VANCOUVER, BC, March 5,
2024 /CNW/ - FPX Nickel Corp. (TSXV: FPX) (OTCQB:
FPOCF) ("FPX" or the "Company") is pleased to
outline plans for advancement of the Baptiste Nickel Project
("Baptiste" or the "Project") in 2024. Building on
the completion of the robust 2023 preliminary feasibility study
("PFS"), the Company's strategy is designed to prioritize
critical path activities in preparation for entry into the
Provincial and Federal environmental assessment ("EA") in
the first quarter of 2025.
Highlights
- Critical readiness activities for the EA are focused on
three key areas:
- Collaboration with Indigenous communities: Achieved
through building of relationships and progression towards
establishment of EA agreements with potential participating
Indigenous communities. This will include enshrining protocols for
collaborative decision-making and consent-based processes with each
community.
- Cultural and environmental baseline studies: FPX is
committed to an Indigenous-led baseline program, and the Company's
ongoing and expanded program will continue to build the
comprehensive dataset required for the EA process and engineering
studies.
- Engineering studies and feasibility readiness: Through
desktop and laboratory programs, the Company will continue to
refine key Project elements, readying the project for the EA and
feasibility study processes.
"FPX is focused on prioritizing and advancing the key
workstreams to successfully enter the EA process, which sits along
the critical path for the overall development of the Baptiste
Nickel Project," commented Martin
Turenne, FPX's President and CEO. "We are committed to
executing project development activities in partnership with
Indigenous communities in the Project area and look forward to
supporting the development of Canada's critical minerals ecosystem in
keeping with our core values of safety, respect, and
collaboration."
Collaboration with Indigenous Communities
In 2024, the Company will work to establish EA agreements with
all potential participating Indigenous communities. FPX is
committed to building relationships with Indigenous communities
early and through inclusive processes, to providing resources to
enable engagement and collaborative decision-making, to enabling
Indigenous communities to advance self-determined goals, and to
optimizing long-term sustainable benefits and opportunities
connected to the Project.
FPX will continue collaborative Project design in advance of the
EA process, building on a series of mine design workshops initiated
in 2023. Initial discussions in these workshops have focused on
community values and preliminary learnings from Indigenous-led
environmental baseline studies and have emphasized the importance
of respect and protection of the environment.
A collaborative decision-making process with Indigenous
communities is planned in 2024 to determine key aspects of mine
design including tailings facility location and powerline routing,
in advance of entering the EA process. Agreements with Indigenous
communities are a priority for the Company in 2024 as they will be
a mechanism to formalize these commitments and initiatives.
Cultural and Environmental Baseline Studies
Cultural and environmental baseline studies have been ongoing
for the Baptiste Nickel Project since early 2022 and include
surface water hydrology and water quality, wildlife, vegetation,
fisheries and aquatics, and archeology programs. Ongoing and
expanded 2024 programs have been scoped in preparation for the EA
process. The 2024 field program will include an expansion of
activities in the Project area, and commencement of studies focused
on linear infrastructure, including the Project access road and
powerline corridors.
FPX is committed to the ongoing execution of an Indigenous-led
cultural and environmental baseline program. To achieve this, the
Company has prioritized engagement of Indigenous-owned businesses
and partnerships, such as Shas-Ti Environmental LP and Sasuchan
Environmental LP, to ensure integration of Indigenous perspectives
into the scoping and execution of these studies.
"The environmental consulting group Ecofor and the community of
Binche have a long history of working together and in 2022 this was
formalized by the establishment of Shas-Ti Environmental, a
partnership undertaking the Indigenous-led baseline studies and
training of community members for the Baptiste Nickel Project,"
commented Dwayne Martin, Community
Liaison Manager for Shas-Ti Environmental. "A Dakelh phrase that
guides our approach to collaboration is Alhgoh 'uts'ut'en,
meaning we all work together. We are extremely proud of the
work we are doing and that FPX is committed to this philosophy of
working together."
