Base Metals

FPX Nickel Corp. is pleased to announce the final drill results confirming the continued near-surface lateral extension of the significant new nickel discovery at the Van Target in the Company's Decar Nickel District in central British Columbia.  The results from holes 21VAN-005, 21VAN-006 and 21VAN-007 complement the first four discovery holes previously reported by the Company, with the first seven Van holes now ...

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the final drill results confirming the continued near-surface lateral extension of the significant new nickel discovery at the Van Target (" Van ") in the Company's Decar Nickel District (" Decar " or the " District ") in central British Columbia.  The results from holes 21VAN-005, 21VAN-006 and 21VAN-007 complement the first four discovery holes previously reported by the Company, with the first seven Van holes now defining a zone of strong awaruite nickel mineralization approximately 400 to 750 metres wide and up to 750 metres long, to downhole depths of up to 350 metres.

Highlights

  • The mineralized footprint defined by the Company's 2021 Van program remains wide open for expansion to the south and west, and potentially at depth within and beyond the initial 2.5 km 2 target area, confirming the potential for this target to host a large-scale, standalone nickel deposit which could rival the deposit already delineated at the Baptiste Deposit
  • Final set of Van holes (including 21VAN-005, 21VAN-006 and 21VAN-007) extend mineralization by approximately 350 m west from the first two holes (21VAN-001 and 21VAN-002), with the first seven holes returning strong nickel mineralization over broad intervals
  • Hole 21VAN-005 intersected 132 m grading 0.140% DTR nickel (0.210% total nickel), starting from bedrock at 9 m downhole, which is one of the 10 highest-grading, near-surface intervals encountered at Decar (see Table 1 regarding vertical depth)
  • The highest values in all holes start from the bedrock surface, with the three southernmost holes, returning long intervals of strong nickel mineralization as follows:
  • 21VAN-002: 260 m 0.134% DTR Ni from below a fault zone to the end of hole;
  • 21VAN-003: 143 m of 0.143% DTR Ni from bedrock surface; and
  • 21VAN-005: 342 m of 0.128% DTR Ni from bedrock surface to the end of hole
  • Nickel mineralization at Van occurs as disseminated awaruite (nickel-iron alloy) and in the same ophiolite host rocks as at Baptiste
  • The results of the first-ever Van drilling program compare favourably with early drilling results at Baptiste, which contains 1.996 billion tonnes of indicated resources at an average grade of 0.122% DTR nickel , and 593 million tonnes of inferred resources with an average grade of 0.114% DTR nickel , both reported at a cut-off grade of 0.06% DTR nickel.  Mineral resources are not mineral reserves and do not have demonstrated economic viability.  See the resource estimate set out in FPX's NI 43-101 Technical Report – "Preliminary Economic Assessment – Baptiste Nickel Project, British Columbia, Canada ," with an effective date of September 9, 2020 , filed under the Company's SEDAR profile on March 17, 2021

"We are very pleased with this final batch of drill results from the maiden drilling program at Van, with the first seven holes all returning broad intervals of strong awaruite nickel mineralization," commented Martin Turenne , the Company's President and CEO. "The three southernmost of the Van holes (21VAN-002, 21VAN-003 and 21VAN-005) returned among the 10 highest-grading, near-surface intervals in the history of Decar, suggesting that Van has strong potential to host a higher-grade, near-surface resource than that found at Baptiste, where the majority of higher-grade mineralization occurs at depth."

FPX's Chairman Peter Bradshaw added: "The results of the first seven holes at Van, drilled in the central and eastern portion of the large 2.5 km 2 target area, have exceeded our expectations and confirmed Van as a major new discovery for the nickel industry.  Having confirmed that the strong mineralization in previously reported outcrop samples continues to depth, we now look forward to additional drilling in 2022 to expand the mineralization to the south and the west of the 2021 holes, with a view of generating an initial mineral resource estimate for the deposit."

