Base Metals

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to report an updated mineral resource estimate for the Baptiste Nickel Project (" Baptiste " or the " Project ") at the Decar Nickel District (" Decar ") in central British Columbia.  The 2022 mineral resource estimate incorporates results from 2021's in-fill drilling program and is based on a new geological modelling approach and newly improved dike model, all of which contribute to significantly improved Davis Tube Recoverable ("DTR") nickel grades.  The 2022 mineral resource estimate also reports, for the first time, the content of total nickel and potential by-product elements, cobalt and iron.

Highlights

  • Significant improvement in DTR nickel grade, with a 6% DTR nickel grade increase in the indicated category and a 15% increase in the inferred category
  • First-time reporting of total nickel content facilitates more accurate benchmarking to other large-scale nickel projects and highlights the potential for recovery of non-DTR nickel in the Baptiste deposit
  • First-time reporting of DTR cobalt and DTR iron contents highlights potential new byproduct value sources for Baptiste
  • Improved mineral resource modelling approach and estimate basis developed in collaboration with Equity Exploration Consultants Ltd. (" Equity ") and Next Mine Consulting Ltd. (" NMC ")
  • An independent third-party review of the new modelling and estimation approach by SLR Consulting Ltd. (" SLR ", formerly Roscoe Postle Associates)
  • 2022 mineral resource estimate will serve as the basis for the upcoming Baptiste Preliminary Feasibility Study (" PFS "), which is forecast for completion in the second half of 2023

"The new mineral resource estimate highlights the potential for improved project economics owing to a material increase in DTR nickel grade and new opportunities for recovery of cobalt and non-DTR nickel contained in the Baptiste deposit," noted Martin Turenne , FPX's President and CEO. "This marks an important de-risking step in the ongoing development of Baptiste as a large-scale, low-cost and low-carbon nickel project, setting the stage for the completion of our current metallurgical program which will culminate with the production of battery-grade nickel sulphate in the first quarter of 2023."

Approach

The new Baptiste Mineral Resource estimate incorporates results from 2021's successful in-fill drilling program (see the Company's news release dated March 14, 2022 ).  The 2021 program included 17 holes totaling 2,856 metres, bringing total resource drilling to-date to 99 holes, totaling 33,695 metres.  As previously reported, the 2021 Baptiste resource drilling program targeted the conversion of near-surface, higher-grade inferred resources to the indicated category.

The new modelling approach includes defined geological sub-domaining, grade shell modelling and more accurate modelling of dilutive dikes; collectively better representing the scale and characteristics of the Baptiste deposit. This compares to the previous approach applied in the 2020 Preliminary Economic Assessment (" PEA ") which solely used lithology domains and an assumed 3% removal of rock mass to account for waste or dike sections within the deposit.

Summary of Results

As seen in Table 1, along with updated tonnage and DTR nickel grades, the 2022 mineral resource estimate now includes total nickel, DTR cobalt, and DTR iron that all provide new potential value sources for Baptiste.  In addition, the reporting of total nickel grade facilitates more accurate benchmarking with other large-scale nickel projects.

Table 1: 2022 Baptiste Deposit Pit-constrained Mineral Resource Estimate*

Category

Tonnes
(Mt)

Grade

Contained Metal

DTR
Ni
(%)

Total
Ni
(%)

DTR
Co
(%)

DTR
Fe
(%)

DTR
Ni
(kt)

Total
Ni
(kt)

DTR
Co
(kt)

DTR
Fe
(kt)

Indicated

1,815

0.129

0.211

0.0035

2.40

2,435

3,828

64.4

43.5

Inferred

339

0.131

0.212

0.0037

2.55

444

720

12.5

8.6

*Notes for Tables 1 and 2:

