Fort St. James Begins 2021 Exploration Program at Porcupine Base Metal - Precious Metal - REE Property - Central New Brunswick

Rhea-AI Summary

Fort St. James Nickel Corp. has initiated a prospecting and geochemical sampling program at its Porcupine Property in central New Brunswick. Targeting areas east of previously discovered mineralization (2012), the program aims to explore for base metal and precious metal mineralization. Past results showed notable concentrations, including 5.48% zinc and 1.08% lead. The project is supported by a qualified person, David Martin, ensuring technical compliance. The area is known for its mineral-rich deposits, including historical sites nearby.

Positive

• Commencement of prospecting and geochemical sampling program.
• Previous high-grade mineralization reported, including 5.48% zinc and 1.08% lead.
• Historical and geological context supports exploration potential.

Negative

• Qualified person has not verified 2012 trench sample data.
• Risks and uncertainties in mining exploration noted, including market conditions and environmental risks.

VANCOUVER, BC / ACCESSWIRE / July 12, 2021 / Fort St. James Nickel Corp. (TSXV:FTJ) ("FTJ" or the "Company") is pleased to announce it has commenced a prospecting and rock / soil geochemical sampling program at its Porcupine Base Metal - Precious Metal - Rare Earth Element (REE) Property, located in central New Brunswick. The program is being conducted in the northern region of the property targeting an area east of zinc, lead, copper and silver mineralization discovered during 2012 trenching by option partner, Great Atlantic Resources Corp. (TSX.v: GR). Samples results at that time included:

• Channel Sample: 5.48% zinc & 1.08% lead over 1 meter ( 4W Trench).
• Boulder Sample: 20.7% lead, 6.89% zinc and 122 grams / tonne (g/t) silver (3W Trench).

Lead and zinc sulfide mineralization in 2012 Line 4W Trench

The Company completed a small 4-hole diamond drilling program (227 total meters) during 2018 with all holes drilled under the Line 4W trench. Each hole intersected near-surface base metal sulfide mineralization as disseminations and veinlets / veins. A Qualified Person supervised the 2018 drilling program by FTJ. Sample highlights (core length) for zinc (Zn), lead (Pb), copper (Cu) and silver (Ag) include:

PO-18-3: 10.75 - 11.05 meters (0.30 meters): 2.66% Zn, 1.86% Pb, 0.42% Cu & 15.7 g/t Ag

PO-18-4: 8.88 - 9.28 meters (0.40 meters): 5.87% Zn, 1.39% Pb, 0.64% Cu and 13.8 g/t Ag

The 2018 drill core samples were analyzed by ALS Canada Ltd. by four acid digestion and ICP-AES analysis and assayed for gold by fire assay - AA.

Prospecting and rock / soil geochemical sampling are currently being conducted east-southeast of the 2012 trenches and 2018 drill holes. The work is being conducted along an induced polarization (IP) chargeability anomaly or anomalies which extends east-southeast from the area of mineralization discovered during 2012 trenching. Rock and soil samples collected will be analyzed by a certified laboratory for multiple elements including zinc, lead, copper, and silver and will be assayed for gold. The objective of the work is to explore for similar base metal - precious metal mineralization east-southeast of the 2012 trenches and 2018 drill holes.

Vein with base metals sulfides in drill hole PO-18-4

The Porcupine Property occurs within the Miramichi terrane which trends northeast-southwest through New Brunswick. The Miramichi terrane hosts numerous volcanogenic massive sulfide deposits in northeast New Brunswick in the famous Bathurst Camp. Many of these deposits were mined, including the historic Heath Steele Mine, located approximately 40 kilometers northeast of the Porcupine Property. Volcanic rocks are reported locally within the Porcupine Property.

A qualified person has not verified the 2012 trench sample data as the trenches have been reclaimed. A qualified person verified lead, zinc and copper sulfide mineralization in stringers / veins during 2018 in one trench as a bedrock exposure was accessible.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release. Mr. Martin is a consultant for Fort St. James Nickel Corp. and VP Exploration for Great Atlantic Resources Corp.

ON BEHALF OF THE BOARD

"Barry Brown"
President

Fort St James Nickel Corp. 604-488-3900

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com . These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Fort St. James Nickel Corp.

View source version on accesswire.com:
https://www.accesswire.com/655225/Fort-St-James-Begins-2021-Exploration-Program-at-Porcupine-Base-Metal--Precious-Metal--REE-Property--Central-New-Brunswick

FAQ

What is Fort St. James Nickel Corp. planning for its Porcupine Property in 2021?

Fort St. James Nickel Corp. has begun a prospecting and geochemical sampling program at its Porcupine Property, aiming to explore for base metal and precious metal mineralization.

What were the results of previous explorations at the Porcupine Property?

Previous explorations reported significant mineralization, including 5.48% zinc and 1.08% lead from trenching in 2012.

Who is responsible for the technical information in Fort St. James' press release?

David Martin, a qualified person as per NI 43-101, is responsible for the technical information contained in the press release.

What geological features support the exploration at the Porcupine Property?

The Porcupine Property is located within the Miramichi terrane, known for hosting volcanogenic massive sulfide deposits.

What risks are associated with the exploration program announced by Fort St. James Nickel Corp.?

Risks include market conditions, environmental risks, operating risks, and potential delays in obtaining approvals.