FPX Nickel Reports on Large-Scale Pilot Testwork, With Results Validating Baptiste Flowsheet and Overall Recovery Basis

FPX Nickel Reports on Large-Scale Pilot Testwork, With Results Validating Baptiste Flowsheet and Overall Recovery Basis

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to present results from recently completed large-scale pilot testwork, with results validating both the flowsheet and the 85% Davis Tube Recoverable (" DTR ") nickel recovery assumed in the 2020 Preliminary Economic Assessment (" 2020 PEA ") for the Baptiste Nickel Project (" Baptiste " or the " Project ") at the Decar Nickel District in central British Columbia.  The Company's current large-scale, three-phase metallurgical testwork program, which has been ongoing since mid-2021, will conclude in the second quarter of 2023 and the resulting dataset will support the completion of the Baptiste Preliminary Feasibility Study (" PFS ").

Highlights
  • Large-scale pilot testwork is now complete and sufficient high-grade (> 65% nickel) awaruite concentrate was produced for downstream hydrometallurgical testing for the production of battery-grade nickel sulphate
  • Large-scale pilot testwork validates the processing strategy for Baptiste, leveraging awaruite's ferromagnetism, high density, active surface properties, and very high nickel content into a simple flowsheet utilizing magnetic separation followed by conventional froth flotation
  • Consistent with the PEA, the PFS metallurgical testwork program confirms a minimum 85% DTR nickel recovery basis for the Baptiste PFS, including:
    • Pilot-scale magnetic separation and bench-scale flotation testwork confirm an overall minimum DTR nickel recovery of 82% to a high-grade awaruite concentrate
    • Bench-scale testwork confirms the potential to improve DTR nickel recovery by an additional 3-5% through atmospheric leaching of flotation tailings followed by hydroxide precipitation

"Our current three-phase metallurgical testwork program confirms earlier results that demonstrate the technical feasibility of the Baptiste Nickel Project," commented Andrew Osterloh , FPX Nickel's Vice-President, Projects.  "Large-scale pilot testwork is an effective tool for the Company to validate our straightforward processing strategy, which is based on awaruite's unique characteristics, leading to a simple concentrator flowsheet with a robust recovery basis.  As we continue to demonstrate Baptiste's ability to produce very high-grade nickel concentrates, we further confirm that Baptiste's concentrate does not require intermediate smelting before use in either the stainless steel or electric vehicle battery supply chains, which is an important value differentiator for the Project."

Summary

The Baptiste processing strategy leverages awaruite's distinct properties in a simple, yet robust flowsheet.  The front end of the flowsheet utilizes magnetic separation to create a "magnetics rich" concentrate of awaruite and magnetite – a process made effective due to awaruite's ferromagnetism and density.  The back end of the flowsheet then utilizes conventional froth flotation to separate awaruite from magnetite – a process made effective due to awaruite's active surface properties and magnetite's general lack of flotability.  Finally, based on awaruite's very high nickel content, a very high-grade nickel concentrate (50-65% nickel) can be produced.  Figure 1 presents the Baptiste flowsheet and Table 2 in the following section presents further details on Baptiste's processing strategy.  As noted in Figure 1, a new processing opportunity treating flotation tailings has been identified, and the results are discussed herein.

Figure 1 – PEA Flowsheet and New Process Opportunity (CNW Group/FPX Nickel Corp.)

The Company's three-phase metallurgical testwork program, which has been ongoing since mid-2021, is approximately 85% complete and will conclude in the second quarter of 2023.  The program includes both bench- and pilot-scale testwork and evaluates the comminution, magnetic separation, flotation, and hydrometallurgical unit operations.  The overall program will test approximately 25 tonnes of material, including a life-of-mine master composite, mine phase composites, and a bulk sample from the starter pit area.  Key results from the PFS metallurgical testwork program are presented in Table 1.

Table 1 – Key PFS Metallurgical Testwork Program Results – DTR Ni Recovery

DTR Nickel Recovery

PEA Criteria

Preliminary PFS Criteria

Stage
Recovery

Primary Magnetic Separation

90 %

94 %

Cleaner Magnetic Separation

100 %

99 %

Flotation

94 %

88 %

Overall Recovery

85 %

82 %

New Opportunity – Flotation Tails Leaching

-

3-5% improvement; leading to
minimum 85% overall

Note that Table 1 presents a preliminary view on PFS recovery criteria, and that the in-progress variability testwork (see Table 3 in the following section) will confirm final PFS recovery criteria.  As noted in Table 1, primary magnetic separation stage recovery has improved versus the 2020 PEA, balancing the effect of reduced flotation stage recovery versus the 2020 PEA.  Additionally, flotation tailings nickel leaching represents a significant new opportunity to improve overall nickel recovery to match or exceed the 85% recovery assumed in the 2020 PEA.

