The Klow Property is located 120 km northwest of Fort St. James and 55 km north of the Baptiste Nickel Project. An all-season public road runs along the eastern margin of the Klow property, linking the town of Fort St. James to the village of Takla Landing.

Field mapping and rock sampling has delineated a broad zone of awaruite mineralization measuring approximately 1,500 m by 1,000 m. 134 rock samples were collected and returned nickel-in-alloy grades of 0.076% to 0.085%. Within this anomalous zone there is a north-south trending coarse-grained awaruite zone with approximately 1,000 m strike length. This coarse-grained mineralization was the focus of a 5 drillhole program completed in 2012 which totaled 1,579 m.

This widely spaced drill program tested 530 m along strike within the central coarse-grained awaruite target. Drillholes DH-4 and DH-5 were successful in intercepting significant nickel-in-alloy values, the best of which returned 316 m grading 0.100% nickel-in-alloy. Note that reported drill results were obtained from geochemical analyses and may be greater than magnetically recoverable nickel (DTR) in zones of finer grained awaruite mineralization.

A summary of the 2012 Klow drill results is presented below.

Hole #Intersections (m)Nickel-in-alloy (%)

Nickel-in-alloy results from diamond drilling at Klow. Note that results were obtained by geochemical analysis and may not represent DTR Ni grades.

Note: Davis Tube Recoverable (DTR) nickel values refer to the portion of the total contained nickel that is recovered from a magnetically separated fraction of the sample. Nickel-in-alloy results refer to nickel recovered by a selective geochemical leach which targets only nickel contained in awaruite. While both methods measure nickel in awaruite, awaruite particle exposure and grain size respond influence each method slightly differently, therefore the final results may differ slightly.

Earn-In Agreement

The Japan Organization for Metals and Energy Security (JOGMEC) holds an option to earn a 60% interest in FPX’s Klow Project.

The key terms of the Klow Earn-in Agreement are as follows:

  • JOGMEC holds the option to earn a 60% beneficial interest in Klow by funding $1,000,000 in exploration expenditures by no later than March 31, 2026
  • Once JOGMEC has earned its 60% beneficial interest in Klow, the parties will thereafter fund exploration expenditures pro rata to their ownership interest
  • If either party’s beneficial interest in Klow is diluted below 10%, that party’s beneficial interest will be converted into a 1.5% NSR royalty over Klow, with the other party retaining a right to buy-back 1.0% of the NSR royalty for $3,500,000


Keith Patterson, P.Geo., Vice President, Generative Exploration for FPX, is a qualified person as defined by NI 43-101. Mr. Patterson has reviewed and approved the technical content of this summary.