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FPX Nickel Corp.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 620 – 1155 West Pender Street
Vancouver, BC
Canada V6E 2P4
Tel No.: 604-681-8600 ext. 234
Web Site: www.fpxnickel.com
E-mail: info@fpxnickel.com
Contact Person: Martin Turenne
Position: President & CEO


Company Data

Traded Market: TSX-V
Traded Symbol: FPX
Outstanding Shares: 163.3 million
Public Float: ~70 million
52 Week High: $ 0.44
52 Week Low: $ 0.11
Present Price: Click Here


Introduction

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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.


FLAGSHIP PROJECT

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)

  • Over 31,000 metres drilled
  • Life of Mine (LOM) average head grade 0.118% DTR Ni
  • Southeast Zone expanded in 2017 drilling

Sid Target

  • 2 holes drilled, 320 metres apart
  • 282 metres of 0.143% Ni in alloy
  • 163 metres of 0.126% Ni in alloy
  • Open along strike and at depth

B Target

  • 1 hole drilled, 1.7 km from Sid
  • 263 metres of 0.132% DTR Ni
  • Open along strike and at depth

Van Target

  • Drill-ready target
  • Surface samples up to 0.16% DTR Ni
  • Exploration target ~3 sq. km

Baptiste Deposit – Highlights of March 2013 PEA Economic Results

  • Pre-Tax NPV (8%): C$ 1,125 million
  • Pre-Tax IRR: 15.7%
  • Post-Tax NPV (8%): C$ 579 million
  • Post-Tax IRR: 12.8%
  • Cash Operating Cost: C$ 3.24/lb Ni

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

  • Large Resource, Long Mine Life
    • Projected to be among world's 10 largest nickel mines by annual output
    • 24-year mine life with significant expansion potential
  • Excellent Location
    • British Columbia rated 2nd most attractive mining jurisdiction in world by Mining Journal (2017)
    • Decar located 80 km west of Mt. Milligan mine (first production 2013) in BC
    • Close proximity to power and rail
  • Excellent Local Relationships
    • Signed MOU and strong relationship with Tl'azt'en First Nation
    • Local community involvement and support for the project
  • Low Projected Costs
    • Potential for lowest quartile operating costs (2013 PEA: US$3.13/lb (C$3.23/lb))
    • Low capital intensity compared to recent global nickel mines
  • Modest Environmental Footprint
    • Non acid-generating host rock
    • No toxic heavy-metal leaching
    • Benign tailings with significant potential for CO2 capture
  • High-Value, Strategic Nickel Product
    • High-grade nickel product (63-65% Ni) with low impurities
    • Suited for direct feed to stainless steel or for Electric Vehicle (EV) battery market
  • Conventional Mining & Processing
    • Bulk-tonnage, open-pit mining with low strip ratio (0.17:1 life-of-mine)
    • Magnetic separation followed by flotation recovery
    • Production of high-grade Ni product and by-product iron concentrate
  • Opportunity for Innovation
    • Ongoing university research to assess potential of Decar tailings for sequestration of CO2
    • According to Dr. Ian Power (Professor, Trent University), “the Baptiste deposit offers a tremendous opportunity for developing a carbon-neutral mine.”


Management

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


News Update

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.


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