Background

The Company has completed approximately 85% of a three-phase PFS metallurgical test program aimed at validating the Baptiste processing strategy, flowsheet, and key process parameters.  The Baptiste processing strategy leverages awaruite's unique characteristics and is summarized in Table 2.  The overall program is summarized in Table 3, resulting in a robust dataset to support the Baptiste PFS.  Phase 3 of the program has been subdivided into three components, as identified in Table 3.

Table 2 – Awaruite's Distinct Properties and Baptiste's Processing Strategy

Awaruite Property

Value

Processing Strategy to Leverage Property

Ferromagnetic

Highly ferromagnetic;
approximately ten times more than
magnetite

Use low intensity magnetic separation to cleanly
separate awaruite and other magnetic minerals
(magnetite) away from serpentine gangue minerals
(barren waste rock)

Very Dense

Specific gravity of 8.6;

compared to the serpentine gangue
minerals (approximately 2.5-3.0)

Select a coarse primary grind size while maintaining
high primary recoveries by using a hydrocyclone
classifier to preferentially recycle and further grind
awaruite containing particles (i.e., preferential
grinding of coarse awaruite)

Active Surface Properties

Comparable to sulphide minerals

Use froth flotation to cleanly separate awaruite
(which is readily floatable) from magnetite (which
does not float under typical froth flotation
conditions)

Very High Nickel Content

77% nickel

(Ni 3 Fe)

Produce a mineral concentrate by froth flotation that
is sufficiently high-grade (50-65% Ni) and low
enough in impurities to eliminate the need to further
upgrade the concentrate via downstream smelting

Table 3 – Summary of Three-Phase PFS Metallurgical Testwork Program

Phase

Objective

Key Results

Status

1

1. Confirm PEA magnetic separation
results using composite sample
representative of life-of-mine
operations.

2. Expand comminution and grinding
parameter databases.

1. PEA magnetic separation
configuration and results validated,
generating a magnetics-rich feed for
flotation with the potential for recovery
improvement in primary magnetic
separation due to preferential grinding.

2. Generation of a PFS-level
comminution database and provide
inputs into an engineering study to
confirm SAG milling as preferred over
HPGR grinding.

Complete

Refer to FPX
news release
dated December
8 th , 2021

2

1. Confirm nickel mineralogy across
Baptiste resource.

2. Confirm PEA conclusion that froth
flotation can generate high grade nickel
concentrate.

1. Consistent mineralization confirmed
across deposit and confirmation of the
resource DTR nickel basis as a valuable
geometallurgical tool.

2. PEA froth flotation configuration and
results validated, with the generation of a
high-grade nickel concentrate (> 60%
nickel) with a locked cycle recovery of
88%. Alternative flotation regime
identified to potentially reduce circuit
reagent costs and complexity.

Complete

Refer to FPX
news release
dated

July 27 th , 2022

3a

1. Large-scale, longer duration pilot
testing to further demonstrate the
recovery benefits observed in Phase 1.

2. Generate sufficient high-grade
awaruite concentrate for
hydrometallurgy testing.

1. Further validation of PEA flowsheet
and confirmation of benefit of
preferential grinding.

2. Sufficient high-grade concentrate
(>65% Ni) generated.

Complete

Refer to this
news release

3b

Variability testing to confirm the
homogeneity of the Baptiste resource
and further validate the process design
criteria and design factors.

Testing in progress

Results forecast
for release in the
second quarter
of 2023

3c

Hydrometallurgy testing program to
optimize previous leach testing, and
conduct purification and nickel
sulphate crystallization testwork to
demonstrate efficient integration into
the battery material supply chain

Testing in progress

Results forecast
for release in the
second quarter
of 2023

The overall metallurgical testwork campaign is being overseen by Jeffrey B. Austin , P.Eng., President of International Metallurgical and Environmental Inc.

Phase 3a –Large-Scale Pilot Testwork

Building on Phase 1 piloting, the Company undertook large-scale pilot testwork to (1) further demonstrate the recovery benefits of plant-scale processing, and (2) generate sufficient high-grade awaruite concentrate for hydrometallurgical testing.  The Company engaged Corem ( Quebec, Canada ) to conduct this testwork based on their expertise in magnetic separation and conventional froth flotation and their extensive, world-class facilities.  FPX's metallurgical team worked closely with Corem to optimize a wide range of parameters for each unit operation in the flowsheet, which was only possible due to the large overall scale of the pilot testwork.

