First Bauxite Corporation releases laboratory results on bauxite proppants

First Bauxite Corporation announces the positive results of conductivity testing conducted on 4 size fractions of Intermediate Strength Proppants ("Guyprop(TM)-ISP") manufactured in a laboratory, using bauxite from the Company’s 100% owned Bonasika 1 deposit, in Guyana.

Stim-Lab, which conducted the tests, is the oil and gas industry’s foremost provider of a broad range of research and testing services for drilling, cementing, completion, and stimulation design, additive evaluation, petrology, and reservoir analysis and is recognized as a world leader in the verification of proppant properties used for hydraulic fracturing and gravel-packing operations conducted the tests.

“The progress FBX has made, from initial laboratory formulation trials to Stim-Lab testing of a high quality ISP proppant, is very encouraging. Our expert consultants have advised that this rapid progress is primarily due to the quality of the Bonasika bauxites and their suitability for proppants manufacture,” stated Hilbert N Shields, President & CEO. “Progress on the proppants pre-feasibility study, coupled with recognition of the potential added value proppants brings the Company, should assist in obtaining the necessary project financing and provide further funding options as the Company pursues the overall development of the Bonasika Project.”