Link to view drill results within interactive 3D VRIFY model (for best results, view in full screen): https://vrify.com/decks/FPX-Nickel-Van

Van Target Drilling Overview

Starting in June, the Company executed a maiden nine-hole, 2,688 m drill program at the Van Target, which is located 6 km north of Baptiste at a similar elevation, and accessible via active logging roads (see Figure 1).  Maiden drilling at Van tested the sub-surface potential for mineralization below and adjacent to prospective mineralized outcrop, which had defined a target area of approximately 2.5 km 2 .  The size of the Van Target as defined by this outcrop sampling is comparable to the Baptiste deposit, which measures 3 km along strike with widths of up to 1 km.  All nine holes at Van were drilled to the north-northeast at an inclination of minus 50 degrees to a target depth of 350 m .

The results from holes 21VAN-005, 21VAN-006 and 21VAN-007 complement the first four discovery holes previously reported by the Company, with the first seven Van holes now defining a zone of strong awaruite nickel mineralization measuring approximately 400 to 750 metres wide by up to 750 metres long, to downhole depths of 350 metres in the southernmost holes.  The approximately mineralized footprint defined by this program remains wide open for expansion to the south, to the west, and at depth to the south, confirming the potential for this target to host a large-scale, standalone nickel deposit to rival the deposit already delineated at Baptiste, but with the possibility of higher grades in early years of a mine plan.

Table 1 – Van Target Drill Hole Results

Hole

Intersections 1

DTR Nickel (%) 2

Total Nickel (%) 2

From

To

Intersected
Width

21VAN-005

9

351

342

0.128

0.210

including

9

141

132

0.140

0.210

and

141

351

210

0.121

0.210


21VAN-006

0

351

351

0.088

0.220

including

0

107

107

0.123

0.204

and

107

216

109

0.110

0.221

and

216

351

135

0.044

0.233


21VAN-007

1

351

350

0.066

0.218

including

1

112.23

111.23

0.110

0.227

and

112.23

189.6

77.37

0.060

0.218

and

189.6

351

161.4

0.040

0.212

1 The vertical depth (true width) of all quoted intersections in this news release is interpreted to be approximately 75% of downhole depth.

2 Core samples are assayed for "total nickel" and "Davis Tube Recoverable (" DTR ") nickel."  "DTR nickel" analyses measure only the magnetically recoverable nickel hosted in awaruite (nickel-iron alloy), whereas the "total nickel" analyses measure both recoverable and refractory nickel, the latter hosted in silicate phases like olivine and, to a lesser extent, serpentine. The Davis Tube method is in effect a mini-scale metallurgical test procedure used to provide a more accurate measure of recoverable nickel and is the global industry-standard geometallurgical test for magnetic recovery operations and exploration projects.  See "Sampling and Analytical Method", below.

Nickel mineralization intersected within 21VAN-005, 21VAN-006 and 21VAN-007 is characterized by disseminated, coarse-grained awaruite (nickel-iron alloy) mineralization hosted in serpentinized peridotite and is very analogous to the mineralization and geological setting at the Baptiste Deposit.

21VAN-005 was collared 400 m west of 21VAN-002 and was drilled to the north-northeast at an angle of minus 50 degrees.  The hole encountered bedrock at 9 m downhole (approximately 7 m vertical depth) and thereafter intersected 342 m of strong awaruite mineralization to the end of the hole.  The strongest mineralization was encountered near the top of hole, including a 141 m interval of 0.140% DTR nickel starting from bedrock at a downhole depth of 9 m .  Nickel mineralization in this hole remains open at depth and to the south.

21VAN-006 was collared 300 m north-northeast along section from 21VAN-005 and was also drilled to the north-northeast at minus 50 degrees.  The hole was collared into bedrock and intersected 351 m of awaruite mineralization, grading 0.088% DTR nickel to the end of the hole.  The strongest mineralization at 21VAN-006 was encountered near the top of hole, including a 107 m interval of 0.123% DTR nickel starting from surface.  This hole ended in weakly-mineralized semi-massive peridotite.