Project Design & Engineering
Following completion of the PFS in October 2023, the Company conducted a
comprehensive planning exercise to define the path forward for
Baptiste through project development and into production, and to
ensure the Company will enter the EA process with the level of
engineering definition necessary to de-risk the overall Project
timeline. In 2024, engineering work will be centered on
metallurgical testing and value engineering activities.
Metallurgy
The PFS was robustly supported by an extensive metallurgical
testwork program which included extensive bench and multiple
pilot-scale testwork programs. The Company has now commenced the
feasibility study ("FS") metallurgical program, which is
focused on refining select elements of the flowsheet while also
completing the typical testwork elements required to support FS
detailing.
The FS metallurgical program commenced with pilot-scale testing
of the concentrator flowsheet to (a) refine select elements of the
Baptiste concentrator flowsheet, and (b) produce sufficient
awaruite concentrate to support larger-scale testwork of the
downstream refinery flowsheet. The concentrator pilot-scale
testwork program is nearing completion, and results along with the
confirmed plan for refinery testwork for the production of
battery-grade nickel sulphate will be presented in April 2024. Both of these programs are being
funded in part by a non-repayable grant from the federal government
of Canada under the Critical
Minerals Research, Development, and Demonstration ("CMRDD")
program.
Other elements of the FS testwork program in 2024 include the
types of typical and routine testwork required to support FS
detailing, including bulk material handling characterization,
solid-liquid separation, comminution variability, briquetting, and
flotation tailings leach optimization testwork. Additionally, the
Company will evaluate the potential opportunities which were
presented in the PFS, such as nickel sulphide flotation and
upgrading of a potential iron ore concentrate. The FS testwork
program is expected to run through to 2025, and material findings
will be sequentially released when completed.
Value Engineering
Building on the technical and commercial viability demonstrated
in the PFS, the Company has commenced a value engineering program
which looks to further improve project value, and also provide
suitable layout and execution certainty ahead of the EA process. To
this effect, concurrent value engineering studies are focusing on
optimization of the following areas: process plant design, overall
site layout, carbon intensity, and linear infrastructure (access
road and powerline).
The value engineering exercise has identified several potential
improvements to the conceptual Project design; the Company will
report the full results of the value engineering program in the
second quarter of 2024. Technically and economically feasible
alternatives that are identified through value engineering will be
further evaluated through collaboration with Indigenous
communities, as described above.
Feasibility Study Planning
The Company will also progress scoping and planning for the 2025
field season, which will focus on data collection to support the
feasibility study, including geotechnical investigations, continued
environmental baseline data collection, and resource drilling.
Andrew Osterloh, P.Eng., FPX's
Senior Vice President, Projects & Operations, FPX's Qualified
Person under NI 43-101, has reviewed and approved the scientific
and technical content of this news release.
About the Decar Nickel
District
The Company's Baptiste Nickel Project represents a large-scale
greenfield discovery of nickel mineralization in the form of a
sulphur-free, nickel-iron mineral called awaruite
(Ni3Fe) hosted in an ultramafic/ophiolite complex. The
Baptiste mineral claims cover an area of 245 km2 west of
Middle River and north of
Trembleur Lake, in central British
Columbia. In addition to the Baptiste Deposit
itself, awaruite mineralization has been confirmed through
drilling at several target areas within the same claims package,
most notably at the Van Target which is located 6 km to the north
of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and
development of Baptiste.
The Baptiste Deposit is located within the Baptiste Creek
watershed, on the traditional and unceded territories of the
Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne
and Binche Whut'enne keyohs. FPX has conducted mineral exploration
activities to date subject to the conditions of agreements with
First Nations and keyoh holders.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development
of the Decar Nickel District, located in central British Columbia, and other occurrences of the
same unique style of naturally occurring nickel-iron alloy
mineralization known as awaruite. For more information, please view
the Company's website at www.fpxnickel.com.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and
Director
Forward-Looking
Statements
Certain of the statements made and information contained
herein is considered "forward-looking information" 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's 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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
SOURCE FPX Nickel Corp.