  1. Mineral Resource estimate prepared by Richard Flynn , P.Geo of NMC using ordinary kriging within grade shell domains and inverse distance squared in dike domains.
  2. Resources are reported using the 2014 CIM Definition Standards and were estimated in accordance with the CIM 2019 Best Practices Guidelines.
  3. Davis Tube magnetically-recovered ("DTR") nickel is the nickel content recovered by magnetic separation using a Davis Tube, followed by fusion XRF to determine the nickel content of the magnetic fraction; in effect a mini-scale metallurgical test. The Davis Tube method is the global, industry standard metallurgical testing apparatus for recovery of magnetic minerals.
  4. Indicated resources are drilled on approximate 200 x 200 metre drill spacing and confined to mineralized lithologic domains. Inferred resources are drilled on approximate 300 x 300 metre drill spacing.
  5. A cut-off grade of 0.06% DTR Ni was applied.
  6. An optimized pit shell was generated using the following assumptions: US $8.50 per pound nickel price; pit slopes between 42-44°; nickel payability of 96%; mining recovery of 97% DTR Ni; process recovery of 85% DTR Ni; exchange rate of US$1.00 = C$0.77 ; and total operating cost and minimum profit of US$9.37 per tonne.
  7. Totals may not sum due to rounding.
  8. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

As seen in Table 2, contained DTR nickel metal in the indicated category remains unchanged at 2.435 million tonnes, with an approximate 9% reduction in tonnage offset by an approximate 6% increase in DTR nickel grade. The indicated grade increase is primarily due to (a) the introduction of grade shell modeling; and (b) the exclusion of near or below cut-off grade material within the mineralized zone through the improved dike model; and (c) the conversion of previously inferred higher-grade material through the inclusion of 2021 in-fill drilling data.

In the inferred category, tonnage is down by 42%; however, the average DTR nickel grade has increased by 15% which mutes the reduction in contained DTR nickel metal to 34%.  The reduction of inferred tonnage is due to (a) conversion of inferred to the indicated category; and (b) the exclusion of near or below cut-off grade material at the periphery of the mineralized zone through the new geological modelling approach.

Table 2: Updated Baptiste Resource Estimate vs. 2020 PEA Resource Estimate

Category

Tonnes
(MT)

Grade
(DTR Nickel)

Contained Metal
(DTR Nickel, kt)

2020
PEA

2022
Resource
Estimate

Change
(%)

2020
PEA

2022
Resource
Estimate

Change
(%)

2020
PEA

2022
Resource
Estimate

Change
(%)

Indicated

1,996

1,815

-9 %

0.122

0.129

+6 %

2,435

2,435

-

Inferred

593

339

-42 %

0.114

0.131

+15 %

675

444

-34 %

Geological Model Update

The new modelling approach includes defined geological sub-domaining, new grade shell modelling and an improved dike model to provide an improved basis for the exclusion of near or below cut-off grade material for mine design purposes.  This compares to the previous approach, applied in the 2020 PEA, which solely used lithology domains and an assumed 3% removal of rock mass to account for waste or dike sections within the deposit.

The new grade shell modelling methodology includes grouping of DTR nickel intercepts into high-, medium-, and low-grade domains.  As seen in Figure 1, this approach defines two high-grade DTR nickel domains (>0.10% DTR nickel), each surrounded by a medium-grade domain (0.08-0.10% DTR nickel) and collectively bound by a low-grade halo (0.06-0.08% DTR nickel). This grade shell domaining has been used in conjunction with geological sub-domaining to further refine and accurately model the internal deposit variability.

The newly improved dike model incorporates data from 2021's in-fill drilling program, previously unincorporated oriented core drilling, surface geophysics, and lithological logging.  Within the deposit, two dike swarms are interpreted to strike northwest to southeast and wrap around the intrusion to the east of the deposit.  The updated interpretation now has a 95% coincidence between wireframes and assays.  The previous explicit model had a much lower coincidence at less than 65%, which means dike grades in the 2020 mineral resource estimate were associated with serpentinized peridotite and vice versa.

Dikes are non-mineralized, steeply dipping, and have widths ranging from an average of 2 to 3 metres up to 15 metres.  Separation of dike and mineralized material during mining is considered feasible due to the consistency of dike orientation and visual distinction between the respective rock types.  Figure 1 presents a plan view of the grade shell model within the mineralized peridotite and the orientation of the dike swarms.  Figure 2 presents a cross section through the thickest part of the deposit (Section A-A' from Figure 1).

Figure 1: Baptiste Deposit Plan View Grade Shells and Dike Swarms Within the Mineralized Peridotite (CNW Group/FPX Nickel Corp.)

