Welcome!

Microsoft Cloud Authors: Andreas Grabner, Stackify Blog, Liz McMillan, David H Deans, Automic Blog

News Feed Item

First Point Minerals Drills 261 Metres of 0.126% Nickel-in-Alloy at Wale Property

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/17/12 -- First Point Minerals Corp. (TSX:FPX) ("First Point" or the "Company") is pleased to announce that it has encountered extensive nickel-iron alloy mineralization carrying promising grades during a first pass of wide-spaced exploration drilling at the 100%-owned Wale property in northern British Columbia. Highlights include:


12DH-01 162m of 0.137% nickel-in-alloy(see note)                            
12DH-04 393m of 0.089% "                                                    
  including 141m of 0.111% "                                                
12DH-06 261m of 0.126% "                                                    
12DH-09 265m of 0.083% "                                                    
  including 54m of 0.142% "                                                 
12DH-10 140m of 0.100% "                                                    

Note: Nickel-in-alloy assays were done using the partial extraction analytical method (see explanation below).

The drill results indicate the underlying ultramafic package of rocks hosts widespread, disseminated, fine to coarse grained nickel-iron alloy carrying grades better than 0.05% nickel-in-alloy. The tops of hole DH-1 and DH-2, and portions of holes DH-4, DH-5, DH-6, DH-9 and DH-10, encountered nickel-in-alloy grades exceeding 0.1%, and as high as 0.142%, over lengths ranging from 31 to 262 metres.

"A large zone of nickel-iron alloy mineralization discovered and outlined in 2011 was successfully confirmed in long intersections of nickel-in-alloy in the 2012 drill program," said First Point's Vice-President of Exploration Dr. Ron Britten. "These drill results, coupled with surface rock sampling results from the adjoining Orca property and the newly defined Garth's Knob target in the southeastern portion of the Wale property, indicate a semi-continuous zone of mineralization that extends over a 14.5-kilometre strike length. There is excellent exploration potential along this camp-scale trend to build on and expand the higher-grade 0.1% nickel-in-alloy mineralization during 2013."

The first round of drilling tested a 3.6-kilometre-long portion of the northwest-southeast trending Eagle target with 10 core holes totalling 2,764 metres. The holes were drilled from six sections spaced 460 to 1,220 metres apart. The location of some drill holes on ridge lines and talus covered slopes was driven by local, rugged topography, which reaches a maximum elevation of 2,020 metres. A drill hole location map can be viewed at www.firstpointminerals.com. A summary of the Wale drill results is presented below in Table 1.

Table 1. Wale 2012 Drill Hole Results


----------------------------------------------------------------------------
                  End of                                                    
Hole        Cover   Hole                      Nickel-In-Alloy               
#             (m)    (m)     Intersections (m)            (%)               
                        ----------------------                              
                          From    To Intercept                      Comments
----------------------------------------------------------------------------
12DH-01(i)                                                     Excludes 2.7,
                                                               4.8, 5.1, 7.9
              3.1  303.0   3.1 188.0     161.8          0.137   & 2.6m dykes
----------------------------------------------------------------------------
and                      188.0 303.0     115.0          0.049               
----------------------------------------------------------------------------
12DH-02(i)    4.6  340.8   4.6  35.3      30.8          0.111               
----------------------------------------------------------------------------
and                                                           Excludes 2.9 &
                          35.4 340.8     296.9          0.075     5.4m dykes
----------------------------------------------------------------------------
12DH-03                                                        Excludes 2.5,
                                                                  2.3, 2.6 &
              3.1  306.9   3.1 306.9     294.2          0.053     2.3m dykes
----------------------------------------------------------------------------
12DH-04                                                          Excludes 4m
              3.1  407.5   3.1 258.9     251.8          0.077           dyke
----------------------------------------------------------------------------
and(i)                                                          Excludes 3 &
                         258.9 407.5     140.8          0.111     4.8m dykes
----------------------------------------------------------------------------
12DH-05                                                        Excludes 3.6,
                                                               4, 10.5, 2.4,
              6.1  361.9   6.1 255.1     223.1          0.061 2 & 3.3m dykes
----------------------------------------------------------------------------
and                      255.1 361.9     106.8          0.104               
----------------------------------------------------------------------------
12DH-06       4.3  300.2   4.3 300.2     260.7          0.126               
----------------------------------------------------------------------------
including                                                        Excludes 4m
                           4.3  69.0      60.7          0.086           dyke
----------------------------------------------------------------------------
including(i)                                                   Excludes 2.3,
                                                                  3.1 & 6.6m
                          69.0 210.5     129.5          0.137          dykes
----------------------------------------------------------------------------
including                                                      Excludes 3.7,
                                                              2, 6, 3, 2.1 &
                         210.5 300.2      70.6          0.090     2.3m dykes
----------------------------------------------------------------------------
12DH-07                                                       Hole abandoned
                                                                  due to bad
              2.6  108.8   2.6 108.8     106.2          0.083         ground
----------------------------------------------------------------------------
12DH-08                                                         Enters iron-
                                                                   carbonate
                                                               alteration at
             12.9  178.9  12.9  46.0      27.0          0.099            46m
----------------------------------------------------------------------------
12DH-09      31.0  303.0  31.0 140.0     109.0          0.060               
----------------------------------------------------------------------------
and(i)                   140.0 194.0      54.0          0.142               
----------------------------------------------------------------------------
and                                                            Excludes 7.4m
                         194.0 303.0     101.6          0.077           dyke
----------------------------------------------------------------------------
12DH-10                                                       Excludes 3.3 &
              3.5  152.4   3.5 152.4     140.2          0.100     5.4m dykes
----------------------------------------------------------------------------