Initial results of the large-scale pilot testwork were reported in the Phase 2 news release ( July 27, 2022 ) and focused on the performance of the primary grind and magnetic separation unit operations.  This release provides complete results from the large-scale pilot testwork, which is now substantially complete.

17 tonnes of material were processed in the pilot test conducted at Corem. The feedstock for piloting was a bulk sample from the starter pit area with a head grade of 0.117% DTR nickel, as compared to the resource average of 0.129%.

Primary grind feed rates averaged 210 kg/h, with a total run time of over 80 hours.  In contrast, the Phase 1 pilot plant processed 3.6 tonnes of feed material over 23 hours of run time.  As previously reported, the shorter duration of the Phase 1 pilot was insufficient to reach steady state milling conditions due to the high density of awaruite and its influence on the recirculating load, while the Phase 3 pilot reached steady state conditions after processing 11 tonnes of material over 54 hours.  When steady state was reached, multiple surveys were conducted at primary grind sizes ranging from 80% passing 150 to 280 microns, leading to a robust dataset which supports the conclusions inferred from the Phase 1 pilot testing.

Phase 3a – Primary Magnetic Separation

As demonstrated in the Phase 1 piloting, awaruite's high density (~8.6 specific gravity (" SG ")) presents an opportunity for preferentially grinding awaruite, versus the much less dense background of serpentine gangue minerals (approximately 2.5-3.0 SG).  As a hydrocyclone classifies minerals based both on particle size and particle density, preferential grinding of awaruite was both expected and observed.  The preferential grinding of dense awaruite means that Baptiste can utilize a relatively coarse primary grind (target of 80% passing 275 microns for the PFS, versus 300 microns in the 2020 PEA) while achieving the metallurgical performance of a much finer grind, thus reducing circuit sizing, power consumption, and operating consumables.

In addition to demonstrating the benefits of preferential grinding of awaruite, additional pilot plant runs and ancillary bench-scale programs were completed to determine the impact of magnetic field strength on recovery.  Note that the testwork supporting the 2020 PEA utilized relatively low intensity magnetic separation and did not thoroughly explore the benefits of increased field strength.

The impact of preferential grinding and magnetic field strength are summarized in Figure 2. The results clearly indicate a 0.5-1.5% increase in DTR nickel recovery due to increasing magnetic field strength from 1,200 to 1,800 Gauss.  Note that 1,800 Gauss is still sufficiently low to be classified as "low intensity" magnetic separation and as such does not require a significant change or cost increase in the magnetic technology required for industrial equipment.

Also seen in Figure 2, the pilot plant results clearly indicate an additional 0.5-1.0% recovery benefit attributed to preferential grinding, versus results achieved in bench-scale testing.  In aggregate, preferential grinding and increased magnetic field strength leads to a recovery increase of 2-3% at the coarse primary grind size targeted for the PFS (80% passing 275 microns).  For comparison, Figure 2 also presents the 90.1% DTR nickel stage recovery assumed in the 2020 PEA.   Additionally, Figure 2 also presents Phase 1 piloting results (96.9% DTR nickel recovery) which was conducted on a representative life-of-mine composite, illustrating the potential for further recovery improvements.  The in-progress variability testwork (Phase 3b ) should provide further insight into this potential recovery improvement.

Figure 2 – Impact of Grind Size, Preferential Grinding, and Magnetic Field Strength on DTR Nickel Recovery in the Primary Circuit (CNW Group/FPX Nickel Corp.)

Phase 3a – Regrind and Cleaner Magnetic Separation

Following the primary circuit pilot test, the regrind circuit pilot plant test was conducted.  The objective of the regrind circuit is to further liberate awaruite and subsequently clean the concentrate by magnetic separation in order to produce a higher-grade "magnetics-rich" concentrate which can then be further upgraded by conventional froth flotation.

Similar to the primary circuit, the regrind circuit was set-up with closed circuit grinding using a hydrocyclone classifier, once again to take advantage of awaruite's high density and the resultant preferential grinding potential.  While the preferential grinding phenomenon was expected, it was much more pronounced than in the primary circuit.  Despite a total run time of 46 hours and a total regrind feed of 1.8 tonnes, steady state conditions were not achieved.  At the time of shutdown, it was estimated that the DTR nickel recirculating load was 5600% and only approximately 40% of DTR nickel was sufficiently fine enough to have reported to cyclone overflow for magnetic separation cleaning.

