{"id":11752,"date":"2024-10-29T12:52:42","date_gmt":"2024-10-29T12:52:42","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/29\/fpx-nickel-expands-land-packages-at-the-decar-nickel-district-and-klow-project-in-central-british-columbia\/"},"modified":"2024-10-29T12:52:42","modified_gmt":"2024-10-29T12:52:42","slug":"fpx-nickel-expands-land-packages-at-the-decar-nickel-district-and-klow-project-in-central-british-columbia","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/29\/fpx-nickel-expands-land-packages-at-the-decar-nickel-district-and-klow-project-in-central-british-columbia\/","title":{"rendered":"FPX Nickel Expands Land Packages at the Decar Nickel District and Klow Project in Central British Columbia"},"content":{"rendered":"
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\u00a0FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF)\u00a0(\u2018 FPX Nickel \u2018 or the \u2018 Company \u2018) is pleased to announce an expansion that almost doubles the mineral claims package at the Baptiste Nickel Project (\u2018 Baptiste \u2018 or the \u2018 Project \u2018), located within the Company\u2019s wholly-owned Decar Nickel District (\u2018 Decar \u2018). \u00a0The total area of the Decar claims package is now approximately 451 km 2 providing several benefits to the development of Baptiste, including geological potential, project development flexibility, and simplification of the regional engagement landscape.<\/p>\n

Decar Nickel District Expansion <\/p>\n

The Company has expanded the Decar claims from 245 km 2 to approximately 451\u00a0km 2 , through a combination of staking and acquisition of claims from a previous operator. <\/p>\n

FPX has staked approximately 188 km 2 of new ground adjacent to Decar, on the northern, western, and southeastern boundaries. \u00a0In addition, the Company has acquired from a previous operator a 100% interest in 18 km 2 of claims adjacent to the southern boundary of Decar, for cash consideration of $185,000 <\/span> (the \u2018 Transaction \u2018).\u00a0 These new claims collectively provide FPX with additional project development flexibility and the opportunity to manage the areas surrounding the Baptiste Nickel Project in an environmentally responsible manner. <\/p>\n

\n<\/div>\n

Klow Project Expansion <\/p>\n

As part of the Transaction, the Company also acquired, for cash consideration of $50,000 <\/span> , approximately 87 km 2 of claims adjacent to the southern boundary of FPX\u2019s Klow project (\u2018 Klow \u2018), which is located approximately 50 km north of Baptiste.\u00a0 These newly acquired claims have strong geological potential for awaruite mineralization similar in style to the Baptiste deposit. \u00a0Rock sampling by a previous operator returned values of up to 0.087% Davis Tube Recoverable (\u2018 DTR \u2018) nickel, and 69 of the 197 samples analyzed returned greater than 0.03% DTR Ni. <\/p>\n

As disclosed in the Company\u2019s April 3, 2023 <\/span> news release, FPX Nickel and Japan Organization for Metals and Energy Security (\u2018 JOGMEC \u2018) have previously entered into an earn-in agreement (the \u2018 Klow Earn-In Agreement \u2018) which provides JOGMEC the option to earn a beneficial interest in the Klow Project. <\/p>\n

The key terms of the Klow Earn-in Agreement are as follows: <\/p>\n

FPX grants to JOGMEC the option to earn a 60% beneficial interest in Klow by funding $1,000,000 <\/span> in exploration expenditures by no later than March 31, 2026 <\/span> Once JOGMEC has earned its 60% beneficial interest in Klow, the parties will thereafter fund exploration expenditures pro rata to their ownership interest If either party\u2019s beneficial interest in Klow is diluted below 10%, that party\u2019s beneficial interest will be converted into a 1.5% NSR royalty over Klow, with the other party retaining a right to buy-back 1.0% of the NSR royalty for $3,500,000 <\/span><\/p>\n

\n<\/div>\n

Keith Patterson,\u00a0P.Geo., FPX\u2019s Vice President, Generative Exploration, FPX\u2019s Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release. <\/p>\n

About the Baptiste Nickel Project <\/p>\n

The Company\u2019s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic\/ophiolite complex.\u00a0 The Baptiste mineral claims cover an area of 451 km 2 , west of Middle River <\/span> and north of Trembleur Lake, in central British Columbia.\u00a0 In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claim package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.\u00a0 Since 2010, approximately US $30 million <\/span> has been spent on the exploration and development of Baptiste. <\/p>\n

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl\u2019azt\u2019en Nation, Binche Whut\u2019enne, Yekooche First Nation, and Takla Nation <\/span> . <\/p>\n

About FPX Nickel Corp. <\/p>\n

FPX Nickel Corp.\u00a0 is focused on the exploration and development of the Decar Nickel District, located in central British Columbia <\/span> , and other occurrences of the same distinctive style of awaruite nickel-iron mineralization.\u00a0 For more information, please view the Company\u2019s website at https:\/\/fpxnickel.com\/. <\/p>\n

On behalf of FPX Nickel Corp. <\/p>\n

\u2018Martin\u00a0Turenne\u2019
Martin Turenne <\/span> , President, CEO and Director <\/p>\n

Forward-Looking Statements <\/p>\n

Certain of the statements made and information contained herein is considered \u2018forward-looking information\u2019 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\u2019s 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. <\/p>\n

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. <\/p>\n

<\/div>\n

SOURCE FPX Nickel Corp. <\/p>\n

View original content to download multimedia: http:\/\/www.newswire.ca\/en\/releases\/archive\/October2024\/29\/c3538.html <\/p>\n<\/div>\n<\/div>\n

News Provided by Canada Newswire via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a0FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF)\u00a0(\u2018 FPX Nickel \u2018 or the \u2018 Company \u2018) is pleased to announce an expansion that almost doubles the mineral claims package at the Baptiste Nickel Project (\u2018 Baptiste \u2018 or the \u2018 Project \u2018), located within the Company\u2019s wholly-owned Decar Nickel District (\u2018 Decar \u2018). \u00a0The total area […]<\/p>\n","protected":false},"author":0,"featured_media":11753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-11752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/11752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=11752"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/11752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/11753"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=11752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=11752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=11752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}