21VAN-007 was collared 280 m northwest from 21VAN-001 and was drilled to the north-northeast at an angle of minus 50 degrees.  The hole encountered bedrock at 1 m downhole and then intersected 350 m of awaruite mineralization, to a downhole depth of 351 m .  The strongest mineralization at 21VAN-005 was encountered near the top of hole, including a 111.23 m interval of 0.110% DTR nickel starting from bedrock surface at downhole depth of 1 m .  This hole ended in weakly-mineralized semi-massive peridotite.

21VAN-008 and 21VAN-009 were collared on a section 350 m east-southeast of 21VAN-003 to test the potential for nickel mineralization several hundred meters to the south and to the east of previously reported outcrop samples. 21VAN-008 encountered bedrock at 8.84 m downhole and thereafter encountered dyking and intercelated iron carbonate altered peridotite to a downhole depth of 28.25 m where the hole was abandoned due to drilling complications.

21VAN-009 was collared 350 m south-southwest along section from 21VAN-008 and was drilled to the north-northeast at an angle of minus 50 degrees.  The hole encountered bedrock at 6 m downhole consisting of dyking, intercalated iron carbonate altered peridotite and metasediments to a downhole depth of 189 m , at which point drilling was terminated due to unfavourable geology.

Collar locations for the nine holes drilled at the Van Target are provided in Figure 2.  Holes were spaced on section lines approximately 350 m apart and tested the Van Target over an area of approximately 0.6 km 2 to a maximum downhole depth of 350 m .  Assay results from holes 21VAN-001 and 21VAN-002 were reported in the Company's October 19, 2021 news release, and from holes 21VAN-003 and 21VAN-004 in the Company's November 15, 2021 news release.

Regional Exploration Program

As disclosed in its May 26, 2021 news release, the Company conducted a regional exploration program over the summer months on five prospective under- and un-explored areas within the 245 square kilometre Decar ophiolite complex.  These new areas were identified on the basis of magnetic response from a previous airborne survey, very limited previous sampling, and/or improved access resulting from more recent clear-cut logging activity, providing possibility of exposure of new outcrops which are by far the best method of indicating new targets

The regional exploration program was constrained however by the general lack of outcrop, even in logged areas, due to a blanket of glacial till covered by thick vegetation and deadfall.  In two of those areas (located to the northwest and to the east of the Van Target), no outcrop was identified, and in a third area (located to the southeast of Van), outcrop samples of listwanite and iron-carbonate altered peridotite suggest very limited potential for significant nickel mineralization.

The remaining two prospective areas (located to the north and to the northeast of Baptiste) contained some limited samples of prospective outcrop comprising massive to semi-massive peridotite and cataclastic peridotite which returned nickel grades ranging from 0.060 to 0.075% DTR nickel.  While further exploration work is warranted in these two areas, the Company expects to focus its 2022 exploration efforts on further drilling and surface sampling work at the Van Target. Efficient and low-impact methods of collecting the first 20 to 40 cm of bedrock under overburden are being investigated, particularly for extensions of the Van target where it goes undercover.

Sampling and Analytical Method
For a description of the Company's sampling and analytical method, including a description of QA/QC procedures, see the news release dated October 19, 2021 .

Dr. Peter Bradshaw , P. Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

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 in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four.  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 was initially the most accessible and had the biggest known surface footprint, has been the focus of diamond drilling since 2010, with a total of 82 holes and over 31,000 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.  The Van target was not drill-tested at that time as bedrock exposures in the area were very poor prior to more recent logging activity.  In 2021, the Company executed a maiden drilling program at Van, initial results of which are reported here and in the Company's October 19, 2021 news release, which has returned promising results comparable with the strongest results at Baptiste.

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.

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.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/06/c4165.html

News Provided by Canada Newswire via QuoteMedia

FPX:CA
FPX Nickel

FPX Nickel

Overview

Nickel plays a vital role in electric vehicle (EV) and battery manufacturing, a sector that sees rapid expansion year after year. Market research projects a growing nickel demand to reach upwards of 1.3 million metric tonnes per annum by 2030 as nickel content in electric vehicles increases to over 40 kilograms per car battery.

