| Announcement Date: | 2022-11-14 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | FPX Nickel Corp. |
| Project name: | Decar |
| Location: | Canada |
| Commodities: | Nickel,Iron,Cobalt |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, November 14, 2022 – FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (“FPX” or the “Company”) is pleased to report an updated mineral resource estimate for the Baptiste Nickel Project (“Baptiste” or the “Project”) at the Decar Nickel District (“Decar”) in central British Columbia. The 2022 mineral resource estimate incorporates results from 2021’s in-fill drilling program and is based on a new geological modelling approach and newly improved dike model, all of which contribute to significantly improved Davis Tube Recoverable (“DTR”) nickel grades. The 2022 mineral resource estimate also reports, for the first time, the content of total nickel and potential by-product elements, cobalt and iron. totaling 2,856 metres, bringing total resource drilling to-date to 99 holes, totaling 33,695 metres. As previously reported, the 2021 Baptiste resource drilling program targeted the conversion of near-surface, higher-grade inferred resources to the indicated category. The new modelling approach includes defined geological sub-domaining, grade shell modelling and more accurate modelling of dilutive dikes; collectively better representing the scale and characteristics of the Baptiste deposit. This compares to the previous approach applied in the 2020 Preliminary Economic Assessment (“PEA”) which solely used lithology domains and an assumed 3% removal of rock mass to account for waste or dike sections within the deposit. |
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