Re-discovering Nickel. First Point Minerals (FPX-TSX-V) is a Vancouver-based junior exploring for a unique style of nickel mineralization that is neither sulphide nor laterite. The target mineralization, awaruite, is a naturally occurring metallic nickel-iron alloy, containing little or no sulphides. The Company's flagship Decar Project in central British Columbia, Canada, has made significant strides towards proof of concept as to the commercial viability of awaruite deposits. The positive results of a Preliminary Econcomic Assessment announced in March 2013 demonstrates the potential economic viability of the Decar Project as a large-scale, standalone open-pit mine and mill, using conventional, low-risk magnetic separation and gravity recovery processing methods to produce a nickel-iron-chromite concentrate.
In April 2014, First Point announced the positive results from a successful market test of the technical and commercial potential of Decar awaruite concentrates, which had never before been presented to potential offtakers for evaluation. Alternative process routes assessed included blending as feedstock to ferronickel production and direct feed to stainless steel circuits.
First Point is targeting this same style mineralization elsewhere in Canada and internationally. Exploitation of these long-life, low-risk awaruite deposits represents a potential game changer for the nickel industry.