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Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to announce that it has entered into a binding ore supply agreement (“Agreement”) with Société des Mines de la Tontouta (“SMT”).
Highlights
- Binding ore supply agreement entered into with Société des Mines de la Tontouta (“SMT”), a significant New Caledonian mining company, for up to 600,000 wmt per annum.
- Targeting a typical limonite ore specification of 1.6% Ni and 0.18% Co.
- Ten year ore supply term.
- Agreement between QPM and SMT to explore further opportunities for mutual investment and commercial arrangements.
- In combination with the Société Le Nickel ore supply agreement, QPM has now secured up to 1,600,000 wmt nickel ore per annum under binding contracts.
SMT was one of the original supporters of QPM and the TECH Project and QPM is delighted to have formalised this agreement with SMT. In combination with the ore supply agreement executed with Société Le Nickel (“SLN”), QPM has now contracted its ore supply requirements for the TECH Project (refer to ASX announcement 1 March 2022).
Key Terms
The key terms of the Agreement are detailed in the table below:
As part of the Agreement, SMT and QPM have also agreed to explore further opportunities that are mutually beneificial including investment and other commercial arrangements.
QPM Managing Director Dr Stephen Grocott commented,
“I am delighted to enter into this agreement with SMT who have impressive mining operations in New Caledonia that meet the requirements of western automobile manufacturers who are concerned with sustainability and responsible mining.
SMT has been a strong supporter of the TECH Project for a long time and we look forward to having a long term partnership that delivers value to both companies.”
SMT General Manager Arnaud Bondoux commented,
“Signing a nickel ore supply contract with QPM means renewing relations with Australia, which has always been a historical partner of SMT and New Caledonia. Indeed, exports between SMT and Australia have taken place over a period of more than 25 years, from 1989 until recently in 2015.
SMT was involved in QPM's innovative project from the outset by actively participating in the pilot tests. In fact, QPM and SMT have been in contact for four years now and have formed a partnership that led to the signing of a first MOU in 2017.
SMT would like to make a long-term commitment to QPM, beyond its role as a supplier, in order to propose a new model for the valorization of New Caledonian ore.”
About SMT
SMT (Société des Mines de la Tontouta) is a subsidiary of the Ballande Group. A "small miner" and historic mining company, it has been present in New Caledonia since the end of the 19th century. SMT is also committed to sustainable development and exporting ore to this project (which is aimed for the battery market), so close to New Caledonia, is an opportunity for our company.
This announcement has been authorised for release by the Board.
Click here for the full ASX Release
This article includes content from Queensland Pacific Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
QPM:AU
FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners
Overview
As described in the Company's October 15, 2024 news release, FPX completed a pilot-scale refining test program to advance the technical maturity of refining the Baptiste awaruite concentrate to nickel sulphate. This test program included continuous, pilot-scale leaching to produce low-impurity leach solution. A small portion of the leach solution was further advanced through purification and crystallization operations to nickel sulphate crystals to demonstrate the technical viability of the purification process. The remainder of leach solution was retained for future testing including continuous, pilot-scale processing of the purification and crystallization area, ensuring the final refinery strategy is supported by purification and crystallization requirements defined in collaboration with FPX Nickel's current and prospective downstream partners.
FPX recently re-engaged Sherritt Technologies Ltd. to conduct an additional nickel sulphate production run, building on Sherritt's successful completion of the previous pilot-scale refining test program. In the current testing campaign, a portion of this remaining leach solution has been processed to produce larger quantities of nickel sulphate crystals. As with previous testing campaigns, the quality of the produced nickel sulphate, presented in Table 1, meets the strict target specifications for battery applications. To further advance the produced qualification process, the nickel sulphate samples will be provided to prospective downstream partners to ensure the quality and suitability of the nickel sulphate for their battery manufacturing process. Figure 1 shows a portion of the nickel sulphate samples produced.
Table 2 – Baptiste Nickel Sulphate Crystal Quality vs. Target Specification
Qualified Person
The metallurgical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101: Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators ("NI 43-101"). Testwork was supervised, reviewed, and verified by Kyle D. Marte, P.Eng., FPX Nickel's Director of Metallurgy and a "Qualified Person" as defined by NI 43-101.
About the Baptiste Nickel Project
The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni3Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km2 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$55 million has been spent on the exploration and development of Baptiste.
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.
Ni-Co Energy Set to Mobilize Critical Minerals Exploration just 90 km from Montreal
Bilingual Corporate Video introducing Ni-Co Energy Inc.
Summer Field Program Priorities (June–July)
- Targeted prospecting of southwest TDEM conductors (Kremer-2)
To verify the presence of outcropping massive or semi-massive sulfides. - Prospecting of northeast TDEM conductors (Kremer-1 2)
To assess the nature of EM anomalies and any associated metallic indicators. - Analysis of residual conductors in the eastern portion
To refine the global geophysical model ahead of final drill target placement.
Updated Interpretation of the 420 Assays from 2023
The 420 samples from the 22 holes drilled in fall 2023 have been recalculated in terms of nickel equivalent (NiEq %), using metal prices as of May 22, 2025 (Ni = $7.0375/lb, Cu = $4.6559/lb, Co = $15.286/lb).
Indicator | Updated Result |
Samples > 0.5 % NiEq | 134 (≈ 32%) |
Samples > 1.0 % NiEq | 70 (≈ 17%) |
Maximum grade | 3.89 % NiEq |
Average grade (all samples) | 0.48 % NiEq |
These data confirm the presence of significant mineralization, which may be associated with a mafic intrusion interpreted from geophysical surveys. Magnetic, gravity, and EM data show remarkable alignment over 8 km, suggesting a highly favorable environment in the central block (Kremer-2) over a 3 km section — an ideal structural setting for the formation of thicker sulfide lenses.
Next Steps – The Company Anticipates Undertaking a Drill Program in the Fall
- Validate the position and dip of key targets through surface work.
- Mobilize two drill rigs in the fall to test the central fold hinge and associated deep conductors.
- Carry out borehole EM (BHEM) surveys after each drill hole to visualize the extension of mineralized zones or detect off-hole conductors.
Photos of the team, outcrops, and trenches will be shared regularly on the company website, as well as on Facebook, LinkedIn, and X during the campaign.
The scientific and technical information in this news release has been reviewed and approved by Marc Boivin, P.Geo., a Qualified Person under National Instrument 43-101.
About Ni-Co Energy Inc.
Ni-Co Energy Inc. is exploring the Kremer project, a mafic–ultramafic intrusion prospective for nickel, copper, and cobalt, advantageously located in southern Québec and supported by infrastructure and low-carbon hydroelectric power.
For further information, please contact:
Ni-Co Energy Inc.
info@nicoenergy.ca
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