Feb. 9, 2011 - In August 2010, First Bauxite Corp. announced the discovery of bauxite at surface in the southwestern area of its Waratilla-Cartwright Prospecting Licence ("Warcart PL") and had started drilling this LWC target on June 3, 2010.
In a release on Feb. 3, the company announced that the deposit, now named Bonasika 7, hosts a NI 43-101 compliant unwashed bauxite Indicated mineral resource estimate of 5.9 million tonnes at a grade of 57.7 percent Al2O3, 8.4 percent SiO2, 2.5 percent TiO2, 0.9 percent Fe2O3 and 29.5 percent LOI.
The August 2010 news release also announced the mineral resource estimate for the Upper Waratilla Cartwright deposit, which has now been renamed Bonasika 6. These deposits are now referred to as the Bonasika 6 and 7 deposits respectively because they are a part of the Bonasika mineralized region and are key elements to project development.
Since June 2010, 192 resource holes have been drilled on the Bonasika 7 deposit totaling 7017m on an overall 85m x 85m drill pattern. The Company has also excavated bauxite bulk samples for process test work and sent core samples to SGS Lakefield in Ontario for mineralogical studies. Core sampling has been conducted at site and 2489 chemical analyses of the core have been carried out by Acme Laboratories in Vancouver, B.C.
The exploration work on Bonasika 7 has allowed for a NI 43-101 compliant resource estimate for unwashed bauxite over a potentially mineable zone covering some 100ha. While the deposit is exposed at surface, and hence there is ready access to the deposit, the overall average overburden thickness is 28.6m; the bauxite thickness averages 4.1m.The CEO of the company Hilbert N Shields said: "With these results, FBX has now confirmed the geological prognosis that the Bonasika deposits host considerable refractory grade bauxites. While we are comfortable that there is still more bauxite to be inventoried, our focus now is on optimizing the Bonasika Feasibility Study to include the Bonasika 6 & 7 resources in the economic assessment of the project."
First Bauxite Corp. 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.