For the approximately 40% of DTR nickel which was sufficiently ground to report to hydrocyclone overflow, the DTR nickel recovery in cleaner magnetic separation exceeded 99%, in line with the 100% stage recovery assumption in the 2020 PEA.  The remaining DTR nickel recovered in the regrind circuit clean-out was batch ground and then subjected to magnetic separation, where DTR nickel recovery also exceeded 99%.

Phase 3a – Flotation

Having created a magnetics-rich product through two stages of grinding and magnetic separation, the objective of froth flotation is to separate awaruite from magnetite.  The cleaner magnetic separation concentrate produced from the regrind mill clean-out material was subjected to bench- and pilot-scale batch flotation as this material contained the majority of DTR nickel (60% of the regrind circuit feed).  This material performed exceptionally well in flotation, with a 94% recovery to a final concentrate grading more than 65% nickel.  This is inline with previous bench-scale flotation testwork results and the PEA's assumption of 94% flotation stage recovery to a 63% nickel concentrate.

Flotation concentrate from the Corem work is now the feedstock for the current hydrometallurgical testing program, the results of which will be released in the second quarter of 2023.

Update on Phase 2 Flotation Testwork

As indicated in the Company's July 27, 2022 news release, key flotation testwork results achieved during Phase 2 included confirmation of the ability to consistently produce very high-grade flotation concentrates and the potential for an alternative (lower-acid) flotation regime which could achieve similar metallurgical performance while reducing flotation operating costs and complexity.  The Phase 2 news release indicated flotation testwork remained in progress, and an update on the results is presented herein.

Further optimization of the baseline flotation conditions resulted in a slight improvement in locked cycle testing, with flotation stage nickel recovery increasing from 87% to 88%.  As indicated in the Company's July 27, 2022 news release, while recovery values are less than the PEA flotation stage recovery criteria of 94%, the current flotation results were impacted by the lower feed grade owing to the hold-up of nickel in the pilot plant grinding circuit.  As comparable flotation tailings grades were observed across the current and historic flotation programs, and testwork continues to indicate that coarse, liberated awaruite is readily recoverable in flotation, the Company continues to anticipate recovery estimates would increase if the flotation feed material was more representative.

Additionally, locked cycle testwork on the alternative, lower-acid flotation regime achieved similar results to the Company's historical flotation conditions. This lower-acid regime has the potential to reduce acid consumption by approximately 25%.  Fundamentally, testwork has now clearly identified two viable flotation regimes which can achieve similar and excellent metallurgical performance, thereby validating conventional froth flotation as a tool to produce very high-grade awaruite concentrates.

New Processing Option to Increase Nickel Recovery

In addition to the ongoing flotation testwork, the Company is conducting a test program to demonstrate the potential to further improve nickel recovery through treating flotation tailings via leaching.  The objective of this processing concept is to access any nickel contained in low-grade awaruite containing particles that would dilute the final concentrate grade or ultra-fine awaruite particles that may not respond as effectively to conventional froth flotation.

Testwork to-date demonstrates that 65% of the nickel contained in flotation tailings can be readily leached using dilute sulphuric acid under ambient temperature and pressure conditions.  The balance of unrecovered nickel (35%) is almost entirely composed of nickel contained within magnetite, either as locked particles or in solid solution.  This indicates that the leaching process is extremely efficient for liberated or exposed awaruite particles.  Nickel was selectively leached away from magnetite with minimal co-leaching of iron (around 2-3%) and very low free acidities in the leach liquor, which indicates the potential for low reagent consumptions.  The majority of nickel in such a leach solution could readily be recovered as a mixed hydroxide precipitate (" MHP ") using simple and conventional unit operations.  This would be a new product stream, in addition to the high-grade awaruite concentrate which would still constitute the vast majority (95% or greater) of nickel output.

Flotation tailings nickel leaching represents a significant new opportunity to improve overall nickel recovery to match or exceed the 85% recovery assumed in the 2020 PEA. Based on results to date, it is estimated that DTR nickel recovery could be increased by 3-5% overall (from 82% to a minimum of 85%).

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") and supervised, reviewed, and verified by Jeffrey B.  Austin, P.Eng., President of International Metallurgical and Environmental Inc., a "Qualified Person" as defined by NI 43-101 and the person who oversees metallurgical developments for FPX Nickel.

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 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 99 holes and 33,700 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.  In 2021, the Company executed a maiden drilling program at Van, which has returned promising results comparable with the strongest results at Baptiste.  In 2022, the Company executed a step-out drilling program at Van which demonstrated a significant expansion of the 2021-identified mineralized zone.

