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Re: News Releases - Thursday, July 05, 2012
First Point Minerals Stakes Nickel-Iron Alloy Occurrences in
Norway
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Vancouver, July 5, 2012 -- First Point Minerals Corp. (FPX-TSX.V)
("First Point" or the "Company") is pleased to announce that it has
acquired two properties in Norway after its ongoing global exploration
campaign identified anomalous nickel-iron alloy occurrences.
Based an earlier reports and work from the Norwegian Geological Survey,
together with the results of early-stage surface sampling, First Point
has staked the 100%-owned Fera property, located 300 kilometres north
of Oslo. The Fera property covers 152 square kilometres and hosts
several ultramafic bodies of variable size forming an
18-kilometre-long, east-trending belt that correlates with a
well-defined airborne geophysical magnetic high. The largest ultramafic
body measures about 5 by 3 kilometres in size and hosts disseminated
awaruite, a naturally occurring nickel-iron alloy.
Preliminary surface rock sampling has returned anomalous
nickel-in-alloy values averaging 340 parts per million ("ppm") (or
0.03%) for 13 samples collected over a distance of about 1,100 metres.
The rock samples contain weak-to-common abundances of disseminated
nickel-iron alloy grains that range from less than 50 to 200 microns in
size.
Previous exploration work in the area includes historic drilling for
chromite in 1980. Core from six drill holes, each averaging roughly 100
metres long, was archived by the Norwegian Geological Survey. The holes
were re-logged and sampled by First Point earlier this year.
Weak-to-moderate abundances of fine-grained, disseminated nickel-iron
alloy of generally <50 microns size were noted throughout the drill
holes. One-metre-long drill core samples, split for analyses, were
taken near the top and bottom of the drill holes. The 12 drill core
samples range from 203 to 891 ppm (0.02 to 0.09%) nickel-in-alloy and
average 440 ppm (0.04%).
The surface rock sampling and historic drilling define a large area of
anomalous nickel-iron alloy mineralization extending more than 2,500
metres in length. First Point believes this could represent the margins
of a more strongly mineralized system. Consequently, a 200-to-400-metre
spaced rock sampling program will test the entire ultramafic body for
higher grade and larger grain size targets.
The Fera property is accessible by paved road within 1 kilometre north
of the property, while secondary roads and trails traverse portions of
the claim group.
First Point has also acquired a second property, called Leka, which
lies 195 kilometres north of the city of Trondheim. The Leka property
totals 39 square kilometres on an island connected by a 4-kilometre
ferry ride from the mainland. The property was acquired by First Point
based on favourable geology and a number of nickel-iron alloy
occurrences noted in published research papers.
A comprehensive mapping and sampling program will be carried out across
both properties, starting this month.
Rock samples, each averaging about 1 kilogram, were delivered to Acme
Analytical Laboratories Ltd. ("Acme", an ISO Certified Laboratory) in
Vancouver for nickel-in-alloy and total nickel analysis.
Nickel-in-alloy was analyzed 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.
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 or contact
Jim Gilbert, President and CEO, or Rob Robertson, VP Corporate
Development, at (604) 681-8600.
On behalf of First Point Minerals Corp.
"Jim Gilbert"
Jim Gilbert, President and CEO - 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: info@firstpointminerals.com
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.
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Copyright (c) 2012 FIRST POINT MINERALS CORP. (FPX) All rights
reserved. For more information visit our website at
http://www.firstpointminerals.com/ or send
mailto:info@firstpointminerals.com
Message sent on Thur Jul 5, 2012 at 5:05:00 AM Pacific Time
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EXPLORATEUR |
CODE : FPX.T |
ISIN : CA3359371083 |
CUSIP : 335937108 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
First Point Min. est une société d’exploration minière d'or et d'argent basée au Canada. First Point Min. détient divers projets d'exploration au Honduras. Ses principaux projets en exploration sont CORRALITOS au Mexique, DECAR et JOE au Canada et TULE et CAMPORO au Honduras. |