Despite its significant role in powering a global shift to greener energies, analysts also project an undersupply of nickel for the next several years due to decreasing production and a lack of new active mines. Mining companies operating high-grade nickel projects offer investors exposure to a market that has great economic growth and success potential.

One such company is FPX Nickel (TSXV: FPX) (OTXQB: FPOCF), focused on exploring and developing its wholly-owned advanced development-stage Tier 1 Baptiste project in the Decar Nickel District in central British Columbia. The company’s project developments demonstrate the Decar Nickel District’s potential to supply high-concentration nickel and cobalt sulfates suitable for the growing electric vehicle battery industry as well as more traditional markets for nickel such as stainless steel.

FPX Nickel Decar Nickel District

The Decar Nickel District hosts the Baptiste project, which leverages an existing 2020 Preliminary Economic Assessment (PEA) and mineral resource estimate. Together, these NI 43-101 compliant reports show the Baptiste project has the potential to become one of the world’s largest-scale, lowest-cost nickel producers. The positive geological interpretation of the Van target at Decar offers further blue sky potential for the Decar property.

FPX Nickel Decar Nickel District

The Decar Nickel District project has the potential to mimic the successes of its geographic neighbors such as New Gold’s (TSX:NGD, NYSEMKT:NGD) CAD$1.8 billion Blackwater Gold open-pit project, which recently received federal and provincial environmental assessment certificates, a key milestone on the path to becoming a fully-permitted mine.

FPX Nickel released an updated PEA for the Baptiste project in 2020. According to the report, at the PEA base case of US$7.75 /lb nickel, the Baptiste Project is expected to generate an after-tax net present value of US$1.7 billion and an after-tax internal rate of return of 18.3 percent.

Additionally, the company closed $16.1 million in a bought deal public offering in April 2021. FPX Nickel intends to put net proceeds of the financing towards the exploration and development of the Baptiste nickel project.

The Baptiste project presents FPX Nickel with the potential to produce refined nickel with a significantly lower carbon footprint than other sources of production in the global nickel industry. Recent leach testing of awaruite nickel concentrates produced from Baptiste achieved nickel recoveries of 98.8 percent to 99.5 percent in producing a high-purity chemical solution containing 69.4 to 70.1 g/L nickel.

One of FPX Nickel’s long-term goals for the Baptiste project is to build a carbon-neutral mining operation. In keeping with that goal, FPX Nickel and mining companies such as Anglo American majority-owned (LSE:AAL,OTCQX:AAUKF) DeBeers and Canada’s Government has co-founded a multi-university led research program aimed at studying carbon capture and storage at mining sites.

FPX Nickel Decar Nickel District

FPX Nickel’s management team consists of highly experienced capital markets and mining professionals, including chairman of the Board, Dr. Peter Bradshaw and director Rob Pease. With nearly five decades of mineral exploration experience across 30 countries, Dr. Bradshaw has made numerous key discoveries earning him the honorable distinction of being a Member of the Canadian Mining Hall of Fame.

Additionally, geologist Rob Pease has more than 30 years of experience in exploration, mine development and construction, including as the former CEO of Terrane Metals during the development of the Mt. Milligan copper-gold mine was later acquired by Thompson Creek for C$650 million. Pease also served as the former director of Richfield Ventures, which was acquired along with the Blackwater Gold project by New Gold for CAD$500 million.

FPX Nickel’s Company Highlights

  • FPX Nickel is a Canadian resource company focused on exploring and developing its wholly-owned advanced development-stage Baptiste nickel project in the Decar Nickel District, central British Columbia.
  • The company favorably leverages a low-cost operation and mining best practices. It operates one of the few major nickel deposits in the mining-friendly jurisdiction of British Columbia.
  • The Baptiste property hosts high-grade nickel mineralization with low impurities and little to no sulfides. This production-quality asset has potential applications for direct feed to stainless steel or the electric vehicle battery market, with recoveries coming in at 98.8 percent to 99.5 percent.
  • FPX Nickel operates a tight share structure consisting largely of management and other strategic high net-worth and institutional shareholders at approximately 18.5 percent and 35 percent holding, respectively.
  • Baptiste’s amended PEA highlights the project’s potential to be among the world’s lowest-cost nickel mines in operating costs and capital intensity.

