Fort St. James Nickel Announces Management Changes
#1515 - 700 West Pender Street, Vancouver, British Columbia V6C 1G8
FOR IMMEDIATE RELEASE TSX-V: FTJ
Fort St. James Nickel Announces Management Changes
Vancouver, British Columbia – December 4, 2014 – Fort St. James Nickel Corp. (the “Company”) announces that Sandy MacDougall has stepped down as President, CEO and director of the Company. Effective today, Murray Swales, the Company’s CFO, has been appointed as Interim President and CEO.
The Company would like to thank Mr. MacDougall for his years of service and his significant work he has dedicated to the Company. The Board of Director’s wishes Mr. MacDougall success in his future endeavors.
About Fort St. James Nickel Corp.
Fort St. James Nickel Corp. is continuing to pursue partners and strategic investors for the development of its 100% owned Kilometer 26 Nickel Project. Dialogue with a number of potential groups is ongoing.
The Kilometer 26 Project is a “new concept” nickel project. This project proposes an innovative new mine deposit model which would apply the well-established technologies of open pit copper (sulfide) mining to a deposit which is nickel (sulfide) dominant but which possesses similar gross in situ metal values. Kilometer 26 is predicated on a model which would exploit a very large surface mineable quantity of lower grade nickel sulfide mineralized rock to produce a large quantity of nickel sulfide concentrate at a conceptually competitive price. Kilometer 26 is located approximately 50 kilometers northwest of the community of Fort St. James in central British Columbia, approximately 21/2 hours by vehicle from the regional centre of Prince George, BC. The property consists of twenty-eight claims totaling 12,479 hectares (30,836 acres) with most claims having sufficient assessment work credits to hold the claims until 2017 (extendable beyond 2017 with additional work). The entire claim group occupies a gentle to undulating landscape on government land.
The Kilometer 26 target is a 7,000 meter long north south trending magnetic and “IP” chargeable feature extending to the west for ±600 meters. The area of the anomalous feature is low lying and completely overburden covered and was tested in 2011and 2012 with six diamond drill holes. All the holes, spaced an average of 400 meters apart, intersected nickel mineralized ultramafic rock from their bedrock interface to their bottom. Five of the six hole returned total nickel values in excess of 0.20% over their full lengths with preliminary metallurgical work indicating that greater than 65% of the nickel in the higher grade intervals is in the form of extractable nickel sulfide (±0.15% Ni) which would predictably report to a very high grade nickel sulfide concentrate which would contain 35% to 40% nickel.
J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for the technical component of this news release.
For further information, please contact:
Head Office: Tel. 604-662-8186 Murray Swales Fax 604-662-8170 President and Chief Executive Officer www.fortstjamesnickel.com
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Fort St James Nickel Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Fort St James management on the date the statements are made. Except as required by law, Fort St James Nickel Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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