FPX Nickel Produces Battery-Grade Nickel Sulphate and Successfully Completes Pilot-Scale Refinery Testwork

FPX Nickel Produces Battery-Grade Nickel Sulphate and Successfully Completes Pilot-Scale Refinery Testwork

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has successfully completed pilot-scale hydrometallurgy refinery testwork and produced battery-grade nickel sulphate from its Baptiste Nickel Project (" Baptiste " or the " Project ").  Following on the Company's successful 2023 bench-scale hydrometallurgy refining testwork program, the 2024 pilot plant represents a significant step forward in demonstrating the technical maturity of refining Baptiste's awaruite concentrate.  This milestone marks completion of the campaign funded in part by a grant from Natural Resources Canada (" NRCan ") under the Government of Canada's Critical Minerals Research, Development and Demonstration (" CMRDD ") program, which is advancing the commercial readiness of processing technologies to support the development of Canada's EV battery material supply chain.

Highlights

  • Successful Pilot-Scale Testwork: Continuous pilot-scale testing of all leaching unit operations confirmed the refinery flowsheet and generated the expected low-impurity leach solution for downstream purification and crystallization testwork
  • Flowsheet Optimization: Testwork has led to flowsheet improvement through the removal of unit operations in the leaching area that proved redundant during continuous, steady-state piloting
  • Production of Battery-Grade Nickel Sulphate: Bench-scale testing of solution purification and crystallization unit operations further demonstrate FPX Nickel's ability to produce battery-grade nickel sulphate crystals from Baptiste's awaruite concentrate

"The results of our hydrometallurgy refinery pilot plant testwork confirm the technical advantages of awaruite nickel mineralization to produce battery-grade nickel sulphate, further demonstrating the opportunity to develop a more streamlined nickel supply chain entirely in Canada ," commented Andrew Osterloh , FPX Nickel's Senior Vice-President, Projects & Operations.  "Baptiste would represent an almost 50% increase to Canada's current annual nickel production, all without adding to or displacing any of Canada's nickel smelting or complex refinery capacity, thereby pioneering a uniquely low-cost, low-carbon link between mining and EV battery production.  The results from our pilot plant testwork are currently being incorporated into our Awaruite Refinery Scoping Study, which will contain a detailed evaluation of capital, operating costs and the overall economics of the awaruite refinery; the Study remains on track for completion in the first quarter of 2025."

Figure 1 – Battery-Grade Nickel Sulphate Crystals Produced from Baptiste's Awaruite Nickel Concentrate (CNW Group/FPX Nickel Corp.)

Background

As reported in the Company's news release dated April 30, 2024 , FPX operated a mineral processing pilot plant earlier this year and successfully generated awaruite concentrate to feed a downstream hydrometallurgical refining pilot plant (the " 2024 Hydromet Program ").  FPX re-engaged Sherritt Technologies Ltd. to conduct the 2024 Hydromet Program, building on Sherritt's successful completion of the previous bench-scale hydrometallurgical testwork in 2023 (the " 2023 Hydromet Program ", described in the Company's May 17, 2023 news release).

Building on the 2023 Hydromet Program, the 2024 Hydromet Program aimed to further demonstrate the viability of FPX's refinery flowsheet under pilot-scale and continuous operating conditions.  Additionally, the 2024 Hydromet Program also aimed to validate the new ammonia-based purification flowsheet, as discussed in the Company's news release dated September 16, 2024 .

Hydrometallurgical Refinery Pilot Plant

The 2024 Hydromet Program was conducted in two phases.  Phase 1 consisted of continuous, pilot-scale processing of all unit operations in the leaching area as outlined in Figure 2.  Phase 2 consisted of batch, bench-scale processing of all unit operations in the purification and crystallization area.  A portion of leach solution produced during Phase 1 has been reserved for future continuous, pilot-scale processing of the purification and crystallization area, ensuring the final refinery strategy is supported by purification and crystallization requirements defined in collaboration with FPX Nickel's downstream partners.

Figure 2: Awaruite Refinery – Updated Block Flow Diagram (CNW Group/FPX Nickel Corp.)

Leaching Area

Continuous, pilot-scale leaching ran for five days and was fed with the high-grade (60% Ni) awaruite concentrate produced during the earlier mineral processing pilot plant.  The flowsheet configuration and operating conditions were the same as the 2023 Hydromet Program, with pressure leaching conducted at a moderate temperature (150°C) and pressure (750 kPag).  The key performance metrics established at the start of the pilot plant campaign were to obtain high overall nickel and cobalt leach extractions while generating a final leach solution with high nickel and low impurity concentrations.

