PhosCan Chemical Corp.
TSX VENTURE : FOS

PhosCan Chemical Corp.
BALTIC RESOURCES INC.
TSX VENTURE : BLR

BALTIC RESOURCES INC.

October 27, 2006 09:03 ET

PhosCan, Baltic-Initiates Pre-Feasibility for Martison Phosphate Project

TORONTO, ONTARIO--(CCNMatthews - Oct. 27, 2006) - PhosCan Chemical Corp. (TSX VENTURE:FOS) (formerly MCK Mining Corp.) and Baltic Resources Inc. (TSX VENTURE:BLR) jointly announced that they have engaged Jacobs Engineering and Golder Associates to conduct the pre-feasibility study for the Martison Phosphate project. The pre-feasibility is divided into two phases and has a total budgeted cost of US$ 2.2 million, not including owner's costs.

Phase One is to consist of resource estimates and pit planning, the preparation of a phosphate concentrate, phosphoric acid tests utilizing the hemi-hydrate process, and tests producing the two primary finished products contemplated for the market place. In conjunction, preliminary testing will take place on the quality of the gypsum produced from the phosphoric acid tests.

Phase Two is comprised of engineering studies, including the updating of all capital and operating costs, infrastructure costs, product mix, logistics and desired markets associated with the designing of a vertically integrated phosphoric acid facility.

PhosCan, as the Operator for the Joint Venture, has appointed Mr. Garry Pigg as Project Manager. For the past twenty plus years, Garry has been a senior manager and hands-on Executive for a Fortune 500 Company and major consulting firms involved in phosphate and potash mining, fertilizer raw materials and fertilizer manufacturing. He has managed and directed business development, operations, engineering, plant construction and R&D as well as product development in the United States and all over the world. Garry earned his Master of Science Degree in Chemical Engineering from Oklahoma State where he also previously received his B.S.Ch.Eng.

The Martison Phosphate Project located near Hearst, Ontario, entails the development of a vertically integrated phosphoric acid plant, utilizing the Martison phosphate deposit and sulphuric acid from the Ontario base-metal smelters. Phosphate concentrate and sulphuric acid are the two primary inputs in the production of phosphoric acid. The project is strategically positioned in proximity to target markets with access to excellent infrastructure including rail, power, labour and an abundant supply of sulphuric acid. The phosphoric acid will be used as feedstock for the production of higher-value products in the fertilizer and industrial markets that provide both an economic and logistical advantage.

"The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."

Contact Information

  • PhosCan Corp.
    Stephen Case
    President & CEO
    (416) 960-8884
    or
    Baltic Resources Inc.
    Don McKinnon
    President & CEO
    (705) 268-9000