InvestmentPitch Media Video Discusses Fort St. James Nickel's Planned Work Program on 100%-Owned Kilometre 26 Nickel Project in British Columbia - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2021) - Fort St. James Nickel (TSXV: FTJ) (FSE: WL3P) (OTC: OARFF) is planning its 2021 work program for its 100%-owned Nickel Project. The Kilometre 26 property is located 50 kilometres northwest of Fort St. James, British Columbia, within the Omineca Mining Division.
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Access to the 5,830 hectare or 14,407 acre property is from Fort St. James by a paved road and the all-weather gravel Leo Creek Forestry Road. Due to the property's relatively low elevation and excellent access, exploration programs can be carried out year-round.
According to the NI 43-101 Technical Report, which is available on Sedar, nickel was discovered on the property in 2010, followed by the discovery of Awaruite, a nickel-iron alloy in 2011. Kilometre 26 is interpreted to contain a nickel mineralized ultramafic assemblage similar to the nearby Decar Project being explored by FPX Nickel Corp. Previous drilling tested a geophysical target that was more than seven kilometres in length, with all holes ending in mineralization, leaving the project open to depth and strike.
The highlight of a 2018 rock sampling program was sample 116001 which returned assays of 2,030 parts per million nickel. Approximately $1 million has been spent on the exploring the property to date. The new drilling program is currently being permitted to follow previous recommendations.
Just this week, Steve Mynott was appointed President of the company. Steve brings more than 15 years of experience in mining, finance, exploration, and development, along with a strong network of global investors spanning Europe, North America and Japan.
Steve Mynott, President, stated: "Market demand simply is not reflected in our current market cap and does not justify the asset we own 100%. Our neighbor FPX Nickel Corp 30 Km away is making significant head way and has a market cap 10 times our own, management decided its time to refocus our efforts on our 100% owned asset in light of the renewed market interest and demand for Nickel."
For those not following nickel, prices on the London Metal Exchange recently touched US$19,810 a tonne, having risen 17% so far this year, supported by solid demand from industrial sectors and low inventories across the world, with stainless steel and EV batteries being the top nickel-consuming sectors."
Glencore, one of the world's largest integrated producers and marketers of commodities, foresees 370% growth in nickel demand by 2050 as compared to 2019 levels.
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