VANCOUVER, BC, Feb. 18,
2025 /CNW/ - FPX Nickel Corp. (TSX-V: FPX)
(OTCQB: FPOCF) ("FPX" or the "Company") is
pleased to outline plans for advancement of the Baptiste Nickel
Project ("Baptiste" or "the Project") in 2025.
Following the completion of the robust 2023 preliminary feasibility
study ("PFS"), the Company's 2025 activities will build on
strong progress made in 2024, prioritizing the advancement of
further engineering studies, baseline environmental data
collection, and continued positive engagement with First Nations
and the Provincial and Federal governments in preparation for
anticipated entry into the environmental assessment ("EA")
process in the second half of 2025.
"In 2025, FPX is focused on completing the key workstreams to
initiate the EA process, which is the key critical path activity
for the overall development of the Baptiste Nickel Project,"
commented Martin Turenne, FPX's
President and CEO. "We are committed to working in partnership with
the multiple First Nations communities connected to the Project,
including the proposed mine site and associated off-site
infrastructure such as the powerline and access road. This
collaborative approach has resulted in targeting a later entry into
the EA process than originally planned, in recognition of the
desire by the Company, First Nations and the Provincial and Federal
governments to align on the scope and design of the regulatory
process in advance of initiating the EA."
Collaboration with Provincial and Federal Governments
In September 2024, FPX announced
that the Province of British
Columbia identified the Baptiste Nickel Project as the first
project to be included in the Province's new Critical Minerals
Office ("CMO") concierge service initiative, a provincial
strategy action to enable the prioritization of critical minerals
projects in B.C. The Company is pleased to report that the CMO
initiative is providing an excellent structure to proactively
identify and address issues and opportunities ahead of the
Project's entry into the EA process.
The Company has established a CMO working group with Provincial
officials; this working group meets on a regular basis, with the
CMO providing:
- Concierge service for the Baptiste Project with support
for EA readiness, funding opportunities and regulatory
processes;
- Project management support on pre-permitting and pre-regulatory
processes, including federal processes; and
- Dedicated government resources to assist in the establishment
of agreements with First Nations.
FPX has benefited from policy support from the Federal
Government through the Canadian Critical Minerals Strategy as well
as programmatic support through Natural Resources Canada's Critical
Minerals Centre of Excellence throughout 2024. The company has
begun early engagement with Federal agencies in preparation of
entering the EA process in a similar manner to that with B.C.
through the CMO.
Collaboration with Indigenous Communities
FPX is committed to building upon relationships with Indigenous
communities through inclusive processes, providing resources to
enable engagement and collaborative decision-making, empowering
Indigenous communities to advance self-determined goals, and
optimizing long-term sustainable benefits and opportunities for
communities connected to the Project.
In 2025, the Company will seek to continue to establish
agreements with all potential participating Indigenous nations,
which per the BC Environmental Assessment process, refers to all
Indigenous nations that will participate in the environmental
assessment process of a proposed project, including both on- and
off-site facilities.
FPX has initiated collaborative Project design activities with
First Nations in advance of the EA process. In 2024, the Company
supported the formation of a First Nations Working Group involving
multiple Nations to define a process for multi-lateral information
sharing and collaborative decision-making, with the objectives of
working with the Nations to assess and define the project, and to
consider socio-economic impacts and opportunities, in order to
ensure local communities can maximize benefits from the Project. In
2025, it is expected the First Nations Working Group will establish
one or more sub-tables which will enable focused reviews and
consideration of various Project parameters, such as mine design
and socio-economic considerations and opportunities.
Community Engagement
FPX established a community office in 2024 in Fort St. James, which is located approximately
90 km from the Baptiste Project. The Company hosts regular open
houses in Fort St. James which
offer the opportunity for local community members to learn about
the Company, its employees, and the Project. Open houses will
continue on a quarterly basis in 2025, as well as participation by
FPX representatives in other information-sharing opportunities with
surrounding communities.
FPX's ongoing community initiatives include the Community
Contribution Program and Student Bursary Program. The objective of
the Community Contribution Program is for FPX to make financial
contributions and donations to drive meaningful positive impact in
the communities where the Company operates. FPX's Student Bursary
Program has been established through Indspire, a Canadian
Indigenous-led charity that invests in the education of First
Nations, Inuit, and Métis individuals through scholarships,
mentorship, and community-driven programs.
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 programs were completed in 2024 in preparation for the EA
process. The 2025 program will continue to study the Project area,
and includes ongoing wildlife, climate, hydrology, water quality
and hydrogeology work.
The cultural and environmental studies for the Project are being
conducted by local Indigenous-owned and -affiliated businesses in
the Project area. This approach targets the integration of
Indigenous perspectives into the scoping and execution of these
studies and provides a strong collaborative basis for eventual
consultation activities associated with the EA process.
It is anticipated that the Company will have collected
sufficient cultural and environmental baseline data to initiate the
EA process by the second half of 2025.
Project Design & Engineering
In 2024, FPX established a variety of Feasibility Study (FS)
initiatives, including the establishment of a Technical Advisory
Committee with representatives from FPX's three strategic investors
(see the Company's April 4, 2024 news
release), the completion of a mineral processing pilot plant (see
the Company's April 30, 2024 news
release), and the completion of a comprehensive Value Engineering
program which tangibly improved both project value and definition
(see the Company's July 10 and
July 30, 2024 news
releases).
Metallurgy
The FS metallurgy program commenced in 2024, with key efforts
including completion of a confirmatory, large-scale pilot testwork
program for the concentrator, completion of pilot-scale
hydrometallurgical testwork for the off-site refinery, and
advancement of ancillary testwork programs to bolster FS design
criteria. In 2025, FPX will continue with the FS metallurgy
program, with key focus areas to include variability testwork,
flotation optimization testwork, and further ancillary testwork to
support FS definition.
Results to date from the FS metallurgy program, as previously
reported, either validate or improve on the metallurgy basis as
presented in the PFS. The FS testwork program is expected to run
through to the first half of 2026, with material findings to be
released as appropriate.
Feasibility Study Planning
In connection with the environmental and cultural baseline study
works ongoing at Baptiste since 2022, FPX will conduct the first
phase of FS engineering field investigations in the summer of 2025.
This year's program will focus on long-lead data collection that
will support the EA process, as well as improved engineering
definition within the open-pit footprint.
Approximately 2,800 m of
geomechanical drilling, hydrogeological drilling, and condemnation
drilling is planned around the Project site in 2025, with most of
the meterage focused within the open-pit footprint. The
second phase of the FS engineering field investigation program will
be undertaken in 2026 and will include resource in-fill drilling,
further geomechanical drilling, further hydrogeological drilling,
and ex-pit geotechnical drilling.
Following the completion of the second phase of engineering
field investigations, the Feasibility Study is expected to be
completed in 2027.
Andrew Osterloh, P.Eng., FPX's
Senior Vice President, Projects & Operations, FPX's Qualified
Person under NI 43-101, has reviewed and approved the technical
content of this news release.
About the Baptiste Nickel Project
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 408 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 $55 million has been
spent on the exploration and development of Baptiste.
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 Baptiste Nickel Project, 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
https://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.
