Junior phosphate developer Fox River Resources Corp., Toronto, said on Jan. 20 its National Instrument (NI) 43-101 preliminary economic assessment (PEA) study (GM Sept. 10, 2021) on the company’s 100 percent-owned Martison Phosphate Project located near Hearst, Ont., has been delayed from January to mid-March.
“The obvious complexities involved in a project of this magnitude have contributed to various time delays in completing the PEA,” said Stephen Case, Fox River CEO. “While no one likes delays, it is imperative to us that this is a thorough, realistic, and defensible study that will pass the scrutiny of the global fertilizer companies. The company remains fully funded through completion of the study, and we look forward to presenting the results.”
Fox River is currently studying a mine some 70 kilometers north of Hearst, which would consist of an open pit truck and shovel operation and all necessary ancillary infrastructure capable of producing 1.42 million mt/y of 37 percent P205 concentrate.
The product would be transported by a slurry pipeline to a plant 20 miles west of Hearst, where 730,000 mt/y of ammoniated phosphates (480,000 mt MAP, 250,000 mt NPS) would be produced, along with 220,000 mt of super phosphoric acid.