FPX Nickel’s Key Projects

FPX Nickel Decar Nickel District

Decar Nickel District – Baptiste Project

The Decar Nickel District covers 245 square kilometers and 80 kilometers west of the Mt. Milligan mine, central British Columbia. The property hosts the highly prospective Baptiste nickel project, which has the potential to become the world’s best development-stage nickel project. The asset is accessible via logging and paved road, with railway and hydropower nearby.

In February 2021, the company released results from initial field tests, demonstrating the potential for significant direct air carbon capture in the tailings on the property. “These exciting results mark an important step in our objective to develop Baptiste as the world’s first large-scale, carbon-neutral nickel operation,” commented FPX Nickel president and CEO Martin Turenne.

FPX Nickel Decar Nickel District

Baptiste hosts nickel-iron alloy mineralization, bulk-tonnage potential and open-pit nickel mining possibilities across its four primary targets. Exploration has also indicated resources at an average grade of 0.123 percent DTR nickel for 2.3 million tonnes and 391 million tonnes of inferred resources with an average grade of 0.115 percent DTR nickel. Its main Van target is drill-ready with advantageously mild-pressure leaching conditions.

Since 2010, FPX Nickel has spent approximately CAD$25 million in the exploration and development of Decar. The company put this funding towards surface sampling, PEA reporting, processing plant construction and diamond drilling campaigns.

FPX Nickel’s Management Team

Martin Turenne, CA - President, CEO & Director

Martin Turenne is a senior executive with over 15 years of experience in the commodities industry, including over five years in the mining industry. He has extensive leadership experience in strategic management, fundraising, economic analysis, financial reporting, regulatory compliance and corporate tax. Turenne formerly served as CFO of First Point Minerals Corp. from 2012 to 2015 and in positions at KPMG LLP and Methanex Corporation. He is a member of the Canadian Institute of Chartered Accountants.

Erin Wilson P. Geo - Principal Geologist

Ms. Wilson has over 18 years' experience in exploration, resource and mine geology. In her previous role as the Chief Mine Geologist for Pure Gold Mining, she had oversight and responsibility for mine site geological and block models, working with senior management in developing geological work programs and managing a strong safety culture in compliance with company policies and occupational health and safety regulations. Prior to joining Pure Gold Mining, Ms. Wilson worked in a number of roles for Goldcorp and Newmont at the Red Lake Gold Mines for nine years. As the lead Exploration Geologist and Production Geologist at the Couchenour Project, she developed and managed multi-million dollar work programs, supervising geological site personnel and integrating drill results for the growth of mineral reserves and resources at the project.

Trevor Rabb, P.Geo. - Consulting Geologist

Trevor Rabb is a professional geologist with over ten years of experience in mineral exploration, including over five years specializing in nickel-iron alloy deposits. Rabb formerly served as First Point’s senior geologist and VP of Exploration from 2010 to 2016. He was a crucial player in exploration discoveries for First Point’s Decar, Mich, Wale and Klow properties.

Christopher Mitchell, P.Eng., MBA - CFO & Corporate Secretary

Christopher Mitchell is a business consultant with more than 40 years of experience in the mineral industry. He served as senior VP of Viceroy Resource Corp., executive VP and CFO of Orvana Minerals Corp. Mitchell holds MBA and M.Sc. degrees, University of British Columbia and is a member of the Association of Professional Engineers of British Columbia. He is also a director of Endurance Gold Corp.