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.

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FPX Nickel Establishes Technical Advisory Committee with Representatives from Strategic Investors

FPX Nickel Establishes Technical Advisory Committee with Representatives from Strategic Investors

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the creation of a Technical Advisory Committee (" TAC ") to provide guidance to FPX's management regarding the exploration and development of the Baptiste Nickel Project (" Baptiste " or the " Project ") in central British Columbia .

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

The TAC includes representatives of FPX's three strategic investors, each holding an approximate 9.9% interest in the Company's issued and outstanding shares – Sumitomo Metal Mining, Outokumpu Oyj, and the confidential corporate strategic investor first announced in November 2022 .

The TAC will benefit from the contribution of members from each of the strategic investors with diverse experience covering mineral exploration, mine project development and operations, sustainability and external relations. The group will review project materials and meet with FPX management on a quarterly basis to address risks and opportunities pertaining to the development of Baptiste. Consistent with the terms of the Company's investor rights agreements with each of its three strategic investors, the mandate of the TAC is strictly of an advisory nature; decisions regarding the Project will be subject to the sole determination of FPX's management and board of directors.

"We are grateful for the engagement of our three strategic investors in supporting the development of Baptiste," commented Martin Turenne , FPX's President and CEO. "Each of the three strategic investors brings unique technical capabilities, collectively covering the key aspects of mining, processing and downstream nickel consumption in the stainless steel and electric vehicle battery supply chains. The FPX management team looks forward to benefiting from this technical collaboration as we continue to advance Baptiste."

Market Maker Services

On March 1, 2024 , FPX retained PI Financial Corp. (" PI ") to provide market-making services in accordance with the TSX Venture Exchange (" TSX-V ") Policies. As disclosed in the Company's March 1, 2024 news release, in consideration of the Market Making Services, the Company is paying PI a monthly fee for a minimum term of three months. For additional clarity, the agreement provides an initial term of 12 months, which after three months may be terminated by the Company upon 30 days' written notice‎. After the initial 12-month term, the agreement continues on a month-to-month basis for an unspecified period. As of March 1, 2024 , PI did not have any interest, directly or indirectly in FPX or its securities, and did not possess any right to acquire such interest.

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 245 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 and unceded territories of the Tl'azt'en Nation and 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 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/ .

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 Outlines Baptiste Nickel Project Advancement Activities

FPX Nickel Outlines Baptiste Nickel Project Advancement Activities

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to outline plans for advancement of the Baptiste Nickel Project (" Baptiste " or the " Project ") in 2024. Building on the completion of the robust 2023 preliminary feasibility study (" PFS "), the Company's strategy is designed to prioritize critical path activities in preparation for entry into the Provincial and Federal environmental assessment (" EA ") in the first quarter of 2025.

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

Highlights

  • Critical readiness activities for the EA are focused on three key areas:
    • Collaboration with Indigenous communities: Achieved through building of relationships and progression towards establishment of EA agreements with potential participating Indigenous communities. This will include enshrining protocols for collaborative decision-making and consent-based processes with each community.
    • Cultural and environmental baseline studies: FPX is committed to an Indigenous-led baseline program, and the Company's ongoing and expanded program will continue to build the comprehensive dataset required for the EA process and engineering studies.
    • Engineering studies and feasibility readiness: Through desktop and laboratory programs, the Company will continue to refine key Project elements, readying the project for the EA and feasibility study processes.

"FPX is focused on prioritizing and advancing the key workstreams to successfully enter the EA process, which sits along the critical path for the overall development of the Baptiste Nickel Project," commented Martin Turenne , FPX's President and CEO. "We are committed to executing project development activities in partnership with Indigenous communities in the Project area and look forward to supporting the development of Canada's critical minerals ecosystem in keeping with our core values of safety, respect, and collaboration."

Collaboration with Indigenous Communities

In 2024, the Company will work to establish EA agreements with all potential participating Indigenous communities. FPX is committed to building relationships with Indigenous communities early and through inclusive processes, to providing resources to enable engagement and collaborative decision-making, to enabling Indigenous communities to advance self-determined goals, and to optimizing long-term sustainable benefits and opportunities connected to the Project.

FPX will continue collaborative Project design in advance of the EA process, building on a series of mine design workshops initiated in 2023. Initial discussions in these workshops have focused on community values and preliminary learnings from Indigenous-led environmental baseline studies and have emphasized the importance of respect and protection of the environment.