These key performance metrics are summarized in Table 1, which also presents the basis of the previous economic study (see the Company's news release dated September 6, 2023 ).  In the pressure leach, excellent nickel and cobalt overall leach extractions were achieved at 99.3% and 97.9%, respectively.  These high extractions include the unoptimized start-up period, highlighting the robustness of the leach system.

In the atmospheric leach (which utilizes awaruite to neutralize and purify the pressure leach solution), excellent impurity removal was achieved, including the near-complete removal of iron, aluminum, chromium and copper.  The final leach solution contained greater than 100 g/L nickel, which is very high by industry standards and will reduce the capital and operating costs for downstream purification and crystallization unit operations.  The impurity elements of zinc, manganese, and calcium are all low due to the inherent low concentration of these impurities in Baptiste's awaruite concentrate.

Table 1 – Leaching area key performance metrics achieved during piloting


Pilot Plant
Results

Previous Study
Basis

Overall Leach Extractions

Nickel (%)

99.3

99.3

Cobalt (%)

97.9

99.5

Final Leach Solution Composition

pH

5.5

>4.5

Nickel (g/L)

104

95

Cobalt (g/L)

2.1

1.5

Magnesium (g/L)

1.6

1.5

Iron (g/L)

Aluminium (g/L)

Chromium (g/L)

Copper (g/L)

Zinc (g/L)

0.01

Manganese (g/L)

0.01

Calcium (g/L)

0.01

In addition to the core leaching operations, the leaching area also includes two smaller circuits to manage build-up of certain trace elements, including copper removal and aluminum/chromium removal.  The copper removal circuit, which removes copper by a cementation process, was successfully operated during piloting. Aluminum and chromium were both shown to deport with pressure leach residue, supporting the deletion of this slipstream removal circuit, thereby simplifying the overall leach flowsheet.

Additionally, solid-liquid separation characterization testing was completed on both pressure leach and atmospheric leach residues, with reasonable settling and filtration rates observed for both.  These results will inform dewatering equipment sizing and specifications in the ongoing Awaruite Refinery Scoping Study.

Purification and Crystallization

A portion of the bulk solution generated from the leaching area pilot was processed in bench-scale batch testing through cobalt solvent extraction, nickel solvent extraction, and nickel sulphate crystallization.  This purification scheme is simpler relative to that required to process other nickel intermediates such as MHP and MSP, with this simplicity made possible by the low impurities contained in, and the neutralization properties of, the awaruite concentrate.

In order to validate the new purification flowsheet developed during Refinery Value Engineering studies (see the Company's news release dated September 16, 2024 ), solvent extraction operations utilized ammonia as the neutralizing reagent (rather than caustic, which was used in the 2023 Hydromet Program).  Along with lower operating costs, the change to an ammonia-based flowsheet allows for the production of an ammonium sulphate byproduct, a valuable fertilizer product, instead of the previous sodium sulphate waste product.  The new ammonia-based purification unit operations achieved similar successful performance and results as those achieved during the 2023 Hydromet Program, with the produced crystals (see Figure 1 and Table 2) continuing to meet the strict target specifications for battery applications.

Table 2 – Baptiste Nickel Sulphate Crystal Quality vs. Target Specification

Element

Units

Nickel Sulphate Crystals

Baptiste Testwork

Target Specification 1

Nickel

wt%

>22

>22

Aluminum

ppm

Arsenic

ppm

Calcium

ppm

Cadmium

ppm

Cobalt

ppm

1

Chromium

ppm

Copper

ppm

Iron

ppm

Potassium

ppm

Magnesium

ppm

3

Manganese

ppm

Sodium

ppm

Lead

ppm

Silicon

ppm

Zinc

ppm

3

Note 1: Based on review of industrially available products and battery producers' requirements

Path Forward

With the completion of the hydrometallurgical testwork reported herein, the Company has completed all testing associated with the CMRDD funding provided by NRCan.  Refinery testing results are being incorporated into the ongoing Awaruite Refinery Scoping Study, the results of which will be available in the first quarter of 2025.

Qualified Person

The metallurgical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101: Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators (" NI 43-101 "). Testwork was supervised, reviewed, and verified by Kyle D. Marte , P.Eng., FPX Nickel's Principal Metallurgist and a "Qualified Person" as defined by NI 43-101.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  The Baptiste mineral claims cover an area of 408 km 2 , west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

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 https://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 Nickel Announces Management Appointments to Support the Advancement of the Baptiste Nickel Project

FPX Nickel Announces Management Appointments to Support the Advancement of the Baptiste Nickel Project

 FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointments of Nigel Fisher as Director, Environment and Jarett Lalonde as Director, Government & Public Affairs for the Company.  Mr. Fisher will lead the advancement of environmental and regulatory programs for FPX projects, while Mr. Lalonde will lead the Company's public communications and government relations strategies.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

"We are excited to grow our team with Nigel and Jarett," commented Tim Bekhuys , FPX's Senior Vice-President, Sustainability & External Relations.  "Mr. Lalonde has a proven track record as a trusted government relations advisor to corporations, governments and nonprofits, and brings a wealth of knowledge and strategic insight to our team.  Mr. Fisher has been instrumental in permitting and advancing many of British Columbia's largest mines, including most recently, the Blackwater and Eskay Creek mines, and will lead our Environmental Permitting and Assessment for the Baptiste Project."

Mr. Fisher brings 20 years' experience leading environmental assessments, permitting and management systems, developing and executing on regulatory strategy and advancing governance and funding agreements with Indigenous governments across British Columbia .  Mr. Fisher has held progressively senior roles with New Gold, Teck Resources, Woodfibre LNG, and most recently, Skeena Resources as Director of Environment and Regulatory Affairs.  In his prior roles, he successfully obtained multiple regulatory approvals for large-scale resource projects while maintaining compliance with existing and changing legislation.

Mr. Lalonde is a highly regarded public affairs leader with over 20 years' experience in the natural resources, technology, and regulated products sectors.  In his most recent role as Global Head of Product Policy at Shopify, Mr. Lalonde was instrumental in crafting compelling public affairs narratives for the company's diverse product offerings and spearheading engagement with policy makers across North America and Europe.  Before joining Shopify, he worked with Global Public Affairs, a leading government relations and strategic communications firm, where he performed advisory work for numerous companies advancing large-scale natural resource projects in British Columbia and across Canada.  Mr Lalonde previously served as Chief of Staff to the Attorney General & Minister of Justice for the province of British Columbia , and as Policy Advisor to the Minister of Natural Resources Canada.

Stock Option Grant

FPX has granted 775,000 stock options to certain employees of the Company.  The stock options are exercisable at a price of $0.35 per share for a five-year period commencing on September 23, 2024 .

Market Making Services

Further to its news release on August 1, 2024 , the Company has engaged the services of Insight Capital Partners Inc. (" Insight ") and its market making service provider, ICP Securities Inc. (" ICP ") (the " Engagements ") effective August 1, 2024 .

Pursuant to an agreement (the " Consulting Agreement ") between the Company and Insight, Insight will provide capital markets consulting services, including providing the Company with advice and information regarding trading activity, for a term of twenty-four (24) months, provided that after a period of four (4) months either party may terminate the Consulting Agreement on thirty (30) days notice.

In addition, pursuant to an agreement (the " Market Making Agreement ") between the Company and ICP, the Company has engaged ICP to provide market making services. As previously announced, ICP will provide automated market making services, including use of its proprietary algorithm, ICP Premium TM , in compliance with the policies and guidelines of the TSX Venture Exchange and applicable securities laws. The Market Making Agreement is for an initial term of four (4) months (the " Initial Term ") and shall be automatically renewed for subsequent one (1) month terms (each subsequent one-month term called an " Additional Term ") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable.

