First Point Stakes Nickel-Iron Alloy Occurrences on the Letain Property, Northern BC
The 2,295 hectare area of the Letain property is located about 85 kilometers east of Dease Lake and is accessed by a summer exploration road. The Letain property is one of five nickel-iron alloy properties in British Columbia owned 100% by First Point. A sixth property, Decar, is under option to Cliffs Natural Resources Exploration (see details in News Releases November 13 and December 2, 2009).
The occurrence of nickel-iron alloy in a broad zone on the Letain property is viewed as very positive. The key exploration objective of the upcoming 2010 fieldwork program will be to define coarser grained alloy zones using primarily wide-spaced rock sampling.
ACME Analytical Laboratory Ltd., Vancouver, analyzed the rock samples using ICP-MS techniques and Micron Geological Ltd. employed an AMRAY 1810 scanning electron microscope equipped with an EDAX "Genesis" energy dispersive X-ray analyzer to complete microprobe semi-quantitative analytical work. Ron Britten, Ph.D., P. Eng., 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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release
First Point Discovers Nickel-Iron Alloy on the Klow Property, Central BC
The Klow property is located about 135 kms (kilometers) north of Fort St. James and is about 18 kms east of the CNR rail line and 55 kms north of the Decar property. A well maintained logging road on the east margin of the property provided convenient access for several days of work in the late season field work in 2009. Klow is one of four properties in which First Point holds a 100% interest and with the Decar property (optioned to Cliffs Natural Resources Exploration ("Cliffs") -- see details in News Releases November 13 and December 2, 2009) cover a series of ultramafic pods and coincident airborne magnetic highs located in a 130 km long semi-continuous north trending belt. All of the properties are located within 5 to 30 kms on either side of the CNR rail line.
First Point is very encouraged with this preliminary exploration work on the Klow property. The extent of mineralization remains wide open on all sides. Field work in 2010 on the four properties in which First Point has a 100% interest will involve wide ranging and grid controlled mapping and sampling and, if warranted, geophysical surveys.
ACME Analytical Laboratory Ltd., Vancouver, analyzed the rock samples using ICP-MS techniques and Micron Geological Ltd. employed an AMRAY 1810 scanning electron microscope equipped with an EDAX "Genesis" energy dispersive X-ray analyzer to complete microprobe semi-quantitative analytical work. Ron Britten, Ph.D., P. Eng., 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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release
First Point Doubles the Size of Baptiste Target at the Decar Nickel Alloy Property, Central BC
distribution to U.S. newswire services or for dissemination in the U.S
First Point Minerals has more than doubled the size of the Baptiste Target on the Decar property in Central BC as a result of the 2009 field work. This target now measures 1,750 meters long by 800 to 1,300 meters wide. About 50% of this area is covered by overburden which masks the southern boundary of the Target. The current size of the Baptiste Target together with the adjacent Sidney target can be viewed on the First Point's web site at:
| http://www.firstpointminerals.com/s/Photos2.asp?ReportID=380475 |
where it is compared to the 2008 target size. The northwest end of the Baptiste Target is open and requires additional mapping and sampling which will be undertaken later this year to define additional extensions of the mineralization.
The widely disseminated coarse nickel-iron alloy grains at the Baptiste Target range in size from 100 microns to over 400 microns (or 0.1 mm to over 0.4 millimeters). The nickel-iron alloy grains average 75% nickel, 23% iron, minor amounts of cobalt and copper and contain no sulphur. They are strongly magnetic, very heavy and malleable, and these characteristics could provide a relatively simple mechanical separation process to recover the alloy in a form that can be sold directly to steel mills.
A helicopter supported airborne magnetic survey is anticipated to cover most of the Decar Property in the next few months. Grid controlled induced polarization, ground magnetic and detailed mapping and sampling on the Baptiste and Sidney Targets will be completed following spring breakup. The results of this work will help to design a drill program in the best areas of the Targets by testing the continuity, grain size and grade of the nickel-iron alloy mineralization and to provide samples for more extensive metallurgical tests.
As previously announced in November 2009, First Point entered into an option/joint venture agreement with Cliffs Natural Resources Exploration Inc. ("Cliffs"), a wholly-owned subsidiary of Cliffs Natural Resources Inc. (see Press Releases November 13 and December 2, 2009). Cliffs operates eight iron ore mines in North America and Australia and has extensive operating experience with large scale magnetic and gravity processing at these mines. Both these processes are directly applicable to recovery of the strongly magnetic and dense nickel-iron alloy mineral at First Point's Decar Property. The program on the Decar Property summarized above will be funded by Cliffs and managed by First Point.
Ron Britten, Ph.D., P.Eng., 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"
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release
First Point Grants Stock Options
distribution to U.S. newswire services or for dissemination in the U.S
First Point Minerals' Board of Directors has approved the granting of stock options for a total of 1,600,000 shares to ten individuals, including all directors and three employees. The grants are being made pursuant to the Company's incentive stock option plan. The options are effective December 23, 2009 have an exercise price of $0.35 per share and expire December 23, 2014
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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release
Suite 906 -- 1112 West Pender Street
Vancouver, BC Canada V6E 2S1
Tel: 604/681-8600
Fax: 604/681-8799
e-mail "firstpoint@firstpointminerals.com"
First Point Minerals Closes Private Placement Financing with Cliffs
distribution to U.S. newswire services or for dissemination in the U.S
Peter M. D. Bradshaw, P. Eng., President and Chief Executive Officer of First Point Minerals Corp. (TSXV:FPX) is pleased to advise the closing of the previously announced non-brokered private placement financing with Cliffs Natural Resources Exploration Inc. ("Cliffs"), a wholly-owned subsidiary of international mining company Cliffs Natural Resources Inc. The private placement consisted of 10,198,808 shares priced at $0.0975 per share, for gross proceeds to the Company's treasury of $994,384. The shares will be subject to a "hold" period that will expire on April 12, 2010.
The funds will be used, in part, to fund First Point's ongoing nickel alloy and precious metal exploration programs and for working capital.
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"
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.