Figure 2: Cross Section A–A' of Grade Shells and Dike Swarms Within the Mineralized Peridotite (CNW Group/FPX Nickel Corp.)

The Company expects to publish the results of the updated Baptiste Mineral Resource estimate with a NI-43-101 compliant PFS report in the second half of 2023.

Data Verification

The data used in this Mineral Resource estimate is supported by industry standard Quality Assurance and Quality Control (" QA/QC" ) procedures, such as the insertion of certified standards and blanks into the sample stream and the utilization of certified independent analytical laboratories for all assays.  Historical QA/QC data and methodology on the project were reviewed and will be presented in detail in the upcoming PFS technical report.  No significant QA/QC issues were discovered during review of the data.

All geological data used in the Mineral Resource estimate was reviewed and verified by Ron Voordouw , PhD, P.Geo. (Director of Geoscience at Equity) and Richard Flynn , P.Geo. (Principal Consultant at NMC).  Mr. Voordouw and Mr. Flynn visited the Baptiste project from July 3 rd to 5 th , 2022.  The site visit included a review of historical and recent drill core; a review of procedures used to collect, record, store and analyze project exploration data; independent sampling of ten duplicate assays sent for analysis; observation of drill hole locations; and an overview of claim/property boundaries.

NMC compared a portion of the original laboratory data certificates, geological logs, and downhole deviation in surveys within the drillhole database.  The database subset was compared line-by-line to the fundamental data and no material errors were observed during the review.  The verification data represents approximately 5% of total drilling.

Assays were composited at 5 metres to match the block size in the z-direction.  DTR nickel composite grades within the updated grade shell sub-domains of the mineralized peridotite and the dikes illustrate adequate stationarity.

Specific gravity was assigned based on lithology with only minor changes from the 2018 values; updating was based on an additional 224 measurements to bring the total number of measurements to 1,202.

Estimation

Kriging parameters, search parameters and anisotropy were determined with semi-variograms for DTR nickel content using composites falling within the mineralized domains.  As presented in Figure 3, models showed a maximum range of 1,500 metres.  The resulting search ellipsoid has a major axis trending at an azimuth of 110° with a near vertical semi-major axis.

Figure 3: DTR Ni Variogram Models for Major, Semi-Major and Minor Directions; Downhole Variogram (CNW Group/FPX Nickel Corp.)

The block model was created in Leapfrog Edge using a block size of 10 metres x 10 metres x 5 metres, while the previous block model was created in Surpac using a block size of 10 metres x 10 metres x 10 metres.

DTR nickel grades within the corresponding domains were estimated in two passes using ordinary kriging (" OK ") for grade shells and inverse distance squared (" ID 2 ") for the dikes.  A single pass nearest-neighbour (" NN ") estimate was used to decluster composites for use in model validation swath plots.  The anisotropy conforms to the search ellipsoids derived from the variogram models.  Locally varying anisotropy was used for all grade shell and dike domains.  The grade shells utilized concentric patterns that honoured the shape of their "nested" contacts and samples should be paired as such for estimation.  The high-grade shell also used the major axis of the variogram model.

Resource classifications used in this study conform to the CIM Definition Standards for Mineral Resources and Mineral Reserves (CIM, 2014). To be classified as Indicated material, a block had to be:

  1. Estimated using composites from three separate holes and restricted to the one of the four mineralized sub-domains (high-, medium-, and low-grade shells or in the dike domain); and
  2. Within a 200-metre drill spacing

Blocks not classified as indicated were assigned to the inferred category if they fell within a 300-metre drill spacing and used a minimum of two holes.

Qualified Persons

The scientific and technical information contained in this news release pertaining to the Baptiste deposit has been reviewed and approved by the following qualified persons under NI 43-101:

  • Mineral Resource estimate: Richard Flynn , P.Geo., Principal Consultant at Next Mine Consulting Ltd.
  • Data QA/QC: Ron Voordouw , PhD, P.Geo., Director of Geoscience at Equity Exploration Consultants Ltd.
  • Geology: Erin Wilson , P.Geo., Principal Geologist at FPX Nickel Corp, and Richard Flynn , P.Geo.,

The qualified persons have verified the information disclosed herein and are not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.

