FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) has confirmed the continued near-surface lateral extension of the significant new nickel discovery at the Van Target with final drill results in the company’s Decar Nickel District in central British Columbia.
The results from holes 21VAN-005, 21VAN-006 and 21VAN-007 complement the first four discovery holes previously reported by the company, with the first seven Van holes now defining a zone of strong awaruite nickel mineralisation approximately 400 to 750 m wide and up to 750 m long, to downhole depths of up to 350 m.
- The mineralised footprint defined by the company’s 2021 Van programme remains wide open for expansion to the south and west, and potentially at depth within and beyond the initial 2.5 sq. km target area, confirming the potential for this target to host a large-scale, standalone nickel deposit which could rival the deposit already delineated at the Baptiste Deposit
- Final set of Van holes (including 21VAN-005, 21VAN-006 and 21VAN-007) extend mineralisation by approximately 350 m west from the first two holes (21VAN-001 and 21VAN-002), with the first seven holes returning strong nickel mineralisation over broad intervals
- Hole 21VAN-005 intersected 132 m grading 0.140% DTR nickel (0.210% total nickel), starting from bedrock at 9.0 m downhole, which is one of the 10 highest-grading, near-surface intervals encountered at Decar
- The highest values in all holes start from the bedrock surface, with the three southernmost holes, returning long intervals of strong nickel mineralisation as follows:
- 21VAN-002: 260 m 0.134% DTR Ni from below a fault zone to the end of hole;
- 21VAN-003:143 m of 0.143% DTR Ni from bedrock surface; and
- 21VAN-005: 342 m of 0.128% DTR Ni from bedrock surface to the end of hole
- Nickel mineralisation at Van occurs as disseminated awaruite (nickel-iron alloy) and in the same ophiolite host rocks as at Baptiste
- The results of the first-ever Van drilling programme compare favourably with early drilling results at Baptiste, which contains 1.996 billion tonnes of indicated resources at an average grade of 0.122% DTR nickel, and 593 million tonnes of inferred resources with an average grade of 0.114% DTR nickel, both reported at a cut-off grade of 0.06% DTR nickel.
“We are very pleased with this final batch of drill results from the maiden drilling programme at Van, with the first seven holes all returning broad intervals of strong awaruite nickel mineralisation,” President and CEO, Martin Turenne, said.
“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, near-surface resource than that found at Baptiste, where the majority of higher-grade mineralisation occurs at depth.”
Chairman, Peter Bradshaw, said the results of the first seven holes at Van, drilled in the central and eastern portion of the large 2.5 sq. km target area, have exceeded the company’s expectations and confirmed Van as a major new discovery for the nickel industry.
“Having confirmed that the strong mineralisation in previously reported outcrop samples continues to depth, we now look forward to additional drilling in 2022 to expand the mineralisation to the south and the west of the 2021 holes, with a view of generating an initial mineral resource estimate for the deposit.”
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