Announcement Date: 2022-03-14
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: FPX Nickel Corp.
Project name: Decar
Location: Canada
Commodities: Nickel
Highlight: Drilling results incl. 317.2m @ 0.135% Ni from 33.8m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, March 14, 2022 – FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (“FPX” or the “Company”) is pleased to announce results of the summer 2021 infill drilling program at the Baptiste Project (the “Project”) at the Company’s 100%-owned Decar Nickel District (the “District”) in central British Columbia. These results are highlighted by hole 21BAP073, which returned the third-highest grading broad interval of near-surface nickel mineralization in the Project’s history. The 2021 Baptiste drilling campaign was designed to convert near-surface inferred resources to the indicated classification to support an eventual Baptiste preliminary feasibility study. The mine plan from the NI 43-101 2020 Preliminary Economic Assessment (“2020 PEA”) envisaged the mining of a total of approximately 1.5 billion tonnes of indicated and inferred material averaging 0.120% Davis Tube magnetically recoverable (“DTR”) nickel over the Project’s 35-year mine life, with approximately 89% of this mineralization classified in the indicated category and 11% in the inferred category.
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