FPX Nickel Subsidiary CO2 Lock Corp. Closes $1.1 Million Financing and Provides Technical Update on Standalone Carbon Capture and Storage Project in British Columbia

FPX Nickel Subsidiary CO2 Lock Corp. Closes $1.1 Million Financing and Provides Technical Update on Standalone Carbon Capture and Storage 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 focused on establishing standalone operations for the permanent storage of carbon dioxide in brucite-rich serpentinized peridotite (" BRSP ") host rock.  CO2 Lock has successfully completed its latest funding round, raising $1.1 million through a Simple Agreement for Future Equity (" SAFE ") from third-party investors.  Proceeds of the SAFE will be used to conduct additional field work and sample collection at CO2 Lock's wholly owned project site Sam, located southwest of Prince George utilizing ultramafic rocks and the mineral brucite for ex-situ carbon dioxide removal (" CDR ") or for in-situ CO 2 storage and sequestration as part of a carbon capture and storage (" CCS ") value chain.

Highlights
  • Closing of $1.1M SAFE financing, funding CO2 Lock well into 2024
  • Recent completion of regional structural geology assessment and surficial terrain mapping at 100%-owned Sam project in central British Columbia
  • Planned commencement of significant, cutting-edge geophysics program to identify areas of higher porosity and permeability for groundwater flow

These technical programs advance CO2 Lock's understanding of key sub-surface parameters for future demonstration and pilot scale in-situ CO 2 mineralization programs.  Groundwater characteristics for in-situ mineralization are driven in large part by faulting and fracturing of the rock mass; with this work, CO2 Lock will be able to prioritize areas with more potential for high hydraulic conductivity most suitable for injection, and to follow up with exploration well drilling for injection testing, including CO 2 and other tracer elements to demonstrate carbon mineralization in the field.

Background

On March 30, 2022 , FPX announced the formation of CO2 Lock as a self-funding entity to pursue geoscience-related CCS opportunities.  FPX retains 100% of the carbon credits associated with CCS on its own properties, and will retain a right to use, free of charge, any intellectual property developed by CO2 Lock for the benefit of FPX's own properties.

CO2 Lock is working on three pathways to commercial CO 2 storage utilizing BRSP deposits; ex-situ rock, ex-situ water, and in-situ rock.  All three pathways utilize labile magnesium cations which combine with CO 2 to form stable carbonate minerals.  Both ex-situ pathways involve processing material from BRSP deposits above ground, mixing rock or water with CO 2 through various processes, and generating carbon minerals at surface.  The in-situ pathway involves injecting CO 2 rich water into BRSP deposits at depth; this process is similar to Project Orca in Iceland where a joint venture between Carbfix and Climeworks utilize basalts to permanently mineralize CO 2 in-situ.

Structural and Surficial Geologic Mapping

As part of CO2 Lock's ongoing site characterization work, a structural geology assessment was completed at the Sam project to identify major structures, faults, and stress regimes to identify prospective areas with high hydraulic conductivity.  Work was conducted at multiple scales using regional scale data, as well as site specific information from outcrop and geophysics.  Hydraulic conductivity is a key parameter for in-situ CO 2 injection; this structural lineament mapping will be utilized in the design of future exploration and well drilling as CO2 Lock looks to test in-situ CO 2 mineralization via injection in the near term prior to pilot scale injection design to permanently store captured CO 2 .

In addition, CO2 Lock completed surficial geology and terrain mapping to characterize surface materials across the Sam project area.  This work identified multiple areas with easy access to bedrock for ex-situ sample collection, as well as targets with limited cover for future ground-truthing and exploration as CO2 Lock looks to fully characterize site geology, mineral resources and CO 2 mineralization capacity.

Geophysics Program

CO2 Lock will also begin a towed transient electromagnetic (" tTEM ") survey at the Sam site.  This highly efficient system presents a new method of geophysics to map certain ground conditions and aquifer characteristics in the near-surface which are critical for shallow CO 2 injection testing.  This method provides high resolution data that can be interpreted and integrated with other structural and geologic data to prioritize areas for follow-up drilling and pilot scale testing.

About SAM

Located approximately 50 kilometers southwest of Prince George, BC , the 4084 hectare Sam project was staked in 2022 and hosts a large, serpentinized ultramafic body composed primarily of harzburgite, dunnite, and peridotite. This ultramafic assemblage is very similar to the Baptiste deposit in the Decar Nickel District owned by FPX Nickel Corp. ("FPX") where six years of foundational research on CO 2 mineralization was conducted, and which forms the basis for CO2 Lock's process. During the 2022 season, CO2 Lock initiated a rock sampling program to assess brucite mineralization of economically sizeable untested ultramafic rocks within the province of British Columbia . The Sam property contains ultramafic bodies identified by the BC Geological Survey through mapping and geophysical surveying along the same trend as the Decar Nickel District, and the Giga Metals Corp.'s Turnagain Nickel Project. These deposits and prospective bodies, including the Sam property, are all hosted within the Cache Creek Terrane, indicating similar geologically temporal and structural formation and obduction. These are key factors for brucite mineralization potential and increases the prospectivity of the Sam ultramafic bodies.

