Porcupine Property Expanded and Diamond Drilling Permit Received Porcupine Base Metal – Precious Metal – REE Property Central New Brunswick
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DATE January 19, 2018 News Release
Porcupine Property Expanded and Diamond Drilling Permit Received
Porcupine Base Metal – Precious Metal – REE Property Central New
Brunswick
Vancouver, British Columbia : Fort St. J ames Nickel Corp. (TSXV.FTJ.H) (“ FTJ” or “ The
Company”) is pleased to announce that a diamond drilling permit has been received for its
Porcupine Base Metal - Precious Metal - Rare Earth Element (REE) Property, located in central
New Brunswick. The drilling permit is for up to 10 holes. The permit was granted by the New
Brunswick Dept. of Energy and Resource Development to Great Atlantic Resources Corp., the
Company’s option partner and operator on the Porcupine Property . Drilling is planned in the
spring of 2018, the focus being an area of zinc, lead, copper and silver mineralization. Additional
mineral claims have been staked, expanding the Porcupine Property to the north to cover an
area of reported lead mineralization associated with Ordovician volcanic rocks.
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The Porcupine Property occurs within the Miramichi terrane which trends northeast -southwest
through New Brunswick. The Miramichi terrane hosts numerous volcanogenic massive sulfide
deposits in northeast New Brunswick in the famous Bathurst Camp . Many of these deposits
were mined, including the historic Heath Steele mine, located approximately 40km northeast of
the Porcupine Property. Volcanic rocks are reported locally within the Porcupine Property.
Lead, zinc, copper and silver mineralization occurs in both boulders and bedrock in the central
region of the Porcupine Property. Great Atlantic Resources Corp. discovered a mineralized zone
in a trench (Line 4W Trench) in this region during 2012. A one meter channel sample across this
zone returned 5.48% zinc and 1.08% lead. This zone was reported to be within sheared volcanic
rocks. A qualified person has not verified this data as the sample location is no longer evident in
the trench. A qualified person has verified lead, zinc and copper sulfide mi neralization in
stringers / veins in altered and sheared volcanic rocks within th is approximately 25m long east -
west trench. Great Atlantic collected grab samples of mineralized boulders during 2012 from
another trench (Line 3W Trench) , located 50 metres e ast of the Line 4W Trench . One grab
sample returned 20.7% lead, 6.89% zinc, 2.04% copper and 122 grams / tonne (g/t) silver. A
qualified person has not verified these boulders / data as the trench has been reclaimed. The
2012 trench samples and lab inserted blank, duplicate and standard samples were analyzed by
Activation Laboratories Ltd. (Ancaster, Ontario) by Instrumental Neutron Activation Analysis
(INAA) and Four Acid Inductively Coupled Plasma – Optical Emission Spectrometry ( ICP-OES).
(Activation Laboratories is independent of FTJ and Great Atlantic Resources Corp).
Planned diamond drilling in 2018 will focus on the central region of the property in the area of
the Line 3W and Line 4W Trenches including the area in the reported up-ice direction.
2012 Line 4W Trench (channel sample of 5.48% Zn & 1.08% Pb / 1m)
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Lead and zinc sulfide mineralization in Line 4W Trench
Soil geochemical anomalies are reported locally in the southern region of the property including
cobalt, lead, tungsten and REE anomalies. A qualified person has verified th e soil geochemical
data. A qualified person managed the 2015 soil geochemical survey and verified associated data
including sample locations and a nalytical data. The 2015 soil samples (and lab inserted blank,
standard and duplicate samples) were analyzed by ALS Minerals in Sudbury , Ontario by Fire
Assay – Atomic Absorption (AA) for gold and for 33 elements by four acid – Inductively Coupled
Plasma – Atomic Emission Spectroscopy (ICP -AES). T he sources of these anomalies have not
been located. The Company is planning additional work in this region during 2018 to establish
drill targets. ALS Minerals is independent of FTJ and Great Atlantic Resources Corp.
The Porcupine Property has been recently expanded further north through staking of additional
claims. The new claims cover an are a of reported lead sulfide mineralization (galena), reported
to occur at the contact of Or dovician felsic volcanic rocks and interbedded sedimentary rocks
(source: New Brunswick Department of Energy and Resource Development Mineral Occurrence
Database). A qualified person has not verified this reported mineralization due to winter
conditions. The property currently covers an area of approximately 2,830 hectares.
The Porcupine Property is located in central New Brunswick approximately 50 kilometres west
of the city of Miramichi. Access is excellent with logging roads transecting the property.
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David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical
information contained in this News Release. Mr. Martin is the consultant for Fort St. James
Nickel Corp. and VP Exploration for Great Atlantic Resources Corp.
ON BEHALF OF THE BOARD
Barry Brown,
President
Fort St. James Nickel Corp.: 604-488-3900
This News Release may contain forward -looking statements including but not limited to comments regarding the
acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such
statements and FTJ undertakes no obligation to update such statements, except as required by law. There can be no
assurance that the Transaction will be successful.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts
about the business and the industry and markets in which the Company operates, including that: the current price of
and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able
to obtain required exploration licences and other permits; general business and economic conditions will not change
in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will
not experience any material accident; and the Company will be able to identify and acquire additional mineral
interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and
involve risks, uncertainties and assumptions which are difficult to predict. In particular, there is no guarantee that
exploration work, as proposed, or otherwise, will be completed on the Property. Investors are cautioned that all
forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a
speculative business; that environmental laws and regulations may become more onerous; that the Company may not
be able to raise additional funds when necessary; fluctuating prices of commodities; operating hazards and risks;
competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks
and uncertainties