The Mich property is located 55 km southeast of Whitehorse and 18 km off the Alaska Highway. The port of Skagway, Alaska is 200 km to the southwest by road.
Geological mapping and rock sampling has defined a 1.3 km long northwest-southeast trending zone of disseminated awaruite mineralization at Mich. DTR nickel grades for 75 surface rock samples range from 0.046% to 0.143%. Limited trenching confirmed and extended the DTR nickel values delineated by rock sampling.
Two diamond drill holes were completed at Mich totalling 873 m. Results show broad zones of disseminated awaruite containing greater than 0.080% DTR nickel. Awaruite mineralization is hosted in serpentinized ultramafic rocks and remains open in all directions.
Visible awaruite grains range from 50 to over 300 microns. Using a cut-off grade of 0.060% DTR nickel, the mineralized zone measures a minimum of 345 m vertically from surface and is an estimated 463 m wide across the drill cross section. The mineralization remains open to the northeast, beyond the second drill hole, which terminated in 32.2 m grading 0.123% DTR nickel.
| Results from Mich diamond drilling | ||||
|---|---|---|---|---|
| Hole # | Intersections (m) | DTR Nickel (%) | ||
| From | To | Intercept | ||
| 1 | 3.0 | 258.2 | 255.2 | 0.087 |
| including | 3.0 | 159.1 | 156.1 | 0.096 |
| 2 | 2.7 | 456.3 | 453.6 | 0.087 |
| Including | 424.1 | 456.3 | 32.2 | 0.123 |
Awaruite mineralization at Mich is widespread and typically trends northwest-southeast. A phase 2 drill program has been recommended to test the strike length of interpreted awaruite mineralization to which is estimated to be greater than 2 km.
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.