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

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/September2023/28/c8335.html

News Provided by Canada Newswire via QuoteMedia

FPX:CA
FPX Nickel

FPX Nickel Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less

Exploring and developing the high-margin Baptiste nickel project in Canada

FPX Nickel Completes Successful Drilling Programs at Baptiste Nickel Project in Central British Columbia

FPX Nickel Completes Successful Drilling Programs at Baptiste Nickel Project in Central British Columbia

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the completion of drilling programs at the Baptiste Nickel Project (" Baptiste " or " the Project ") in Central British Columbia . The previously announced programs (see FPX's July 7, 2025 news release) mark the most active campaign at Decar since 2021, with a focus on targeting the first phase completion of geomechanical, hydrogeological, and condemnation holes to complement the Project dataset for the feasibility study and the Company's planned entry into the environmental assessment (" EA ") process in the fourth quarter of 2025.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Joins Mining Association of Canada and Signs on to UN Global Compact, Demonstrating Industry Leadership in Sustainable and Responsible Project Development

FPX Nickel Joins Mining Association of Canada and Signs on to UN Global Compact, Demonstrating Industry Leadership in Sustainable and Responsible Project Development

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce its participation in two leading sustainability initiatives in 2025, reinforcing our commitment to responsible mineral exploration and project development. These initiatives include the Company's new membership in the Mining Association of Canada (" MAC ") and associated commitment with MAC's Towards Sustainable Mining program for exploration-stage companies, and participation in the United Nations Global Compact.

"FPX's core values have long emphasized environmental stewardship, transparent engagement, and responsible resource development," commented Martin Turenne , FPX Nickel's President and CEO. "Our participation with these leading associations provides further validation of our commitment to best practices in our ongoing efforts to advance the Baptiste Nickel Project in the right way, and deliver value for stakeholders, Indigenous communities, and future generations."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Provides Update on Normal Course Issuer Bid

FPX Nickel Provides Update on Normal Course Issuer Bid

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on its Normal Course Issuer Bid (" NCIB ") that was announced on December 2, 2024 . Since December 5, 2024 the Company has repurchased a total of 720,000 common shares (" Common Shares ") of the Company at an average price of $0.24 per share under the NCIB.

The repurchased shares represent progress toward the Company's ability to acquire up to an aggregate of 5,000,000 Common Shares, representing approximately 2% of the Company's issued and outstanding shares, over the 12-month period ending December 5, 2025 . All shares repurchased under the NCIB have been cancelled.

Purchases under the NCIB continue to be executed through open market transactions on the TSX Venture Exchange, with the acquisition price determined by the prevailing market conditions at the time of each transaction. Cormark Securities Inc. is managing the NCIB on behalf of FPX.

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.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/24/c8569.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

About FPX Nickel Corp.

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

On behalf of FPX Nickel Corp.

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

Forward-Looking Statements

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

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

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Receives Multi-Year Area-Based  Permit and Commences 2025 Drilling Activities at Baptiste Nickel Project

FPX Nickel Receives Multi-Year Area-Based Permit and Commences 2025 Drilling Activities at Baptiste Nickel Project

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to report that it has received a multi-year area-based (" MYAB ") permit from the government of British Columbia to support the renewal of drilling activities at the Baptiste Nickel Project (" Baptiste " or " the Project ") in 2025.  This year's drilling program has commenced successfully, targeting the completion of geomechanical, hydrogeological, and condemnation holes to complement the Project dataset for the feasibility study and the Company's planned entry into the environmental assessment (" EA ") process in the second half of 2025.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Angkor Advances Exploration Independently On Andong Bor License, Cambodia

Angkor Advances Exploration Independently On Andong Bor License, Cambodia

(TheNewswire)

GRANDE PRAIRIE, ALBERTA - August 28, 2025 TheNewswire - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") announces its previous partner, CanBodia Copper Corp. ("CCC") failed to meet its obligations regarding the Andong Bor License.  Following multiple notices to CCC from October 2024 to May 31, 2025, Angkor, through its Cambodian solicitor, filed a Notice of Default with CCC on July 1, 2025, terminating the letter agreement with CCC on the Andong Bor License and declaring the joint relationship null and void.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Bold Ventures Receives Exploration Permits for the Burchell Gold Copper Project and Highlights Ring of Fire News

Bold Ventures Receives Exploration Permits for the Burchell Gold Copper Project and Highlights Ring of Fire News

Bold Ventures Inc. (TSXV: BOL,OTC:BVLDF) (the "Company" or "Bold") is pleased to announce that it has received two exploration permits for work at the Burchell Gold Copper Project. The applications were made as a result of recent exploration work in and around the "111 Zone" gold discovery (see Bold News Release dated January 9, 2025) and the strike extension of the Moss Trend on the adjacent Moss Gold Property of Goldshore Resources Inc. to the west (see Bold New Release dated July 21, 2025 and Bold News Release dated August 18, 2025). The Burchell Property is located approximately 100 km west of Thunder Bay, Ontario.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heritage Mining Provides Exploration and Melba Project Update

Heritage Mining Provides Exploration and Melba Project Update

(TheNewswire)

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Group Eleven Drills 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire

Group Eleven Drills 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the latest three step-out drill holes from the discovery horizon at its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Republic of Ireland. Drilling at Ballywire's deeper, Cu-Ag target (100-200m below discovery horizon) is in progress (to be reported as soon as possible).

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Prismo Metals Discovers Two Separate Mineralized Veins at Silver King

Prismo Metals Discovers Two Separate Mineralized Veins at Silver King

(TheNewswire)

Prismo to Host Webinar on September 3rd

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
FPX Nickel

FPX Nickel Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×