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906-1112 W. Pender St.
Vancouver, B.C. V6E 2S1
Telephone: 604-681-8600
Toll Free: 1-866-FPM-8601
Fax: 604-681-8799
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| |   Mon Jul 20, 2009
First Point Expands Nickel-Iron Alloy Target and Discovers Coarser Alloy at Decar in Central British Columbia
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| | First Point Minerals Corp. (FPXV:TSXV) is pleased to announce results of recent field work at the Decar Property in central British Columbia. This work involved mapping and rock sampling, cutting/polishing, size estimations of nickel-iron alloy grains and collection of large samples for metallurgical tests. The discovery of an area characterized by large grains of the alloy could significantly improve metallurgical recoveries using magnetic and gravity methods as the alloy is very magnetic and heavy. Physical separation methods could produce a very simple and inexpensive concentrate that could be shipped directly to steel producers and thus avoiding the expense of smelters or refiners.
The area of coarse grained nickel-iron alloy (100 to 400 microns or 0.1 to 0.4 millimeters) at the Baptiste Target has been significantly increased to 850 by 1550 meters and is open to the west. The Baptiste Target area comprises approximately 20 to 30% outcrop and has been rock sampled at intervals of 50 to 300 meters and demonstrates good continuity of this coarse grained alloy. The remaining area is covered by unconsolidated overburden. Sheared and broken outcrop that exist on the east and south margin of the Baptiste Target could significantly reduces the cost of both open pit mining and crushing and milling of mineralized rock. First Point's minimum exploration target is a deposit containing 300 million tonnes which can be represented by a cube 500 meters on each side. A target of this size would easily fit within the Baptiste Target area.
Recently discovered very coarse grained nickel-iron alloy (200 to 1,000 microns or 0.2 to 1 millimeter) from an outcrop located east of the Sidney Target could represent a significant target for both exploration and metallurgical tests. The 690 meter interval between the Sidney Target and this outcrop was covered by glacial alluvium and winter snow cover at the time of the field work. Future mapping and sampling are warranted to define the dimensions of this area that contain this very coarse grained alloy.
Two areas of coarse grained awaruite (100 to 400 microns) have been further defined at the Van Target. They are located about 1000 meters apart and the intervening area is covered by overburden. Recessive gullies that represent fault or mapped shear zones and orthophoto lineaments all trend west northwest and coincide with these two areas. Because of sparse outcrop the width of this target is unknown but further mapping and sampling are required.
Further information on this target type and maps of Decar including details of the Baptiste, Sidney and Van targets are available on the Company's website at: http://www.firstpointminerals.com/i/pdf/Presentation.pdf which also provides information on First Point's five other nickel alloy targets.
Ron Britten, Ph.D., is the Qualified Person as defined by National Instrument 43-101 and is responsible for the contents of this release.
First Point Minerals Corp is a Canadian base and precious metal exploration company focused on the Americas. For more information, please view the Company's website at www.firstpointminerals.com or phone Peter Bradshaw, President and CEO, or Ron Britten, Vice-President of Exploration, at (604) 681-8600.
FIRST POINT MINERALS CORP.
"Peter M.D. Bradshaw"
Peter M.D. Bradshaw, President - TSX Venture Exchange: FPX
Suite 906 -- 1112 West Pender Street
Vancouver, BC Canada V6E 2S1
Tel: 604/681-8600
Fax: 604/681-8799
e-mail "firstpoint@firstpointminerals.com"
The TSX Venture Exchange has not reviewed, nor accepts responsibility for the adequacy or accuracy of this news release. |
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| | You can view the Next News Releases item: Fri Nov 13, 2009, First Point Options the Decar Nickel Iron Alloy Property to Cliffs Natural Resources Exploration Inc., and Announces Private Placement of First Point Shares to Cliffs
You can view the Previous News Releases item: Mon Jul 13, 2009, Palladium and Platinum Results in Nickel-Iron Alloy in First Point's Joe Property, Oregon
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