Additionally, an independent third-party review by SLR Consulting (formerly Roscoe Postle Associates) was undertaken of the new modelling and estimation approach.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 km 2 of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia . The district is a two-hour drive from Fort St. James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni 3 Fe), which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste deposit, and the B, Sid and Van targets, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling on all four targets.  Since 2010, approximately US$28 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste deposit, which is the most accessible and has the biggest surface footprint, has been the focus of diamond drilling since 2010 with a total of 99 holes and 33,695 m of drilling completed.  The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste deposit.  At the Van target, the Company followed up 2021's highly successful maiden drilling program with an aggressive step-out program in the summer of 2022, with results forecast for sequential release in the fourth quarter of 2022 and first quarter of 2023.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX:CA
OTXQB: FPOCF

FPX Nickel


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Nickel Rock Provides An Update On Its Nickel Properties In British Columbia

Nickel Rock Resources Inc. (the "Company" and "Nickel Rock") (TSX-V: NICL) (OTCQB: NICKLF) (FSE: NMK2) is pleased to announce the confirmation of a significant new nickel discovery from the maiden drilling program at the Van Target at nearby FPX Nickel Corp. (TSX-V: FPX) Baptiste Deposit in the Decar Nickel District as announced by FPX Nickel Corp. on October 19, 2021 ( News Release ).

"NICKEL ROCK PROVIDES AN UPDATE ON ITS NICKEL PROPERTIES IN BRITISH COLUMBIA"

As reported on July 8, 2021 , Nickel Rock has optioned out an 80% interest on certain mineral claims within the Hard Nickel 4 and Nickel 100 exploration project, to Surge Battery Metals (TSXV: NILI) in order to concentrate on its exploration efforts on the Nickel Group Claims directly adjacent to the FPX Nickel Corp. (TSXV: FPX) Baptiste Nickel Deposit.  The option transaction remains subject to TSX Venture Exchange approval.

On September 3, 2021 , the Company announced ( News Release ) that it has completed the second phase of the its initial exploration program has been completed on its Nickel exploration claims located in northern British Columbia, Canada . The BC Nickel Exploration Project (the "Project") consists of four non-contiguous mineral claims groups held by Nickel Rock Resources Inc. through three separate agreements. The exploration stage project is in the Trembleur Lake area of central British Columbia , partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

About the Nickel Project

The subject claims are partially underlain by rocks like those hosting the Decar project of FPX Nickel where mineralization includes nickel, cobalt, and chromium.  Previous exploration suggests that at least some of the nickel mineralization occurs as awaruite which is a naturally occurring nickel-iron alloy important in the manufacture of environmentally efficient batteries for the electric vehicle markets globally. The mineral awaruite is both highly magnetic and very dense and is therefore amenable to concentration by mechanical processes including magnetic and gravity separation. This style of deposit is unique and presents considerable metallurgical and processing cost saving advantages.

Significantly, the awaruite found is found in a serpentinized ultramafic rock. In 2018, G. Dipple at the University of British Columbia began the Geoscience BC funded research project "Carbon Mineralization Potential Assessment for BC" scheduled for completion in early 2021. In late 2020 a preliminary assessment report was published. One of the key items from the report was " The use of reactive serpentinite tailings from nickel mining as a carbon sink has the potential to make nickel mining carbon neutral or a net carbon sink. " The presence of serpentinized ultramafic rocks has been repeatedly documented in the areas covered by the claims of the Nickel Rock Projects, as well as at FPX Nickel Corp.'s Decar Project (Dipple, G. et.al., Geoscience BC Report 2020-15).

The Company has seen the commodity spot price for nickel to be in a steady uptrend while world stockpiles have been on the decline and EV manufacturers are calling for more supply of nickel because nickel quantities are increasing in batteries as they increase the amount of charge a battery can hold, thus allowing the EV's to travel greater distances.  One such company is Tesla Inc., the world's leading EV manufacturer. Tesla's Founder, Elon Musk , stated that a large contract would be signed if a company could produce nickel with a lowered carbon footprint by using more environmentally friendly ways of mining ( Reuters: September 11, 2020 ). Robert Setter , Company President and CEO comments " Elon Musk's comments made waves in the nickel space and several juniors have benefited from his comments and surged 2 to 3 times their value."