Dr. Peter M. D. Bradshaw, P.Eng. - Chairman

Dr. Peter Bradshaw is a geologist with 45 years of international mineral exploration experience in over 30 countries with Barringer Research, Placer Dome and Orvana Minerals. He is a member of the Canadian Mining Hall of Fame. Dr. Bradshaw’s key discoveries and projects he was directly involved with include: Porgera Gold Mine, Papua New Guinea; Kidston Gold Mine, Queensland, Australia; Misima Gold Mine, Papua New Guinea; Big Bell Gold Mine, Western Australia; Omai Gold Mine, Guyana; Decar Nickel Project, British Columbia, Canada; director of Aquila Resources; co-founder and first chairman of the Mineral Deposit Research Unit, University of British Columbia.

Rob Pease, P. Geo. - Director

Rob Pease is a geologist with over 30 years of experience in exploration, mine development and construction. He served as the former CEO of Terrane Metals, acquired by Thompson Creek for CAD$650 million. Pease also served as the former director of Richfield Ventures, acquired by New Gold for CAD$500 million. He is a Director of Pure Gold Mining Inc. and Liberty Gold Corp.

William H. Myckatyn - Director

William Myckatyn is a mining engineer with over 34 years of experience in the mining industry. Myckatyn is the founder and CEO of Quadra Mining Ltd. He served as chairman and subsequently co-chairman of Quadra FNX Mining until its takeover in 2012. Prior, Myckatyn was chairman, president and CEO of Dayton Mining Corp., where he led the restructuring and merger with Pacific Rim Mining Corp. He also served as the former president and CEO of Princeton Mining and Gibraltar Mines Ltd. For over 17 years, he worked for various operations controlled by Placer Dome Inc. and its associated predecessor companies, including four separate mines in Australia and the Philippines. He is a director of San Marco Resources and OceanaGold.

Peter Marshall, P. Eng. - Director

Peter Marshall is a mining engineer with 30 years of experience in mine development and construction. Marshall was formerly VP of Project Development at New Gold and SVP Project Development at Terrane Metals. He has extensive mine development experience in central British Columbia, including completing the Blackwater gold project feasibility study and development and early construction of Mt. Milligan copper-gold mine, acquired by Thompson Creek for CAD$650 million in 2010.

James S. Gilbert, MBA - Director

James Gilbert has more than 30 years of investment and transaction execution experience, with more than 20 years focused on the international mining and metals industry. Gilbert held senior management positions with Rothschild, Gerald Metals Inc. and Minera S.A., a private mining investment company. His experience covers mergers and acquisitions, debt and equity financing, off-take and specialty refining agreements, joint venture negotiations and strategic marketing. He was formerly director of AQM Copper Inc., acquired by Teck Resources in 2016.

Dr. John A. McDonald, P.Geo. - Director

Dr. John McDonald is a geologist with more than 40 years of international experience as both a professor and mineral explorer. He served as VP of Exploration for both Diamondex and Winspear Diamonds Inc. He and his technical team were directly responsible for discovering and developing the Snap Lake diamond deposit. De Beers acquired Winspear’s majority ownership in the Snap Lake deposit for US$305 million in 2000. In 2000, McDonald received the HH “Spud” Huestis Award for excellence in prospecting and mineral exploration from the B.C. and Yukon Chamber of Mines. In January 2008, he received the Hugo Dummett Diamond Award for Excellence in Diamond Exploration and Development. He is a director of Canterra Minerals Corp., Hudson Resources Inc.and Independence Gold Corp.

Keep reading... Show less

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 ).

Keep reading... Show less

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

Keep reading... Show less

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.”

Keep reading... Show less
TSXV:FPX

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.

Keep reading... Show less
TSXV:FPX

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.

Keep reading... Show less
Battery Mineral Resources Announces Intercept of 102 Meters Grading 1.41% Copper, at Dalmacia Target at Its Punitaqui Mine

Battery Mineral Resources Announces Intercept of 102 Meters Grading 1.41% Copper, at Dalmacia Target at Its Punitaqui Mine

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is extremely pleased to announce encouraging drill core assay results from the on-going 2021 exploration and in-fill drill program focused on extensions of the Cinabrio orebody, the Dalmacia and San Andres targets within the Punitaqui mine complex ("Punitaqui") in Chile. Punitaqui is slated for resumption of copper concentrate production in mid to late-2022.