A collaborative decision-making process with Indigenous communities is planned in 2024 to determine key aspects of mine design including tailings facility location and powerline routing, in advance of entering the EA process. Agreements with Indigenous communities are a priority for the Company in 2024 as they will be a mechanism to formalize these commitments and initiatives.

Cultural and Environmental Baseline Studies

Cultural and environmental baseline studies have been ongoing for the Baptiste Nickel Project since early 2022 and include surface water hydrology and water quality, wildlife, vegetation, fisheries and aquatics, and archeology programs. Ongoing and expanded 2024 programs have been scoped in preparation for the EA process. The 2024 field program will include an expansion of activities in the Project area, and commencement of studies focused on linear infrastructure, including the Project access road and powerline corridors.

FPX is committed to the ongoing execution of an Indigenous-led cultural and environmental baseline program. To achieve this, the Company has prioritized engagement of Indigenous-owned businesses and partnerships, such as Shas-Ti Environmental LP and Sasuchan Environmental LP, to ensure integration of Indigenous perspectives into the scoping and execution of these studies.

"The environmental consulting group Ecofor and the community of Binche have a long history of working together and in 2022 this was formalized by the establishment of Shas-Ti Environmental, a partnership undertaking the Indigenous-led baseline studies and training of community members for the Baptiste Nickel Project," commented Dwayne Martin , Community Liaison Manager for Shas-Ti Environmental. "A Dakelh phrase that guides our approach to collaboration is Alhgoh 'uts'ut'en, meaning we all work together . We are extremely proud of the work we are doing and that FPX is committed to this philosophy of working together."

Project Design & Engineering

Following completion of the PFS in October 2023 , the Company conducted a comprehensive planning exercise to define the path forward for Baptiste through project development and into production, and to ensure the Company will enter the EA process with the level of engineering definition necessary to de-risk the overall Project timeline. In 2024, engineering work will be centered on metallurgical testing and value engineering activities.

Metallurgy

The PFS was robustly supported by an extensive metallurgical testwork program which included extensive bench and multiple pilot-scale testwork programs. The Company has now commenced the feasibility study (" FS ") metallurgical program, which is focused on refining select elements of the flowsheet while also completing the typical testwork elements required to support FS detailing.

The FS metallurgical program commenced with pilot-scale testing of the concentrator flowsheet to (a) refine select elements of the Baptiste concentrator flowsheet, and (b) produce sufficient awaruite concentrate to support larger-scale testwork of the downstream refinery flowsheet. The concentrator pilot-scale testwork program is nearing completion, and results along with the confirmed plan for refinery testwork for the production of battery-grade nickel sulphate will be presented in April 2024 . Both of these programs are being funded in part by a non-repayable grant from the federal government of Canada under the Critical Minerals Research, Development, and Demonstration (" CMRDD ") program.

Other elements of the FS testwork program in 2024 include the types of typical and routine testwork required to support FS detailing, including bulk material handling characterization, solid-liquid separation, comminution variability, briquetting, and flotation tailings leach optimization testwork. Additionally, the Company will evaluate the potential opportunities which were presented in the PFS, such as nickel sulphide flotation and upgrading of a potential iron ore concentrate. The FS testwork program is expected to run through to 2025, and material findings will be sequentially released when completed.

Value Engineering

Building on the technical and commercial viability demonstrated in the PFS, the Company has commenced a value engineering program which looks to further improve project value, and also provide suitable layout and execution certainty ahead of the EA process. To this effect, concurrent value engineering studies are focusing on optimization of the following areas: process plant design, overall site layout, carbon intensity, and linear infrastructure (access road and powerline).

The value engineering exercise has identified several potential improvements to the conceptual Project design; the Company will report the full results of the value engineering program in the second quarter of 2024. Technically and economically feasible alternatives that are identified through value engineering will be further evaluated through collaboration with Indigenous communities, as described above.

Feasibility Study Planning

The Company will also progress scoping and planning for the 2025 field season, which will focus on data collection to support the feasibility study, including geotechnical investigations, continued environmental baseline data collection, and resource drilling.

Andrew Osterloh , P.Eng., FPX's Senior Vice President, Projects & Operations, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

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 245 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 and unceded territories of the Tl'azt'en Nation and 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 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 .

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 Appoints Market Maker

FPX Nickel Appoints Market Maker

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has retained PI Financial Corp. (" PI ") to provide market-making services in accordance with the TSX Venture Exchange (" TSX-V ") Policies.