(i)The reported nickel-in-alloy grades are based on a threshold of 0.10%.

A large northwest-southeast trending zone of nickel-iron alloy mineralization was first discovered at Wale in 2011 during a regional exploration program, and mapped in greater detail early in the 2012 field season. The Eagle target measures roughly 4.1 kilometres long and from 300 to 1,060 metres wide, as defined by 532 surface rock samples. It is characterized by disseminated nickel-iron alloy grains measuring from less than 50 to over 300 microns in size. A total of 196 rock samples from the Eagle target yielded values greater than 0.1% nickel-in-alloy.

The 10 holes of the 2012 program, which tested a 3.6-kilometre-long portion of the Eagle target area, were drilled either in a northeasterly direction at 010 degrees azimuth, or to the southwest at 190 degrees azimuth, at a minus 50-degree angle. The holes ranged from 109 to 409 metres in length. The nickel-iron alloy mineralization known as awaruite is hosted in moderately to strongly serpentinized peridotite and lesser dunite ultramafic rock. The target area is cut by numerous, non-mineralized felsic dykes, altered dykes and micro-gabbro dykes, which range from less than 1 to 10.5 metres in down-hole length. The core was sampled and analyzed at 3-metre wide intervals. Dykes less than 1-metre thick were included in the samples, whereas dykes wider than 1 metre are listed in Table 1 and are excluded from the mineralized intercepts.

Holes DH-1 and DH-2 were positioned on a ridge crest at an elevation of 1,930 metres in the southeastern part of the Eagle target. Aimed to the northeast, hole DH-1 intersected 161.8 metres averaging 0.137% nickel-in-alloy under 3 metres of cover, followed by 115 metres of below-grade 0.049% nickel-in-alloy deeper in the hole.

Hole DH-2 was drilled from the same pad as hole 1 but oriented to the southwest. It intersected 30.8 metres of 0.111% nickel-in-alloy at the very top of the hole, followed by 269.6 metres averaging 0.075% nickel-in-alloy. Together, these two holes indicate the near-surface, higher-grade zone at this location is at least 145 metres wide measured horizontally and averages 0.133% nickel-in-alloy.

Stepping out 1,220 metres along trend, the south easternmost hole, DH-6, is one of the better holes, intersecting some of the higher values of the drill program. It was collared in the flats at the bottom of the ridge, some 340 metres lower in elevation than holes 1 and 2, in a poorly exposed area masked by glacial debris. Hole 6 averaged 260.7 metres of 0.126% nickel-in-alloy over its entire length, excluding 10 un-mineralized dykes. The central portion of the hole returned 0.137% nickel-in-alloy across 129.5 metres.

The exploration potential around hole 6 is significant. It is open in all directions, particularly to the southeast where mapping and sampling in 2011 and 2012 have defined the Garth Knob's target. Hole 6 is in the northwest end of Garth's Knob, which measures 1,920 metres long and 350 to 950 metres wide as defined by 67 surface rock samples ranging in value from 0.062 to 0.216% nickel-in-alloy, for an average of 0.129%.

Hole DH-4, located 630 metres northwest of holes 1 and 2 along one of the ridge's highest points at 2,020 metres elevation, intersected 251.8 metres averaging 0.077% nickel-in-alloy, followed by 140.8 metres of 0.111% nickel-in-alloy in the lower part of the hole.

