.61 29.95
WCSD016 24.42 30.46 6.04 4.04 8.75 2.17 58.35 0.86 29.37
WCSD017 31.9 37.57 5.67 5.63 5.22 2.54 61.02 2.83 27.92
WCSD018 40.48 48.03 7.55 5.36 2.85 2.55 62.74 0.74 30.63
WCSD019 51.15 55.72 4.57 11.19 7.48 2.08 59.69 0.80 29.43
WCSD021 26.74 31.28 4.54 5.89 5.28 3.23 59.65 0.49 30.83
WCSD022 37.48 43.67 6.19 6.05 5.96 2.83 59.49 0.65 30.26
WCSD035 34.57 37.93 3.36 10.29 9.27 1.96 57.51 1.61 29.25
WCSD036 25.83 30.10 4.27 6.05 10.05 2.07 55.81 0.99 30.5
WCSD037 24.28 27.7 3.42 7.10 9.90 1.96 58.79 0.69 28.27
WCSD038 27.55 33.35 5.80 4.75 8.77 2.06 57.15 2.04 29.49
Average 32.02 37.06 5.04 6.36 6.76 2.33 59.78 0.97 29.67

NB Some holes in the sequence have not yet been analyzed. Maximum 12.5:1 Stripping Ratio

The above holes indicate a continuous zone of mineralization over an area of 1.3km x 500m (7ha) within the Waratilla-Cartwright Prospecting Licence (4000ha). These excellent results illustrate the high potential for expanding the Company's resource inventory with premium grade bauxites. The former limited Demba (Alcan subsidiary) drilling (1960s) provides a good guideline for on-going exploration.

The drill program continues supervised by Mr. Bryan S. Osborne, P.Geo of Aluminpro Inc., who is the designated Qualified Person as defined by NI 43-101 and has reviewed the above exploration information for accuracy.

Feasibility Study Bonasika Project Update

Met-Chem is well advanced towards completion of the Feasibility Study and current activities include finalizing the bauxite beneficiation process flow sheet and lay-outs as well as coordinating the work of its sub-contractor Roche who is engaged in the tailings pond design, water management and related environmental aspects.

Polysius, a subsidiary of Thyssen Krupp is undertaking the engineering design for the agglomeration and sinter plants aiming to produce 100,000 MTS per annum of dead burned bauxite using a pressurized vertical shaft kiln.

Outotec has conducted a number of wash plant related tests aimed at optimizing process flow for silica removal and magnetic separation of iron minerals.

Aluminpro (Aluminium Industry Professionals Inc.) has provided oversight of the Company's exploration program since inception and has prepared resource models and resource estimates for Bonasika 1, 2 and 5 as a basis to mine planning by Met-Chem. The Waratilla resources will also be modeled and estimated by Aluminpro.

Golder and Associates have completed field geotechnical investigations of the mine, disposal and plant areas.

Met-Chem continues to advance and coordinate the various engineering and disciplines design ensuring effective interfaces between the various contributors to the study and is collating the various elements for operating and capital cost estimates. A draft of the Feasibility Study is on schedule to be available for a review by the Board of Directors in the first quarter, 2010.

The CEO of the company Hilbert N Shields commented that "the initial drill results from Warcart are confirming the presence of very high quality refractory grade bauxite as indicated by the historical Alcan drilling and at the same time quantifying significant tonnages of bauxite, which can potentially add value to the Bonasika Mine by extending the resource base and the mine life and thus assure customers of a long term supply of refractory bauxite from FBX."

About First Bauxite Corporation

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. The Company has commissioned a Feasibility Study over the Bonasika Project to analyze the technical and economic parameters of an independent mining and processing operation and is currently drilling the Waratilla bauxite deposits to outline the resources and to upgrade the historical reserves to NI 43-101 compliance. 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. Finally, the Company recently entered into a Letter of Intent with Bauxite Corporation of Guyana Inc. ("BCGI") to acquire all of the issued and outstanding shares of BCGI and accordingly, 100% of its interest in the contiguous Tarakuli and Tarakuli North-West Prospecting Licenses in Northeast Guyana, which host an historical inferred bauxite resource of significant size and quality (February 9, 2010 News Release). For further information on First Bauxite Corporation, please visit our corporate website at

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
    604-806-0956 (FAX)