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

PI, an investment dealer located in Vancouver, British Columbia , will trade the securities of FPX on the TSX-V, adhering to regulatory exchange policies to maintain a reasonable, fair market and to enhance the liquidity of the Company's shares (" Market Making Services "). In consideration of the Market Making Services, the Company will pay PI a monthly fee of $5,000 for a minimum term of three months. After three months, the agreement with PI may be terminated by the Company at any time upon 30 days' written notice. FPX and PI are unrelated and unaffiliated entities. PI will not receive shares or options as compensation and the capital used for market-making will be provided by PI.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia.  Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling.  Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project.  The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and 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 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.

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 Marketing Making Services and the frequency of any trades in connection with the Market Making 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 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 Subsidiary CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia

FPX Nickel Subsidiary CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of CO2 Lock Corp. (" CO2 Lock "), its majority-owned subsidiary specializing in carbon capture and storage (" CCS ") via permanent mineralization. CO2 Lock has completed a comprehensive field program at its SAM site in central British Columbia including the first-ever successful injection of CO 2 into a brucite-rich ultramafic mineral project. This achievement marks a significant milestone in the development of CO2 Lock's innovative in-situ CO 2 mineralization technology.

Highlights
  • Successful injection of CO 2 at depth, with downhole sensors verifying the desired CO 2 content throughout the carbonated water injection, bolstering confidence in the effectiveness of CO2 Lock's proprietary approach
  • Geological analysis confirms that the SAM deposit has promising mineralogy for CO 2 mineralization and permanent storage, with high values of brucite (key carbon-reactive mineral)
  • Extraction of multi-tonne surface bulk sample for use in an ex-situ CO 2 mineralization pilot at CO 2 Lock's laboratory in the Vancouver area

"The promising geological analysis and successful demonstration of the CO 2 injection into the SAM project highlight the significant potential of CO2 Lock's in-situ mineralization technology," commented Martin Turenne , FPX's President and CEO. "We look forward to seeing CO2 Lock's next steps in advancing its proprietary approaches to both in-situ and ex-situ carbon mineralization at its SAM project."

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FPX Nickel Appoints Kim Baird to Board of Directors

FPX Nickel Appoints Kim Baird to Board of Directors

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Kim Baird C.M., O.B.C., Hon LL.D. to the Board of Directors, effective immediately.  Ms. Baird is an accomplished leader and strategic advisor working with Indigenous communities, governments, businesses and other organizations. In her prior role as the elected Chief of the Tsawwassen First Nation, she negotiated and implemented British Columbia's first modern urban treaty, establishing for the Tsawwassen People ownership and governance over their land and resources.

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

"We are honoured to welcome Kim to the FPX Board," commented the Company's Chairman, Peter Bradshaw . "Kim is a distinguished expert in Indigenous policy, governance, and economic development and is a highly-regarded advocate for Indigenous peoples. Kim brings expertise in major infrastructure projects and the associated opportunities for economic reconciliation and Indigenous participation in these projects. She will be a tremendous addition to the FPX team as we continue advance our flagship Baptiste Project."

Ms. Baird currently acts as the Chancellor of Kwantlen Polytechnic University and as the interim Chief Administrative Officer for the Tsawwassen First Nation. She previously served on the boards of BC Hydro and the Greater Vancouver Board of Trade, and currently serves as a director on several boards including the Canada Infrastructure Bank. She is a member of both the Order of Canada and the Order of British Columbia , and has been the recipient of several distinguished awards, including the British Columbia Reconciliation Award (2022) and the Queen Elizabeth Platinum Jubilee Award (2022).

The appointment of Ms. Baird is subject to receipt of approval from the TSX Venture Exchange and the Securities Regulatory Authorities.

Grant of Restricted Share Units

The Company has awarded an aggregate of 3,985,000 restricted share units (" RSUs ") under the Company's share compensation plan to officers, employees and non-executive directors. The RSUs will vest in three equal installments on the annual anniversaries and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia.  Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling.  Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project.  The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and 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 unique style of naturally occurring nickel-iron mineralization known as awaruite.  For more information, please view the Company's website at https://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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VIZSLA COPPER CLOSES NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $2.5M AND PROVIDES UPDATES

VIZSLA COPPER CLOSES NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $2.5M AND PROVIDES UPDATES

/NOT FOR DISSEMINATION IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES./

Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) ( FRANKFURT : 97E0) (" Vizsla Copper " or the " Company ") is pleased to announce that it has closed its non-brokered private placement (the " Private Placement "), previously announced on March 5, 2024 and March 18, 2024 issuing 38,460,995 units (the " Units ") at a price of $0.065 per Unit for gross proceeds of CAD$2,499,962.08 .

