VANCOUVER, BC, Sept. 13,
2022 /CNW/ - FPX Nickel Corp. (TSXV: FPX)
(OTCQB: FPOCF) ("FPX" or the "Company") is
pleased to announce the completion of this year's Van Target
("Van") step-out drilling program at the Company's Decar
Nickel District ("Decar") in central British Columbia. This year's drilling was
focused on expansion of mineralization at Van, where an initial
drilling program in 2021 confirmed a major new discovery and
suggested the potential for Van to host a large-scale, standalone
nickel deposit which could rival the deposit already delineated at
Decar's neighboring PEA-stage Baptiste Deposit.
During this year's step-out program, a total of 2,504 metres of
drilling in ten widely-spaced diamond drill holes was completed at
Van. The completed holes stepped out aggressively from the
initial discovery area, testing the potential for nickel
mineralization up to 1 km west of the holes drilled in 2021.
This year's Van drilling program was executed safely,
on-schedule, under-budget, and with strong participation from the
local workforce and community businesses. Assays from the
program are pending, and first results are expected to be reported
by the Company in November.
In 2021, the Company executed a maiden nine-hole, 2,688 metre
drill program at the Van Target, which is located 6 km north of
Baptiste at a similar elevation, and accessible via active logging
roads. Maiden drilling at Van tested the sub-surface potential for
mineralization below and adjacent to prospective mineralized
outcrop, which had defined a target area of approximately 2.5
km2. The size of the Van Target as defined by this
outcrop sampling is comparable to the Baptiste deposit, which
measures 3 km along strike with widths of up to 1 km. For a
complete description of 2021's successful maiden exploration
drilling program at the Van Target, see the Company's news release
dated January 6th,
2022.
Erin Wilson, P. Geo., FPX
Nickel's Qualified Person under NI 43-101, has reviewed and
approved the technical content of this news release.
About the Decar Nickel
District
The Company's Decar Nickel District claims cover 245
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,
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.
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.