VANCOUVER, BC, July 18, 2022 /CNW/ - FPX Nickel Corp. (TSXV:
FPX) (OTCQB: FPOCF) ("FPX" or the "Company") is
pleased to announce that the Van Target ("Van") step-out
drilling program has started at the Company's Decar Nickel District
("Decar") in central British Columbia. This year's
drilling is 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.
Highlights
- Widely-spaced, 8-10 hole program to step-out meaningfully
south, southwest and west of 2021 discovery holes
- 2021 Van holes defined a large zone of strong awaruite nickel
mineralization approximately 400 to 750
m wide and up to 750 m long,
to downhole depths of up to 350 m,
with these results comparing favourably to the mineralized area
defined by outcrop sampling and subsequent drilling at
Baptiste
- 2022 program to follow the trend of increasing grade and
thickness to the south and west as observed in drill sections from
the 2021 program, and to test strong Davis Tube Recoverable
("DTR") nickel occurrences in outcrops to the southwest
The 2022 program at the Van Target will comprise approximately
3,000 metres of drilling over 8-10 holes, stepping out meaningfully
to the south, southwest and west of the holes drilled in 2021, as
indicated in Areas 1 and 2 of Figure 1, respectively.
Area 1, which extends up to 500 m
south of the 2021 holes, has been selected to follow the trend of
increasing grade and thickness to the south as observed in sections
drilled during the 2021 program. Area 2, which extends up to
1 km west of the 2021 holes, has been selected to similarly follow
the trend of increasing grade and thickness along strike to the
west, as well as strong DTR nickel occurrences in outcrops to the
southwest.
Figure 1: Van Target – Areas of Focus
for 2022 Drill Program
Drilling at Van is expected to occur over an approximate
six-week period and will be based on a combination of skid- and
helicopter-supported setups.
In 2021, the Company executed a maiden nine-hole, 2,688 m 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.
The three southernmost of the Van holes (21VAN-002, 21VAN-003
and 21VAN-005) returned among the 10 highest-grading,
near-surface intervals in the history of Decar, suggesting that Van
has strong potential to host a higher-grade, nearer-surface
resource than that found at Baptiste. 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
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.