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Quetzal Copper Announces Acquisition of Cristinas Copper Project, Chihuahua, Mexico

Quetzal Copper Announces Acquisition of Cristinas Copper Project, Chihuahua, Mexico

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company"), a copper-focused exploration company, is pleased to announce that the Company entered into an agreement with certain third-party vendors (the "Polaris Vendors"), pursuant to which the Company has been granted the option (the "Polaris Option") to acquire all of the issued and outstanding shares of Polaris Resources, S.A. de C.V. ("Polaris Resources"). Polaris Resources holds a 100% interest in the Cristinas copper project located in the state of Chihuahua, Mexico (the "Cristinas Project"), subject to fulfillment of certain underlying payments to be made to the underlying property vendors (the "Property Vendors").

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Canada Nickel Commences Front End Engineering Design at Crawford Nickel Sulphide Project

Canada Nickel Commences Front End Engineering Design at Crawford Nickel Sulphide Project

Highlights

  • Crawford on track for mid-2025 construction decision and first production by year-end 2027
  • Front End Engineering Design led by Ausenco

Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) announced today that it has commenced Front End Engineering Design at the Company's Crawford Nickel Sulphide project led by its long-term engineering partner Ausenco Engineering Canada ULC ("Ausenco") and supported by a number of engineering firms from the project's feasibility study.

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1844 Receives Final Payment for Sale of Lac Arsenault Project

1844 Receives Final Payment for Sale of Lac Arsenault Project

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to provide an update with respect to its previously announced sale (the "Transaction") of the Lac Arsenault project to Canadian Gold Resources Ltd. (the "Purchaser"). Pursuant to the terms of the Transaction, the Purchaser paid 1844 Six Hundred Thousand Canadian Dollars (CAN$600,000.00) as follows:

  • One hundred thousand Canadian dollars (CAN$100,000) in cash; and

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Grid Battery Results of Annual General and Special Meeting of Shareholders

Grid Battery Results of Annual General and Special Meeting of Shareholders

Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce the results of its Annual General and Special Meeting (the "Meeting") of shareholders of the Company held on April 9, 2024. All matters set out in its management information circular dated March 7, 2024 were approved with 99% voting in favour of all resolutions, including approval of the proposed plan of arrangement (the "Arrangement") for the previously announced spin-out by the Company of 9,414,040 common shares of its wholly owned subsidiary ACDC Battery Metals Inc. ("ACDC") to the shareholders of the Company and the Company will transfer to ACDC ownership of its Nickel Properties in British Columbia. The Company will keep shareholders apprised of the status of the closing of the Arrangement and the timing of the share dividend

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Ascendant Reports Significant Metallurgical Improvements at Its Lagoa Salgada VMS Project, Portugal

Ascendant Reports Significant Metallurgical Improvements at Its Lagoa Salgada VMS Project, Portugal

  • Results demonstrate ability to produce saleable and highly marketable Zinc and Lead concentrates from the Primary Massive Sulphide domain.
  • Significant improvement in Zinc recoveries (13% increase) and concentrate grades (22% increase) compared to the Feasibility Study.
  • Metallurgical results, completed at coarser grind sizes supporting simplified flow sheet and lower capital and operating costs relative to the Feasibility Study.
  • Further improvement anticipated from additional ongoing metallurgical optimization test work.

Ascendant Resources Inc. (TSX:ASND)(OTCQX:ASDRF);(FRA:2D9) ("Ascendant" or the "Company") provides an update on the optimization metallurgical test program on the primary massive sulphides ("PMS") domain at Lagoa Salgada. The Massive Sulphides are the highest margin domain and a large value driver of NPV for the Lagoa Salgada Project. Bench scale metallurgical testing on composite samples from the PMS ore body were completed by Maelgwyn Metallurgical Laboratories (South Africa) with oversight from Minepro Solutions (Spain) and DRA Global (South Africa

Following completion of the July 2023 43-101 Feasibility Study ("FS"), Ascendant initiated an optimization program for metallurgical performance to improve metal recoveries, concentrate grades and characterization of the deleterious elements in order to enhance the revenue potential for its Lagoa Salgada Project. The initial phase of the optimization program has been focused on the Primary Massive Sulphide mineralization from its Venda Nova North Sector, as this zone is the major revenue contributor for the project and is exploited early in the mine life. In addition to the metallurgical work, the company continues to progress its environmental permitting activities and expects to be granted the permit in Q3/24 which would position Lagoa Salgada as the next mine ready project on the Iberian Pyrite belt.

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