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Fort St. James Nickel work program on KM 26 Property - Returns Rock Samples up to - 0.20% Nickel and 0.086% V2O5 Vanadium

07.09.2018  |  FSCwire
Vancouver - Fort St. James Nickel Corp. (TSX.v: FTJ ) (“FTJ” or the “Company”) is pleased to announce the completion of the 2018 summer work program and receipt of rock and till sample analytical results for the KM 26 Nickel property northwest of Fort Saint James, central  British Columbia. Highlights of the sampling included three rock samples returning 2030 ppm nickel (0.203% Ni), 2020 ppm nickel (0.202% Ni) and 482 ppm vanadium (860 ppm or 0.086% V2O5). The Company intersected nickel mineralization on the property during 2011 diamond drilling including intersections of 0.21% nickel over 167 meter core length and 0.20% nickel over 157.5 meter core length in two separate holes.

“We are encouraged by these latest results and will continue to advance the KM 26 project. However, with our focus now being Eastern Canada, we are actively seeking parties whom may be interested in a joint venture opportunity.” States Barry Brown president

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The KM 26 property consists of 21 mineral claims covering a total of 5177.55 hectares of geologically prospective ground in the Omineca mining division.

The 2018 work program consisted of a rock sampling and deep auger hole till sampling. The auger till sampling program was designed to identify nickel anomalies between the 2011 diamond drill holes and / or near nickel bearing boulders. The rock sampling was conducted in areas of reported nickel bearing boulders and area of recent logging activities. 

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One highlight of the 2018 rock sampling program is a sample from two large sub-angular to angular boulders or possible subcrop of serpentinite, returning 2030 ppm nickel (0.203% Ni). Company management are not aware of any reported mineralization in this specific location. The showing is located in an area of recent logging activity. Other rock sample highlights included a serpentinite boulder sample returning 2020 ppm nickel (0.202% Ni) and a siltstone subcrop sample returning 1.21% titanium, 482 ppm vanadium (860 ppm or 0.086% V2O5) and 59 ppm scandium.

The rock and till samples were analysed at the ALS Minerals facility in North Vancouver. The rock samples were analyzed for gold by Fire Assay - AA and for 48 elements by ICP-MS. The till samples were analyzed for 53 elements by Aqua Regia super trace ICP-MS. 

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Nickel mineralization was intersected by the Company on the property during a 2011 diamond drilling program with nickel mineralization hosted in serpentinized ultramafic rock (News Release of January 31, 2012). Six drill holes were completed during the 2011 program, all intersecting nickel mineralization. Drill intersections include (core length in meters):

  • K-11-1:                        34.0 - 72.0m (38.0m):             0.22% Ni
  • K-11-1b:                      34.5 - 88.0m (53.5m):             0.21% Ni
  • K-11-2:                        33.0 - 200.0m (167.0m):         0.21% Ni
  • K-11-4:                        13.5 - 171.0m (157.5m):         0.20% Ni

The Companies main objective is to continue focusing is on its exploration activities in eastern Canada at the Porcupine base metal - precious metal - rare earth element (REE) property in central New Brunswick. 

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 a consultant for Fort St. James Nickel Corp.

ON BEHALF OF THE BOARD

“Barry Brown”

President

Fort St James Nickel Corp. 604-488-3900

Forward-Looking Statements

This news release includes certain statements that constitute “forward-looking statements” within the meaning of applicable securities law, including without limitation, statements that address the Private Placement and the listing on TSXV Tier 2, and other matters. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. In particular, there is no guarantee that exploration work, as proposed, or otherwise, will be completed on the Company’s properties.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous;  (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly. There can be no assurance that planned exploration will be completed as proposed or at all, or that economic resources will be discovered or developed at the Company’s properties. Accordingly, actual results may differ materially from those currently anticipated in such statements.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, equipment failures, the loss of key directors, employees, advisors or consultants and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: Fort St. James Nickel Corp. (TSX Venture:FTJ.H, OTC Bulletin Board:OARFF)

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