VANCOUVER, BC, June 27,
2023 /CNW/ - FPX Nickel Corp. (TSXV: FPX)
(OTCQB: FPOCF) ("FPX" or the "Company") is pleased to
announce completion of the preliminary feasibility study
("PFS") metallurgical testwork campaign with key results
supporting the updated concentrator flowsheet and providing a
materially improved understanding of the process characteristics of
the Baptiste Nickel Project ("Baptiste" or the
"Project"). The robust testwork campaign involved
multiple bench- and pilot-scale programs, with the resultantly
improved process design basis increasing the Davis tube recoverable
("DTR") nickel recovery by 4% in comparison to the recovery
assumed in the 2020 preliminary economic assessment
("PEA").
Highlights
- PFS testwork program is complete and results will be fully
incorporated into the PFS expected in September 2023
- The updated concentrator flowsheet increases DTR nickel
recovery by approximately 4% to 88.7%, in comparison to the 84.7%
DTR nickel recovery assumed in the 2020 PEA
- DTR nickel is further validated as a geometallurgical screening
tool which heightens confidence in the PFS projected metallurgical
recovery and resultant metal production profile
"Our completed metallurgical testwork campaign has further
optimized the process flowsheet and improved the recovery basis for
the Baptiste PFS, which remains on schedule for delivery in
September 2023," commented
Andrew Osterloh, FPX Nickel's Senior
Vice-President, Projects & Operations. "The scale and depth of
our testwork is more analogous with feasibility study-level
testwork and reflects FPX's commitment to the development of this
new, yet simple and robust, metallurgical process. These results
further validate awaruite's processing advantages to produce a
unique, high-grade product with unparalleled flexibility to feed
into the stainless steel or battery material supply chains."
FPX has recently completed the PFS metallurgical testwork
campaign, with objectives and key results from each campaign phase
presented in Table 1. The overall objectives of the program were to
validate and improve the PEA process design basis, provide a
robust dataset to support process and engineering optimization
for the PFS, and to confirm the consistent metallurgical response
of the very large Baptiste deposit. For further information on each
of the testwork phases, see the referenced FPX news releases
in Table 1.
Table 1 – PFS Metallurgical Testwork Program Summary
Phase
|
Objective
|
Key
Results
|
FPX News
Release Date
|
1
|
Pilot-scale testwork to
confirm PEA
magnetic separation basis using life-
of-mine composite.
|
Magnetic separation
configuration
validated, and results indicated potential
benefit to preferential grinding.
Sufficient feedstock
generated for Phase 2
flotation program.
|
December 8,
2021
|
Bench- and pilot-scale
grindability
testwork to expand comminution and
grinding parameter databases.
|
PFS-level comminution
database
generated to support engineering
optimization studies.
|
2
|
Bench-scale testwork to
confirm
nickel mineralogy across Baptiste
resource.
|
Confirmed consistency
of resource
mineralization and validated DTR nickel
as a geometallurgical screening tool.
|
July 27,
2022
|
Bench-scale testwork to
confirm
the PEA conclusion that froth flotation
can generate high grade nickel
concentrate.
|
Flotation configuration
and results
validated, through the generation of a
high-grade nickel concentrate (> 60%
nickel) with strong locked cycle recovery.
|
3a
|
Large-scale pilot
testing to further
demonstrate the recovery benefits
observed in Phase 1, and to generate
sufficient feedstock for Phase 3c
testwork.
|
Further validation of
flowsheet,
confirmation of preferential grinding
benefit, confirmation of magnetic
separation intensity benefit, and generation
of sufficient feedstock for Phase 3c.
|
January 24,
2023
|
3b
|
Variability testing to
confirm the
homogeneity of the Baptiste resource
and further validate DTR nickel as a
geometallurgical screening tool.
|
Consistent magnetic
separation recoveries
achieved across all phases of the Baptiste
mine plan, validating resource
homogeneity and DTR nickel as a
geometallurgical screening tool.
|
May 3, 2023
|
3c
|
Hydrometallurgical
testing to
optimize previous leach testing, and
conduct purification and nickel
sulphate crystallization testwork.
|
Optimization of
leaching resulting in
reduced reagent consumptions and
simplification of downstream purification
requirements.
Production of
battery-grade nickel sulphate
and cobalt precipitate products.
|
May 17, 2023
|
While the overall PEA processing strategy has remained
consistent and takes advantage of awaruite's unique
characteristics, unit operations in the concentrator flowsheet have
now been refined and are presented in Figure 1.
Based on the optimized flowsheet and the subsequent PFS design,
the estimated life of mine recovery for the PFS is summarized in
Table 2. The table also highlights key circuit design changes
relative to the PEA, as follows:
- The PFS design has split cleaning magnetic separation into two
stages, cleaning and recleaning, as an engineering optimization to
maximum grinding energy efficiency with no significant impact on
nickel recovery
- A flotation tails treatment section, combining the leaching of
flotation tailings and the recovery of dissolved nickel, has also
been added to the PFS design; this leaching stage accounts for
approximately 6.5 percent of the overall DTR nickel recovery
Table 2 – Life of Mine DTR Nickel Recovery – PEA vs.
PFS
Recovery
|
DTR Nickel Recovery
(%)
|
PEA
|
PFS
|
By
Processing
Stage
|
Roughing Magnetic
Separation
|
90.1
|
95.0
|
Cleaning Magnetic
Separation
|
100.0
|
99.3
|
Recleaning Magnetic
Separation
|
99.7
|
Flotation
|
94.0
|
87.4
|
Flotation Tailings
Treatment
|
N/A
|
54.8
|
Overall
|
To Awaruite
Concentrate
|
84.7
|
82.2
|
To Mixed Hydroxide
Precipitate
|
N/A
|
6.5
|
Combined To Both
Nickel Products
|
84.7
|
88.7
|
As seen in Table 2, based on a PFS average feed grade of 0.13%
DTR nickel, the optimized PFS flowsheet predicts an 88.7% DTR
nickel recovery for the life-of-mine, representing an increase of
4% from the PEA. On a total nickel basis, and based on PFS
mineral resource average grade of 0.21% total nickel, the optimized
PFS flowsheet achieves 54.9% total nickel recovery.
Qualified Person
Jeff Austin, P.Eng., President of
International Metallurgical and Environmental Inc. and FPX's
Qualified Person under NI 43-101, has reviewed and approved the
technical content of this news release.
About the Decar Nickel
District
The Company's Decar Nickel District represents a large-scale
greenfield discovery of nickel mineralization in the form of a
naturally occurring nickel-iron alloy called awaruite
(Ni3Fe) hosted in an ultramafic/ophiolite complex. FPX's
mineral claims cover an area of 245 km2 west of the
Middle River and north of Trembleur Lake, in central British Columbia. Awaruite mineralization has
been identified in several target areas within the ophiolite
complex including the Baptiste Deposit and the Van Target, as
confirmed by drilling, petrographic examination, electron probe
analyses and outcrop sampling. Since 2010, approximately US
$28 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 focus of increasing resource definition (a
total of 99 holes and 33,700 m of
drilling completed), as well as environmental and engineering
studies to evaluate its potential as a bulk-tonnage open pit mining
project. The Baptiste Deposit is located within the Baptiste Creek
watershed, on the traditional and unceded territory of
Tl'azt'en Nation and Binche Whut'en First Nation, and within
several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted
mineral exploration activities to date subject to the conditions of
our agreements with the 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 or contact
Martin Turenne, President and CEO,
at (604) 681-8600 or ceo@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.