As previously disclosed, there are no performance factors contained in the Consulting Agreement and no stock options or other compensation are being granted in connection with the Engagements. Both Insight and ICP are at arm's length to the Company. Insight and ICP do not have any interest, directly or indirectly, in FPX Nickel or its securities or any right or intent to acquire such an interest at this time; however, Insight, ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  The Baptiste mineral claims cover an area of 408 km 2 , west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

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 distinctive style of nickel-iron mineralization. For more information, please view the Company's website at www.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 materially ‎from those currently projected by management at the time of writing due to many factors the majority ‎of which are beyond the control of FPX and its management. In particular, this news release contains ‎forward-looking statements pertaining, directly or indirectly, to the following: the duration of the ‎Consulting Agreement and the Market Making Agreement, and the services provided thereunder. These statements speak only ‎as of the date of this release or as of the date specified in the documents accompanying this release, as ‎the case may be. The Company does not assumes the obligation to update any forward-looking ‎statement except as expressly required by applicable securities law.‎

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 Nickel Commences Scoping Study to Develop North America's Largest Nickel Sulphate Refinery for the EV Battery Market

FPX Nickel Commences Scoping Study to Develop North America's Largest Nickel Sulphate Refinery for the EV Battery Market

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to provide an update on value engineering (" Value Engineering ") studies that have substantially improved the operating margin and reduced the risk profile for an awaruite concentrate refinery to produce battery-grade nickel sulphate. Building on this improved business case and incorporating results from the ongoing pilot-scale hydrometallurgical testwork program, FPX has commenced the development of a standalone refinery study which will be completed in the first quarter of 2025.

Highlights

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FPX Nickel Announces Support from the Province of British Columbia for the Advancement of the Baptiste Nickel Project

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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce that the Province of British Columbia has identified the Baptiste Nickel Project (" Baptiste " or the " Project ") as a project to be included in the Province's newly-established Critical Minerals Office (" CMO ") concierge service initiative, a foundational strategy action to enable the prioritization of critical minerals projects in B.C. The CMO will be a key entry point into the natural resource sector agencies and provide centralized support for the advancement of critical minerals projects like Baptiste, and to leverage potential project funding opportunities from provincial and federal sources.

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FPX Nickel Engages ICP Securities for Automated Market Making Services

FPX Nickel Engages ICP Securities for Automated Market Making Services

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce that it has engaged the services of ICP Securities Inc. (" ICP ") to provide market making services (the "Services"), including use of its proprietary algorithm, ICP Premium TM in compliance with the policies and guidelines of the TSX Venture Exchange (the " Exchange ") and other applicable legislation.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Pursuant to the market-making agreement (the " Agreement ") entered into between the Company and ICP, in exchange for providing the Services, ICP will receive a fee of C$7,500 plus applicable taxes per month, payable monthly in advance, to be paid from funds the Company has allocated from its current working capital. The Agreement is for an initial term of four (4) months (the " Initial Term ") and shall be automatically renewed for subsequent one (1) month terms (each subsequent one-month term called an " Additional Term ") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. ICP does not have any interest, directly or indirectly, in FPX Nickel or its securities or any right or intent to acquire such an interest at this time; however, ICP and its clients may acquire an interest in the securities of the Company in the future. There are no performance factors contained in the agreement and no stock options or other compensation are being granted in connection with the engagement.

ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

ICP Securities Inc.

ICP Securities Inc. (ICP) is a Toronto -based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium TM , that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km 2 , west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional territories of the Tl'azt'en Nation and the Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

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 distinctive style of awaruite nickel-iron mineralization.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600

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 materially from those currently projected by management at the time of writing due to many factors the majority of which are beyond the control of FPX and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: the duration of the Services and the frequency of any trades in connection with the Services. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company assumes the obligation to update any forward-looking statement except as expressly required by applicable securities law.

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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Operations Superintendent, Acting MEM, Safety and Compliance Advisor Aurelia, Peak Gold Mines Working with the MEM through managing site contractor to achieve safe production.

Mine manager Glencore, CSA Mine

MEM Statutory responsibility for 1.8km deep, 1.2Mt Underground Copper mine with 400 underground employees. Acting General Manager during this period when required. Achieved record Cu production in '16 and '17 and achieved record reduction in TRIFR on site.

Examiner for NSW Resource for Regulator - Mining Engineering Manager (2020 to present) and NSW Underground Supervisor (2018 to present)

Mr Hamilton holds a Bachelor of Engineering (Mining Engineering) with Honors, University of South Australia, and has additional qualifications including First Class Mine Manager (NSW) Metalliferous - Unrestricted

Commenting on the appointment, Vertex Executive Chairman Roger Jackson said:

"We're pleased to welcome Chris to the Vertex team, his extensive underground hard rock mining, operations and leadership experience can only bode well for the success of the High Grade Reward Gold Mine. "

*To view mineral resources figures, please visit:
https://abnnewswire.net/lnk/936Y4I2U



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

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