Holes DH-3, DH-5 and DH-10 were drilled on the same section some 590 metres away from hole 4 along trend to the northwest at an elevation of 1,830 metres. Aimed in a northeasterly direction, hole 3 cut 294.2 metres averaging 0.053% nickel-in-alloy. Hole 5 was oriented in the opposite direction to the southwest and encountered 223.1 metres averaging 0.061% nickel-in-alloy, followed by 106.8 metres grading 0.104% nickel-in-alloy in the bottom part of the hole. Hole 10, collared 240 metres southwest of hole 5, intersected 0.10% nickel-in-alloy averaged across its entire length of 140.2 metres, excluding 3.3- and 5.4-metre wide un-mineralized dykes.

Stepping out a further 660 metres along the mineralized trend to the northwest at a 1,770-metre elevation, Hole DH-7 cut 106.2 metres of 0.083% nickel-in-alloy before being abandoned due to poor ground conditions.

Holes DH-8 and DH-9, the north westernmost holes, were drilled from the same pad a further 460 metres northwest of hole 7 at an elevation of 1,560 metres. Oriented in a southwesterly direction, hole 8 intersected 27 metres of 0.099% nickel-in-alloy at the very top of the hole before encountering a wide zone of weakly mineralized iron-carbonate alteration to the bottom of the hole, which ended at 179 metres depth. Hole 9, aimed in the opposite direction to the northeast, cut 264.6 metres averaging 0.083% nickel-in-alloy, including a 54-metre-long interval grading 0.142% nickel-in-alloy in the centre of the hole.

Orca

The nearby 100%-owned Orca target (as disclosed in First Point's October 11, 2012 news release) is located 6.8 kilometres northwest of Wale holes DH-8 and DH-9, along the projected mineralized trend. The target at Orca measures 1,400 by 750 metres as defined by 118 rock samples averaging 0.113% nickel-in-alloy. The immediate area between Orca and these two Wale drill holes offers significant exploration potential, but has not been effectively explored to date due to limited bedrock exposure. The Orca-Wale-Garth's Knob trend measures a total 14.5 kilometres in length.

A comprehensive mapping and sampling program will target the Orca-Wale-Garth's Knob district in 2013, followed by a later phase of exploration drilling.

Polar Option

Pursuant to a property option agreement, First Point has the exclusive and irrevocable option ("Option") to acquire a 100% beneficial interest in certain mineral claims totalling 438 hectares that adjoin the Company's Wale property, excluding the minerals jadeite and nephrite. In order to exercise the Option, First Point must incur annual exploration expenditures over a five-year period of not less than $100,000 on the optioned mineral claims, to an aggregate of $500,000 of such expenditures. The optioner has retained a royalty interest equal to 0.1% of the net value of all mineral products produced from the optioned mineral claims. In addition, if First Point's Board of Directors announces that the financing to place the Wale project into commercial production has been arranged, First Point shall make a one-time payment of $1 million to the optioner.

The Wale property is located 45 kilometres east of Dease Lake, a town on the Stewart-Cassiar Highway 37, and covers 119 square kilometres in the Stikine Ranges of northern B.C. Access to the property is by helicopter, directly from Dease Lake, and by a rough mining road and trails using all-wheel drive, heavy duty utility vehicles, which service the nearby jade and placer gold mining operations active in the area.

Sampling and Analytical Method

The 2012 HQ-sized drill core was sawn in half and sampled at 3-metre-long intervals and delivered to Acme Analytical Laboratories Ltd. ("Acme") preparation lab in Smithers, B.C. The sample pulps were then sent to Acme's ISO Certified Laboratory facility in Vancouver for nickel-in-alloy and total nickel analysis. Nickel-in-alloy was analysed using a partial extraction analytical method that selectively dissolves nickel present as nickel-iron alloy and does not extract the nickel present within rock forming silicate minerals. Following independent studies, including the development of certified standards to monitor accuracy, this partial extraction analytical method was commercially certified by Dr. Barry Smee of Smee & Associates Consulting Ltd. for the exclusive use of First Point. Total nickel was assayed by Acme using a four acid digestion and an ICP-MS finish, which determines the total nickel present, in both nickel-iron alloy and silicate form, as well as iron and chromium. Standards, blanks and duplicates are inserted in the batches to provide quality control.

Dr. Ron Britten, P. Eng., First Point's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About First Point

First Point Minerals Corp. is a Canadian base and precious metal exploration company operating worldwide. For more information, please view the Company's website at www.firstpointminerals.com.

On behalf of First Point Minerals Corp.

Jim Gilbert, President and CEO

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists looked at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deliver...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 21st Int\ernational Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their ...
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to ma...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...