FPX Nickel Re-initiates Exploration at the Mich Property in the Yukon
Suite 320 – 1155 West Pender Street
Vancouver, BC Canada V6E 2P4
Tel: 604.681.8600
e-mail: [email protected]
FPX Nickel Re-initiates Exploration at the Mich Property in the
Yukon
Vancouver, June 10, 2024 – FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (“FPX” or the
“Company”) is pleased to announce the re -initiation of exploration activities at the Company’s Mich
property (“Mich”), located 50 km southeast of Whitehorse in the Yukon . The Company has recently
expanded its claims at Mich by over 350% and will conduct a wide-ranging surface sampling program over
the summer of 2024 with the goal of advancing Mich to drill-ready status.
Highlights
• FPX has staked approximately 68 km2 of new ground contiguous to the existing Mich claims
package, bringing the total claimed area at Mich to 87 km2
• FPX has will conduct geological mapping and surface sampling, aiming to expand the footprint
of known awaruite nickel mineralization, from where previous sampling and drilling has
generated positive results
• FPX has been awarded a non-repayable grant under the Yukon Mineral Exploration Program
which will be used to offset program costs.
“On the basis of our historical work at Mich , augmented by our advanced understanding of awaruite
mineralization and mineral processing advantages, we are excited to undertake a new exploration campaign
at the expanded Mich claim package ,” commented Andrew Osterloh , FPX’s Senior Vice -President of
Projects and Operations . “The initial drill program at Mich in 2014 identified long intercept s of near-
surface awaruite mineralization similar to those at our flagship Baptiste Nickel Project. We look forward
to further defining the geological potential at Mich in preparation for a future drill program.”
Through staking, FPX has expanded the Mich claims package by approximately 68 km2, bringing the total
Mich claims package to approximately 87 km2, as shown in Figure 1. The Mich claims are underlain by
serpentinized ultramafic rocks of the Cache Creek Terrane, the same belt of rocks that host the awaruite
mineralization at FPX’s flagship Baptiste Nickel Project (“ Baptiste”) in central British Columbia. The
Mich property is located 50 km southeast of Whitehorse, just 18 km off the Alaska Highway . The Mich
mineral claims are located on the territories of the Ta'an Kwach'an Council, the Kwanlin Dun First Nation,
and the Carcross/Tagish First Nation.
Figure 1 – Expanded Claims Package for the Mich Project in Yukon
Historical work at Mich includes field mapping and surface sampling in 2011-13 which defined a 1.3 km
long northwest -southeast trending zone of disseminated awaruite mineralization with surface sample s
ranging from below 0.02% to 0.143% Davis Tube Recoverable (“DTR”) nickel. An initial two-hole drill
program, both drilled from the same collar location in 2014 , identified long intercepts of near -surface
awaruite mineralization, including 0.087% DTR nickel over 454 metres. Mineralization remains open in
all directions.
A renewed exploration program will be conducted over the summer of 2024 to further refine and expand
the footprint of known mineralization at Mich. Grid-based rock sampling will cover areas of previously
identified mineralization and aim to expand the mineralized footprint to the southeast. All samples will be
analyzed for total and DTR nickel content. Results from both historical and 2024 work will be synthesized
to refine FPX’s geological interpretation at Mich and will allow for detailed planning of a future drill
program.
FPX has been awarded a non -repayable grant of $ 38,000 by the Yukon Mineral Exploration Program
(“YMEP”) to partially support 2024 field activities.
Keith Patterson, P.Geo., FPX’s Vice President, Generative Exploration, FPX’s Qualified Person under NI
43-101, has reviewed and approved the scientific and technical content of this news release.
About the Decar Nickel District
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 (Ni 3Fe) 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 $30 million has been spent on the exploration and development of Baptiste.
The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded
territories of the Tl’azt’en Nation and Binche Whut’en, and within several Tl’azt’enne and Binche
Whut’enne keyohs. FPX has conducted mineral exploration ac tivities 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 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
https://fpxnickel.com/ or contact Martin Turenne, President and CEO, at (604) 681 -8600 or
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 u ncertainties, 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.