Robert Setter , Company President and CEO continues "We are very pleased with the results from our initial exploration program on the Hard Nickel and Nickel 100 claim group and specifically with the work completed during phase 2 of this initial exploration program.   So far, we have recorded some relatively high Ni readings measured via portable XRF on the Nickel S block, as mentioned in our news from June 28, 2021 , and our geological team suspects these ultramafic rocks have potential to host awaruite mineralization.  This second phase of exploration includes both soil and rock sampling, technical report writing, mapping and assay work, with the remaining work to be done on trenching, geological, geochemical and geophysical surveying."

Recap of the Company's 2021 Work Program

The Company currently has sufficient funds in its treasury to fully fund its 2021 proposed work program and its remaining working capital needs for 2021 and 2022.

The proposed work program consists of trenching, surface exploration, diamond drilling, camp construction, and exploration activities to support drilling and trenching such as soil sampling, rock sampling, prospecting, and geological mapping. The company proposes a 12-man camp to be built in a cirque on the north slope of the un-named mountain west of and adjacent to Mount Sydney Williams, and will be built next to a sub-alpine lake at the headwaters of Van Decar Creek . The location of camp was selected based on past exploration camps at this location and is suitable for supporting exploration. Camp will be used to accommodate field personnel and will be accessed with helicopter.  The work program is managed by Jeremy Hansen , P. Geol. and Hardline Exploration Corp.

The Company estimates that this 2021 work program includes a total of $600,000 in exploration expenditures.

Qualified Person

Jacques Houle , P.Eng., a qualified person as defined by NI 43 – 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.

About Nickel Rock Resources Inc. www.nickelrockresources.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange.  The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About Clayton Valley Nevada Lithium Project

The Company owns a 100% in 77 lithium placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone.  As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events.  These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley. https://nickelrockresources.com/clayton-valley-lithium/

About the British Columbia, Canada Nickel Projects

The Mount Sidney Williams Group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C. , in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite.  The Mitchell Range Group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The Company has optioned out an 80% interest on certain mineral claims within the Hard Nickel 4 and Nickel 100 exploration project, to Surge Battery Metals Inc. (TSXV:NILI).  The transaction is subject to Exchange approval.

The Company has entered into an Option Agreement to acquire a 100% interest, subject to a 2% NSR, in 6 mineral claims (Funk claims) located approximately 15 km west of Mt Sydney Williams near Fort St James , BC.

The Company also entered into an option agreement whereby the Company may earn an undivided 100% interest in the Klone Group of mineral claims (1,400 ha) adjoining the property of FPX Nickel Corp (TSXV:FPX) located 100km northwest of Fort St. James BC in the Omineca Mining division.

The Company has also entered an option

On Behalf of the Board of Directors

" Robert Setter "

Robert Setter , President & CEO

Neither the 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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

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Nickel Rock Resources Inc.

1220 – 789 West Pender Street

Vancouver, BC , Canada V6C 1H2

604- 428-5690

www.nickelrockresources.com

info@nickelrockresources.com

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SOURCE Nickel Rock Resources Inc.

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FPX Nickel Announces Positive PEA for Baptiste Project

FPX Nickel Announces Positive PEA for Baptiste Project

FPX Nickel Corp. (TSXV:FPX) (“FPX Nickel” or the “Company”) is pleased to announce it has received positive results from the 2020 Preliminary Economic Assessment (“PEA”) for the Baptiste Project (“Baptiste” or the “Project”) at its wholly-owned Decar Nickel District in central British Columbia. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by BBA Inc. of Montreal, Canada with work on mine planning and tailings by Stantec Inc. of Vancouver, Canada.

Production and Economic Highlights

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FPX Nickel Announces Board Appointment of Former Vale Executive Stuart Harshaw

FPX Nickel Announces Board Appointment of Former Vale Executive Stuart Harshaw

FPX Nickel Corp. (TSXV:FPX) (“FPX Nickel” or the “Company”) is pleased to announce the appointment of Stuart Harshaw, P. Eng., MBA, to the Board of Directors, effective immediately. Mr. Harshaw is a leading figure in the global nickel market, with over 30 years’ experience in the production and marketing of nickel products worldwide, including in his roles as the Vice President of Marketing and Operations for Asia Pacific and Vice President, Ontario Operations for Vale S.A. (“Vale”) until 2017.

