FPX Nickel Corp. Expands Decar Nickel District, Doubling Mineral Claims at Baptiste Project
Vancouver, BC – FPX Nickel Corp. (FPX) has announced a significant expansion of its Decar Nickel District in British Columbia, nearly doubling the mineral claims package at its flagship Baptiste Nickel Project. This strategic move not only boosts the project’s geological potential but also enhances project development flexibility and streamlines regional engagement efforts.
Decar Nickel District Expansion
The company has increased the Decar claims from 245 km² to approximately 451 km², achieved through a combination of staking and acquisition. FPX staked around 188 km² of new ground bordering the northern, western, and southeastern boundaries of Decar. Additionally, they acquired 18 km² of claims adjacent to the southern boundary from a previous operator for a cash consideration of $185,000. These new claims collectively provide FPX with greater project development flexibility and the opportunity to manage the surrounding areas in an environmentally responsible manner.
Klow Project Expansion
As part of the acquisition, FPX also gained 87 km² of claims located south of its Klow project, situated approximately 50 km north of Baptiste, for a cash consideration of $50,000. These newly acquired claims possess strong geological potential for awaruite mineralization, similar to the Baptiste deposit. Previous rock sampling by a former operator yielded values of up to 0.087% Davis Tube Recoverable (DTR) nickel, with 69 out of 197 samples analyzed returning greater than 0.03% DTR Ni.
It’s important to note that FPX Nickel and Japan Organization for Metals and Energy Security (JOGMEC) have a pre-existing earn-in agreement for the Klow Project. This agreement allows JOGMEC to earn a 60% beneficial interest in Klow by funding $1,000,000 in exploration expenditures by March 31, 2026. Once JOGMEC has earned its 60% interest, both parties will share future exploration costs pro rata to their ownership interest. If either party’s interest in Klow falls below 10%, it will convert into a 1.5% NSR royalty, with the other party retaining a right to buy back 1.0% of the NSR royalty for $3,500,000.
About the Baptiste Nickel Project
The Baptiste Nickel Project is a large-scale greenfield discovery of nickel mineralization. It features a sulphur-free, nickel-iron mineral called awaruite (Ni3Fe) hosted within an ultramafic/ophiolite complex. The project encompasses a vast area of 451 km², located west of Middle River and north of Trembleur Lake in central British Columbia. Beyond the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claim package, notably the Van Target, situated 6 km north of the Baptiste Deposit. Since 2010, FPX has invested approximately US $30 million in the exploration and development of Baptiste.
The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl’azt’en Nation, Binche Whut’enne, Yekooche First Nation, and Takla Nation.
About FPX Nickel Corp.
FPX Nickel Corp. is dedicated to the exploration and development of the Decar Nickel District in central British Columbia and other occurrences of awaruite nickel-iron mineralization. For further information, please visit the company’s website at https://fpxnickel.com/.
On behalf of FPX Nickel Corp.
Martin Turenne
President, CEO and Director
