FPX Nickel Corp.
FPX Nickel Corp. is a Vancouver-based junior nickel mining company focused on advancement of its 100%-owned large-scale Decar Nickel District in central British Columbia. Decar is one of the world’s premier development stage nickel projects.
Decar Nickel Project, Central British Columbia
The Company's Decar Nickel District claims cover 245 square kilometres of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia. Decar hosts the Preliminary Economic Assessment (PEA)-stage Baptiste deposit, which has the potential to become one of the largest nickel mines in Canada.
Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite, which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas in the Decar Nickel District, being the Baptiste Deposit, the Sid Target, the B Target, and Van Target, as confirmed by drilling in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four. Since 2010, more than $25 million has been spent on the exploration and development of Decar.
Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the main focus of diamond drilling since 2010, with a total of 82 holes and over 31,000 metres of drilling completed. The Sid Target was tested with two holes in 2010 and the B Target had a single hole drilled into it in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with Davis Tube Recoverable (DTR) nickel grades comparable to the Baptiste Deposit. The Van Target was not drill-tested at that time as rock exposure was very poor prior to logging activity by forestry companies.
Baptiste Deposit (2013 PEA)
Baptiste Deposit – Highlights of March 2013 PEA Economic Results
Baptiste Deposit Mineral Resource Estimate (2018)
As reported in a NI 43-101 resource estimate prepared on February 26, 2018, the Baptiste Deposit contains 1.843 billion tonnes of Indicated resources at an average grade of 0.123% DTR nickel, for 2.3 million tonnes of DTR nickel, and 391 million tonnes of Inferred resources with an average grade of 0.115% DTR nickel, for 0.4 million tonnes of DTR nickel, reported at a cut-off grade of 0.06%. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Decar Nickel District – Project Overview
Management and Directors
Martin Turenne, President, CEO & Director
Executive with over 17 years' experience in the commodities industry, including over 7 years in the mining industry
Former CFO of FPX Nickel
Formerly with KPMG LLP and Methanex Corporation
Chartered Professional Accountant (CPA, CA)
Chris Mitchell, CFO & Corporate Secretary
Metallurgist and business consultant with 40-plus years experience in the minerals industry, including senior executive positions with Viceroy Resources and Orvana Minerals; former CFO for Canterra Minerals, Silver Quest Resources and Independence Gold
Professional Engineer and Life Member, Association of Professional Engineers and Geoscientists of B.C.
Director, Endurance Gold, former director of Orvana Minerals and Matrix Metals (AIM)
Trevor Rabb, Consulting Geologist
Professional Geologist with over 10 years' experience in mineral exploration, including over 5 years specializing in nickel-iron alloy deposits
Formerly FPX Nickel's Senior Geologist and Vice-President Exploration
Key player in exploration discoveries for FPX Nickel's Decar, Mich, Wale and Klow properties
Peter Bradshaw, Chairman
Exploration geologist with 45 years experience with Barringer Research, Placer Dome and Orvana Minerals
Key Discoveries/projects: Porgera, Kidston, Misima, Omai, Decar
Peter Marshall, Director
Rob Pease, Director
Jim Gilbert, Director
William Myckatyn, Director
John McDonald, Director
On October 15, 2020, FPX Nickel Corp. announced that as a result of positive investor response to its previously announced private placement offering (the “Offering”) of common shares (“Common Shares”) of the Company at a price of $0.55 per Common Share (the “Issue Price”) for gross proceeds of $4,000,000 (see news releases dated October 7 and October 8, 2020), the Company has decided to further increase the size of the Offering up to a maximum of 8,963,636 Common Shares at the Issue Price, for aggregate gross proceeds of $4,930,000.
On October 08, 2020, FPX Nickel Corp. announced to increase the private placement. As a result of positive investor response to its previously announced private placement offering of 5,818,181 common shares of the company at a price of 55 cents per common share for gross proceeds of $3.2-million (see news release dated Oct. 7, 2020), FPX Nickel Corp. has decided to increase the size of the offering up to a maximum of 7,272,727 common shares at the issue price, for aggregate gross proceeds of up to $4-million.
On October 07, 2020, FPX Nickel Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $3.2-million. The offering will consist of up to 5,818,181 common shares at 55 cents per share in the capital stock of the company.
On September 30, 2020, Further to its news release dated Sept. 9, 2020, FPX Nickel Corp. announced that it has filed the associated National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report for the preliminary economic assessment (PEA) for the Baptiste project at its wholly owned Decar nickel district in central British Columbia. The Report is dated September 29, 2020 and can be found under the Company's profile at www.sedar.com. The PEA was prepared by BBA Inc. of Montreal, Canada with work on mine planning and tailings by Stantec Inc. of Vancouver, Canada.
On September 09, 2020, FPX Nickel Corp. has received positive results from the 2020 preliminary economic assessment (PEA) for the Baptiste project at its wholly owned Decar nickel district in central British Columbia. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") by BBA Inc. of Montreal, Canada with work on mine planning and tailings by Stantec Inc. of Vancouver, Canada. The PEA result with US$1.7 billion after-tax NPV, 35 years mine life, 4 year payback and C1 operating costs of US$2.74/lb Nickel.
On September 01, 2020, FPX Nickel Corp. has commenced the first-ever field tests that are designed to confirm the potential for the development of a low-carbon or zero-carbon mining operation at its Baptiste project in the Decar nickel district in central British Columbia. The field tests, initiated in August by researchers from the University of British Columbia ("UBC"), build on previous positive laboratory tests, which have demonstrated that the Baptiste Project's tailings can absorb considerable quantities of carbon dioxide ("CO2 ") when exposed to air through a natural process of mineral carbonation.
On August 17, 2020, FPX Nickel Corp. has appointed Stuart Harshaw, PEng, MBA, to the board of directors, effective immediately. Mr. Harshaw is a leading figure in the global nickel market, with over 30 years of experience in the production and marketing of nickel products worldwide, including in his roles as the vice-president of marketing and operations for Asia-Pacific and vice-president, Ontario operations, for Vale SA until 2017.