“We are very happy to welcome Stuart to the FPX Nickel Board,” commented the Company’s Chairman, Peter Bradshaw. “Stuart has deep operational experience in the development and management of major nickel operations in North America and Asia, and has an extensive background in the marketing of nickel products to global consumers in the stainless steel and battery markets. As a recognized leader in the global nickel industry, he will play a critical role in helping us to advance our flagship Baptiste Deposit at the Decar Nickel District, fostering the ongoing development of relationships with key strategic players in the nickel market, including offtakers, trading companies and major mining companies.”

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FPX Nickel Confirms Anticipated Timing for Completion of Preliminary Economic Assessment on Baptiste Nickel Deposit

FPX Nickel Corp. (TSXV:FPX) (“FPX Nickel” or the “Company”) is pleased to provide an update on its corporate activities, including its plans for the preparation of an updated National Instrument (“NI”) 43-101 preliminary economic assessment (“PEA”) report on the Company’s Baptiste Deposit at its 100%-owned Decar Nickel District in central British Columbia. As previously disclosed in its news release dated February 25, 2020, the Company anticipates completion of the PEA in the late third quarter or fourth quarter of 2020.

FPX Nickel continues to monitor the outbreak of COVID-19 and the health and safety of its employees and consultants, who are being encouraged to work from home, where possible. The Company has access to all field and laboratory data which it requires to complete the preparation of the updated Baptiste PEA, and as a result does not anticipate any changes in the projected timeline for the completion of the study.

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FPX Nickel Closes Private Placement for $1,500,000

FPX Nickel Corp. (TSXV:FPX) (“FPX” or the “Company”) is pleased to report that it has closed its previously announced non-brokered private placement of 8,333,332 shares at $0.18 per share for gross proceeds of $1,500,000 (the “Offering”).

The closing follows receipt of Conditional Acceptance of the Offering from the TSX Venture Exchange (“Exchange”). Within the next several days, FPX will be submitting the documentation needed the enable the Exchange to issue its Final Acceptance of the Offering. The Company anticipates receiving Final Acceptance shortly thereafter.

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Forte Minerals Appoints New Independent Director

Forte Minerals Appoints New Independent Director

Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) ( Frankfurt : 2OA ) is pleased to announce the appointment of Mr. Richard Leveille to the Company's board of directors, bringing it to a total of five members.

CSE: CUAU (CNW Group/Forte Minerals Corp.)

Mr. Richard Leveille has an accomplished career that spans over forty years. He attended the University of Utah , graduated with a B.Sc. in Geology, and later completed his Master's in Geology from the University of Alaska.

His work experience progressed through companies such as AMAX, Kennecott, Rio Tinto, and Phelps Dodge . Notably, Mr. Leveille was also the Senior Vice President of Exploration for Freeport Copper & Gold, where he managed the team that helped add significant copper to reserves and made the Chukarui Peki discovery in Serbia, which shared the 2016 PDAC Thayer Lindsley International Mineral Discovery Award.

Since his retirement at Freeport in 2017, Mr. Richard Leveille has been working as a Consulting Geologist focusing on mineral exploration projects in Australia , South America , and the United States .

Forte is pleased to welcome Mr. Richard Leveille to the team. " Richard is a great addition and brings extensive mining industry expertise to the Company. We believe we've established a well-rounded group of professional board members and look forward to utilizing everyone's knowledge to generate shareholder value," said Patrick Elliott , President & CEO.

The Company has granted Mr. Richard Leveille 250,000 stock options with an exercise price of $0.20 , exercisable for five years.

ABOUT Forte Minerals CORP

The Company is committed to maximizing shareholder value through acquiring, exploring, discovering, and developing copper and gold projects in Perú. Moving rapidly along the line of opportunity towards a value maxima is very attractive to investors. Significant value growth is generated when early-stage exploration moves towards resource definition while zoning in on target development and eliminating the early-stage grassroots risk. All three of Forte's properties offer this opportunity, with tremendous upside considering their geological potential.

