FPX Nickel Corp (TSX-V:FPX) said that it has confirmed the continuation of a new nickel discovery at the Van target on its Decar nickel project in central British Columbia.
Drill results from the final three holes in the 2021 program revealed the continued near-surface lateral extension of the discovery, according to a statement from the company.
FPX told shareholders that the results complement the first four discovery holes, meaning the first seven Van holes define a zone of strong awaruite nickel mineralization approximately 400 to 750 meters wide and up to 750 meters long, to downhole depths of up to 350 meters.
READ: FPX Nickel drills one of the highest-grading, near surface intervals in the history of the Decar nickel district at the Van target
One drill hole intersected 132 meters at 0.14% DTR nickel, which FPX said is in the top 10 highest-grading, near-surface intervals drilled at Decar.
The mineralized footprint remains open for expansion to the south and west, and potentially at depth beyond the initial 2.5 square kilometer target area.
FPX believes the target could host a large-scale, standalone nickel deposit similar to the one already delineated at the nearby Baptiste deposit.
FPX CEO Martin Turenne told investors that Van has strong potential to host a higher-grade, near-surface resource than that found at Baptiste, where the majority of higher-grade mineralization occurs at depth.
"We are very pleased with this final batch of drill results from the maiden drilling program at Van, with the first seven holes all returning broad intervals of strong awaruite nickel mineralization,” Turenne said.
Chairman, Peter Bradshaw, said that the results of the first seven holes at Van have “exceeded expectations” and confirmed Van as a major new discovery for the nickel industry.
“Having confirmed that the strong mineralization in previously reported outcrop samples continues to depth, we now look forward to additional drilling in 2022 to expand the mineralization to the south and the west of the 2021 holes, with a view of generating an initial mineral resource estimate for the deposit."
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas