First Point Minerals Corp. - Home Page

906-1112 W. Pender St.
Vancouver, B.C. V6E 2S1
Telephone: 604-681-8600
Toll Free: 1-866-FPM-8601
Fax: 604-681-8799

Nickel Properties Description

Nickel Alloy Decar Property Presentation

Symbol	Last:	$ Chg:	Vol:	Day High:	Day Low:	Date:	Time:
FPX	0.320	even	100250	0.330	0.315	02-08-2010	14:23

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Wed Jan 13, 2010 : News Releases : First Point Doubles the Size of Baptiste Target at... (more...)

Wed Dec 23, 2009 : Articles & Reports : Canaccord puts First Point Minerals on its "Small ... (more...)

Wed Dec 23, 2009 : News Releases : First Point Grants Stock Options (more...)

First Point Minerals Corp., is a Canadian exploration company engaged in the acquisition and development of economic base metal, mainly nickel and precious metal minerals deposits in the Americas. First Point holds six nickel-iron alloy properties in Canada and the USA, as well as several gold and silver properties located in Mexico and Central America.

First Point first recognized the potential exploration and processing characteristics of a nickel-iron alloy target in 2007 and viewed this new style of nickel mineralization as a viable economic mine deposit. The recently completed Decar Nickel Property Option/Joint Venture agreement with Cliffs Natural Resources, a major mining company, has been very favourably received by the investment community as Cliff's metallurgical and operating experience with large scale magnetic separation may have direct application to the Decar project. First Point's exploration expertise and Cliff's significant metallurgical and operating skills will be a powerful combination to advance this exciting nickel project toward development. Cliff's private placement in First Point will allow First Point to deploy its proprietary knowledge of this mineralization to identify other nickel-iron alloy properties around the world.

The significant impact of this nickel alloy target at Decar on reducing mining and environmental costs can not be understated when compared to conventional sulphide and oxide (laterite) nickel deposits. The absence of sulphur in the nickel-iron alloy will not only eliminate smelter costs as the processed product can be sold directly to the steel mills, but mitigate the harmful environmental effects usually associated with the characteristics of traditional sulphide deposits.

The First Point team has over 120 years of exploration and management experience in over 30 countries and is led by Dr. Peter M.D. Bradshaw and Dr. Ron Britten who collectively have been instrumental in the discovery, exploration and advancement of seven major mines in various parts of the world.

Summary: Nickel - Iron Alloy Target Characteristics

Grade - 0.1 to 0.2% Nickel in Nickel-Iron Alloy
Target - 100's millions tonnes, minimum 300 Million Tonnes
Disseminated Bulk Mining & Equivalent Grade Similar to Porphyry Copper Deposits
Nickel-Iron Alloy is a mineral called Awaruite
Process Tests - Ongoing
Process -- Could be Simple & Low Cost
Ship Product directly to Steel Producers eliminates Smelter Costs
No Sulphur, minimal Environmental Issues - a "Green Mineral"
CO₂ Capture in Tailings

Click to enlarge

Decar, Nickel, BC

Cliffs can earn an initial 51% interest in the Decar property by spending US$4.5 million within 4 years.
Minimum 2010 program is $1 million funded by Cliff's and managed by First Point.
Targets: Baptiste, measure 1750 m long and 800 to1300 m wide, and Sidney at 400 m by 500 m are based on visual 100 to 400 micron grain sizes of the nickel-iron alloy.
Extensions of mineralization anticipated.
Road access and less than 5 kilometers to BC Rail line.
Ongoing metallurgical testing.
Exploration spring program in 2010 will include airborne magnetic survey, grid-controlled induced polarization and magnetic surveys and detailed mapping and sampling on the Baptiste and Sidney Targets followed by a drill program.

For further information click the icons to the left "Nickel Properties Description" and "Nickel Alloy Decar Property Presentation".

Four Properties, Nickel, BC

Ogden, Bodine, Klow and Mesa Properties are 100% owned by First Point.
Coincident ultramafic rocks, aeromagnetic high anomalies and regional stream silt geochemical anomalies are covered by the properties.
Partial road access, all within 30 kilometers of the BC Rail line.
Early stage exploration warranted in 2010

Joe Property, Nickel, Oregon

100% owned by First Point.
Several nickel-iron alloy occurrences noted.
Associated with sulphides and other elements.
Road access.
Further work warranted in 2010.

Corralitos, Gold-Silver-Lead-Zinc, Chihuahua

First Point Option (from Teck Cominco) to earn up to 100% interest in Corralitos, northern Mexico.
Noria Target is a Carlin setting with silicified, oxidized limey mudstone and limestone and carries 3 to 17 grams/tonne gold (g/t) between 1.2 to 9 meters wide.
Quartz veins carry 100 to 300 g/t silver and 1 to 4 g/t gold.
Drill program planned in 2010.

Aquila

First Point holds one million free trading shares of Aquila Resources Inc.
Details on www.aquilaresources.com.