VANCOUVER, BC, June 21, 2021 /CNW/ - FPX Nickel Corp.
(TSXV: FPX) ("FPX" or the "Company") is
pleased to announce the appointment of Andrew Osterloh, P. Eng., as Vice-President,
Projects. Mr. Osterloh, formerly Project Director and Manager
of Studies for Fluor Canada, will assume technical leadership for
the continued exploration and development of FPX's Baptiste Nickel
Project at its Decar Nickel District in central British Columbia, Canada.
"We are very fortunate to have added an experienced mining
professional of Andrew's calibre to our team," commented
Martin Turenne, FPX Nickel's
President and CEO. "Andrew has a wide-ranging background in
managing technical and economic studies for a number of
high-profile, high-throughput projects for major mining companies
including Glencore, Teck, Barrick and Freeport-McMoRan. He
also has deep experience in both operating and study-oriented roles
on mines in British Columbia,
including Teck's Highland Valley Copper Mine and Imperial Metals'
Huckleberry Mine. As we move our flagship Baptiste Nickel
Project toward a preliminary feasibility study, Andrew will play a
critical role in guiding all project activities to a high technical
standard."
Mr. Osterloh has over 20 years' mining industry experience in
process engineering, plant metallurgy and project management.
In his project management roles for Fluor Canada, he led
feasibility study work for several large base metal assets in the
Americas, including Glencore's NorthMet copper-nickel project in
Minnesota, Freeport-McMoRan's
Lone Star copper project in
Arizona, and the NuevaUnión
copper-gold joint venture in Chile
by Teck and Newmont. Mr. Osterloh's project development
successes are founded on rigorous capital efficiency, risk
mitigation, and execution certainty. Prior to joining Fluor, Mr.
Osterloh acted as Plant Metallurgist and Mill General Foreman at
Barrick Gold's Eskay Creek Mine in
northwest British Columbia, and as
Plant Metallurgist for Imperial Metals' Huckleberry Mine in central
B.C. Mr. Osterloh is a Member of the Association of
Professional Engineers of British
Columbia and holds a Bachelor of Applied Science in Mineral
Process Engineering from the University of
British Columbia.
FPX has granted 600,000 stock options to Mr. Osterloh. The stock
options have an exercise price of $0.60 per share and will expire on June 21, 2026.
About the Decar Nickel District
The Company's Decar Nickel District claims cover 245
km2 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
(Ni3Fe), 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 $24 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
metres 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 rock exposure was very poor prior to
more recent logging activity.
As reported in the current NI 43-101 resource estimate, having
an effective date of September 9,
2020, the Baptiste Deposit contains 1.996 billion tonnes of
indicated resources at an average grade of 0.122% DTR nickel,
containing 2.4 million tonnes of nickel, plus 593 million tonnes of
inferred resources with an average grade of 0.114% DTR nickel,
containing 0.7 million tonnes of 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.
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 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.