Canada's FPX Nickel Intersects 54 Metres of Nickel Mineralization in Newfoundland and Expands Exploration

en.Wedoany.com Reported - On November 9, Canada's FPX Nickel announced assay results from the first four diamond drill holes at its Advocate nickel project in Newfoundland, identifying a nickel-iron alloy mineralization core approximately 350 metres wide and 300 metres deep at the Birchy North target. Among these, hole B26-004 intersected 54 metres of mineralization starting from a depth of 29 metres, with a Davis Tube recoverable nickel grade of 0.14%. Driven by drilling results from both the Birchy North and Wolverine targets, the company has expanded the project's first-phase drilling program from 4,000 metres to over 5,000 metres.

The key results announced this time come from holes B26-001 and B26-004. Hole B26-004 intersected continuous mineralization of 279 metres starting from a depth of 5 metres, with an average DTR nickel grade of 0.11%, including a 54-metre interval from 29 to 83 metres grading 0.14%. Hole B26-001 intersected 347.5 metres of mineralization starting from a depth of 3.5 metres, with an average grade of 0.10%, including a 63-metre interval from 234 metres grading 0.13%.

The other two holes also returned nickel mineralization results. Hole B26-002 intersected 274 metres with an average DTR nickel grade of 0.07%; hole B26-003 intersected 348 metres with an average grade of 0.06%. The four holes are arranged along the same exploration section, with holes B26-001, B26-002 and B26-004 collectively delineating a higher-grade mineralization core with DTR nickel grades generally exceeding 0.10%, which remains open to the northwest.

The assays used the Davis Tube Recovery (DTR) magnetic separation test, which measures the nickel content in rock samples that can be recovered through magnetic separation. Nickel at the Advocate project occurs primarily in the nickel-iron alloy mineral awaruite, whose grain size is amenable to magnetic separation recovery. The total nickel grade for this interval in hole B26-004 is 0.21%, and the DTR nickel grade is 0.14%, representing the total nickel content of the sample and the recoverable nickel content measured by the magnetic separation test, respectively..

In addition to Birchy North, the company is also drilling at the Wolverine target. Located approximately 24 kilometres northeast of Birchy North, the target has completed 5 effective drill holes, with core observations revealing extensive nickel-iron alloy minerals in all of them. The company has expanded the drilling program in this area to up to 9 holes, totaling approximately 2,789 metres and covering approximately 1.8 kilometres of strike length.

The Birchy North target has previously completed 8 diamond drill holes totaling 2,408 metres, of which the assay results for the first 4 holes are announced this time, while assay results for the remaining 4 holes are still pending. Follow-up drilling extends along 1,250 metres of strike length, with varying degrees of nickel-iron alloy mineral mineralization observed in all drill cores.