Dalmacia is in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui copper processing plant. The Dalmacia target has underground mining access, partially delineated mineralized zones and is targeted as a potential new source of ore feed to the Punitaqui ore concentration plant (see Figure 1).

Keep reading... Show less
FPX Nickel to Present at TD Securities Global Mining Conference

FPX Nickel to Present at TD Securities Global Mining Conference

FPX Nickel Corp. (TSXV: FPX), (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that the Company will be presenting at this year's TD Securities Global Mining Conference (the " TD Conference ") on Friday, January 28, 2022 at 1:50 pm Eastern Time . FPX is one of only two companies invited to present during the TD Conference's session on nickel.

Keep reading... Show less
Battery Mineral Resources Closes First Tranche of Unsecured Convertible Debenture Financing

Battery Mineral Resources Closes First Tranche of Unsecured Convertible Debenture Financing

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce that it has closed the first tranche of the non-brokered private placement of 8% unsecured convertible debentures (the "Debentures") previously announced in the Company's news release of January 14, 2022. Gross proceeds for the first tranche total C$3,250,000.

The proceeds from the Debentures will be used to fund an extension of the successful 2021 exploration drilling program at the Company's recently acquired Punitaqui copper project in Chile and for general working capital purposes.

Keep reading... Show less
Canada Silver Cobalt Intersects High-Grade Silver Up to 6,188.43 g/t Ag with a Gold Equivalent of 74.67 g/t Au at Castle East

Canada Silver Cobalt Intersects High-Grade Silver Up to 6,188.43 g/t Ag with a Gold Equivalent of 74.67 g/t Au at Castle East

Excellent intercepts from the Big Silver Zone will contribute significantly to the upcoming resource update

Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce a continued expansion of its silver deposit at Castle East with excellent intercepts from the Big Silver Zone containing high-grade silver and cobalt grades. The drill results will be included in the planned resource update expected by the end of Q1 2022.

Keep reading... Show less
Canada Silver Cobalt Intersects High-Grade Silver up to 6,188.43 g/t Ag with a Gold Equivalent of 74.67 g/t Au at Castle East

Canada Silver Cobalt Intersects High-Grade Silver up to 6,188.43 g/t Ag with a Gold Equivalent of 74.67 g/t Au at Castle East

(TheNewswire)

Canada Silver Cobalt Works Inc.

Excellent intercepts from the Big Silver Zone will contribute significantly to the upcoming resource update.

Keep reading... Show less
Fortune Minerals Secures Option to Purchase Brownfield Site in Alberta's Industrial Heartland for NICO Refinery

Fortune Minerals Secures Option to Purchase Brownfield Site in Alberta's Industrial Heartland for NICO Refinery

Former steel fabrication plant with buildings and facilities to materially reduce capital costs

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has entered into an option agreement with JFSL Field Services ULC (" JFSL "), a wholly-owned subsidiary of a large international engineering company, to purchase its former steel fabrication plant, located in Lamont County within Alberta's Industrial Heartland northeast of Edmonton. Pursuant to the agreement, Fortune will have six months to carry out additional due-diligence and complete the purchase of the JFSL facility for C$5.5 million. Fortune intends to acquire this brownfield site in order to construct the hydrometallurgical refinery for the planned NICO Cobalt-Gold-Bismuth-Copper mine in the Northwest Territories (" NWT "). The proposed refinery would process concentrates from the mine and produce cobalt sulphate for the rapidly expanding lithium-ion rechargeable battery industry and their use in electric vehicles (" EV's "), portable electronic devices, and stationary storage cells to make electricity use more efficient. In addition to cobalt, the unique mineral assemblage of the NICO deposit includes a highly liquid 1.1 million ounce in-situ gold co-product, 12% of global bismuth reserves, and copper. The vertically integrated NICO development (" NICO Project ") would provide a reliable North American source of three Critical Minerals produced responsibly with Canadian environmental-social governance (" ESG ") values that are essential to support the transformation to new technologies and the growing green economy.

Keep reading... Show less

Latest Press Releases

Related News

×