On March 30, 2022, FPX announced the formation of CO2 Lock as a self-funded entity to pursue geoscience-related Carbon Capture and Storage (CCS) opportunities, based on six years of science performed by FPX on carbon mineralization in Brucite-Rich Serpentinized Peridotite (BRSP) deposits in the Decar Nickel District. This foundational research forms the basis for CO2 Lock’s process; CO2 Lock is developing this deposit style for stand-alone CO2 management projects.  FPX retains 100% of the carbon credits associated with CCS and a right to use, free of charge, any intellectual property developed by CO2 Lock for the benefit of FPX’s on it’s own properties.

CO2 Lock is working on two pathways to permanently mineralize CO2: CO2 storage or CO2 removal. These processes utilize BRSP deposits, accessing the abundant labile magnesium cations which when combined with CO2 to form stable carbonate minerals, permanently locking away CO2.  For ex-situ CO2 removal, the Company processes material from BRSP deposits above ground, mixes this processed material with CO2 through various means, and generates carbonate minerals at surface.  In-situ CO2 storage involves injecting CO2 rich water into BRSP deposits at depth where mineralization occurs; this process is similar to Project Orca in Iceland where a joint venture between Carbfix and Climeworks utilize basalts to permanently mineralize CO2 in-situ.

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Sam Project in Central British Columbia

The Sam project is CO2 Lock’s proposed initial location for CCS, and hosts a large serpentinized ultramafic body with many similarities to the Decar Nickel District.  Located approximately 50 kilometers southwest of Prince George, BC, the 41 km2 Sam Project was staked in 2022, and has seen preliminary exploration and site characterization work by CO2 Lock geologists. CO2 Lock is currently planning demonstration projects on ex-situ and in-situ mineralization based at Sam.

SAM Project Location Figure 1

Figure 1 – Sam project location map, showing location relative to Prince George, B.C.

CO2 Lock conducted a rock sampling program at the Sam property over two phases in 2022. The initial phase focused on reconnaissance with widespread sample coverage over mapped ultramafics. The second phase was a focused program targeting higher-grade brucite zones identified from the analytical results of the first phase and structural mapping.  A total of 115 representative chip samples and two bulk samples were collected over the claims between the two phases.  The Sam sampling program demonstrated significant brucite values over a large area, with at least 4 km x 2 km over 2.0% brucite, mineralization levels greater than those observed in surface samples at FPX’s Decar Nickel District.

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