The Van Target is located 6 km north of the Baptiste deposit. Nineteen diamond drill holes have been completed at Van, totalling 5,193 m.  The first drill program in 2021 identified a large, near-surface mineralized body with comparable geology and grade to Baptiste.  A 2022 step-out program increased the footprint, with mineralization open at  depth and to the east, south, and west.

Based on the first two drilling campaigns completed to-date, the scale of nickel mineralization at Van is potentially comparable to the Baptiste deposit, which has a strike length of approximately 3 km and an average width of approximately 1 km. For a complete description of 2022’s step-out drilling program at the Van Target, see the Company’s news release dated January 4th, 2023.

FPX Nickel Van Target drill hole mapMost notable takeaways from the 18 drillholes completed at Van to date include:

  • 21VAN-001: intersected 101 m grading 0.150% DTR nickel (0.207% total nickel), starting at an approximate vertical depth of 27 m below surface
  • 21VAN-002: intersected 103 m grading 0.144% DTR nickel (0.215% total nickel), starting at an approximate vertical depth of 68 m below surface
  • 21VAN-003: intersected 143 m grading 0.143% DTR nickel (0.196% total nickel), starting at an approximate vertical depth of 48 m below surface
  • 21VAN-005: intersected 342 m of 0.128% DTR nickel (0.210% total nickel), from bedrock surface to the end of hole
  • 22VAN-010: intersected 346.3 m grading 0.133% DTR nickel (0.181% total nickel), from the start of bedrock at 51.3 m downhole to the end of hole, including 136.0 m of 0.143% DTR Nickel from 91.0 m downhole
  • 22VAN-012: intersected 334.5 m grading 0.120% DTR Nickel (0.205% total nickel), from 6.0 m downhole, including 176.0 m of 0.142% DTR Ni from 6.0 m downhole, and further including 100.0 m of 0.150% DTR Ni from 70.0 m downhole
  • 22VAN-016: intersected 9 m grading 0.127% DTR nickel (0.204% total nickel), starting at an approximate vertical depth of 9 m below surface

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.