On behalf of Forte Minerals CORP.

(signed) " Patrick Elliott "
Chief Executive Officer

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/forte-minerals-appoints-new-independent-director-301692177.html

SOURCE Forte Minerals Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/02/c0073.html

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Noble Mineral Closes Non-Brokered Private Placement

Noble Mineral Closes Non-Brokered Private Placement

(TheNewswire)

Noble Mineral Exploration Inc.

Toronto, Ontario TheNewswire - December 2, 2022 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce the closing of its previously announced (see the news release dated November 15, 2022) non-brokered private placement (the " Private Placement ") whereby it raised gross proceeds of $562,500 (before fees and expenses) through the issuance of 6,250,000 flow-through common share units (" FT Units ") priced at $0.09 per unit. Each FT Unit was comprised of one common share issued as a "flow-through share" as defined in the Income Tax Act (Canada) and designated as a flow-through common share (" FT Share ") and one-half non-flow-through common share purchase warrant, each full warrant being exercisable for three years for one common share in the capital of the Company at an exercise price of $0.11 per common share.

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FPX Nickel Closes $12 Million Equity Investment From New Corporate Strategic Investor

FPX Nickel Closes $12 Million Equity Investment From New Corporate Strategic Investor

/THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./

FPX Nickel Corp. (TSXV: FPX), (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has closed the private placement financing (the " Private Placement ") with a new corporate strategic investor (the " Strategic Investor "), as previously announced in the Company's November 29, 2022 news release.

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Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$14 Million Convertible Debenture Interest Payment Obligations

Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$14 Million Convertible Debenture Interest Payment Obligations

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces that in accordance with the terms of the US$5,000,000, US$4,000,000 and US$5,000,000 eight per cent convertible debentures issued to Queen's Road Capital Investment Ltd. ("Queen's Road Capital") on June 2, 2021, April 4, 2022 and September 2, 2022 (the "Convertible Debentures") the Company has elected to issue 10,172 common shares in the capital of the Company ("Common Shares") at a deemed price of US$10.28 (C$13.80) to Queen's Road Capital as payment for US$104,568 (C$140,304) in interest owing on the Convertible Debentures.

Under the terms of the Convertible Debentures, interest is payable quarterly, five per cent in cash and three per cent in shares, at the greater of: (i) the 20-day volume weighted average price prior to the interest payment date; or (ii) the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange (the "TSX-V")).

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StrategX Reports Significant Mineralization in Drill Core at Nagvaak Project

StrategX Reports Significant Mineralization in Drill Core at Nagvaak Project

StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company"), reports significant mineralization in drill core that resembles surface rock samples having returned high values greater than 1% nickel equivalent (NiEq) and 0.5% vanadium pentoxide. Approximately 1,000m of well-preserved stored core from a 1996 drill program completed by BHP at Nagvaak was logged in detail with a focus on identifying mineralized intervals for energy transition metals. The previous drill program by BHP focused on exploring for zinc mineralization outlined by a gravity anomaly and multiple EM conductors central to the Nagvaak target area. The Company's exploration program confirmed the location of the BHP drillhole collars and incorporated the drill holes and recently completed ground geophysical survey results into a sectional interpretation (see news release dated October 14th, 2022). Utilizing a handheld XRF spectrometer, the StrategX exploration team identified mineralized zones anomalous in nickel, vanadium, cobalt, copper, molybdenum, and silver. A total of 354 drill core samples were taken and sent to SRC laboratory for assaying.

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Sokoman and Benton Channel Samples up to 13.57% Cs2O and Confirm High-Grade Cesium Discovery at the Golden Hope Joint Venture, Southwestern Newfoundland

Sokoman and Benton Channel Samples up to 13.57% Cs2O and Confirm High-Grade Cesium Discovery at the Golden Hope Joint Venture, Southwestern Newfoundland

Channel sampling at the Hydra Zone returns up to 13.57% Cs2O

Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman") and Benton Resources Inc. (TSXV:BEX) ("Benton") together, (the "Alliance") are pleased to announce that recent channel sampling at the cesium dyke prospect has confirmed a potentially significant high-grade cesium discovery dubbed the Hydra Zone, on the Golden Hope Project in southwestern Newfoundland

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