Re: News Releases - Monday, July 20, 2009
First Point Expands Nickel-Iron Alloy Target and Discovers
Coarser Alloy at Decar in Central British Columbia
First Point Minerals Corp. (FPXV:TSXV) is pleased to announce results
of recent field work at the Decar Property in central British Columbia.
This work involved mapping and rock sampling, cutting/polishing, size
estimations of nickel-iron alloy grains and collection of large samples
for metallurgical tests. The discovery of an area characterized by
large grains of the alloy could significantly improve metallurgical
recoveries using magnetic and gravity methods as the alloy is very
magnetic and heavy. Physical separation methods could produce a very
simple and inexpensive concentrate that could be shipped directly to
steel producers and thus avoiding the expense of smelters or refiners.
The area of coarse grained nickel-iron alloy (100 to 400 microns or 0.1
to 0.4 millimeters) at the Baptiste Target has been significantly
increased to 850 by 1550 meters and is open to the west. The Baptiste
Target area comprises approximately 20 to 30% outcrop and has been rock
sampled at intervals of 50 to 300 meters and demonstrates good
continuity of this coarse grained alloy. The remaining area is covered
by unconsolidated overburden. Sheared and broken outcrop that exist on
the east and south margin of the Baptiste Target could significantly
reduces the cost of both open pit mining and crushing and milling of
mineralized rock. First Point's minimum exploration target is a deposit
containing 300 million tonnes which can be represented by a cube 500
meters on each side. A target of this size would easily fit within the
Baptiste Target area.
Recently discovered very coarse grained nickel-iron alloy (200 to 1,000
microns or 0.2 to 1 millimeter) from an outcrop located east of the
Sidney Target could represent a significant target for both exploration
and metallurgical tests. The 690 meter interval between the Sidney
Target and this outcrop was covered by glacial alluvium and winter snow
cover at the time of the field work. Future mapping and sampling are
warranted to define the dimensions of this area that contain this very
coarse grained alloy.
Two areas of coarse grained awaruite (100 to 400 microns) have been
further defined at the Van Target. They are located about 1000 meters
apart and the intervening area is covered by overburden. Recessive
gullies that represent fault or mapped shear zones and orthophoto
lineaments all trend west northwest and coincide with these two areas.
Because of sparse outcrop the width of this target is unknown but
further mapping and sampling are required.
Further information on this target type and maps of Decar including
details of the Baptiste, Sidney and Van targets are available on the
Company's website at:
http://www.firstpointminerals.com/i/pdf/Presentation.pdf which also
provides information on First Point's five other nickel alloy targets.
Ron Britten, Ph.D., is the Qualified Person as defined by National
Instrument 43-101 and 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
The TSX Venture Exchange has not reviewed, nor accepts responsibility
for the adequacy or accuracy of this news release.
Copyright (c) 2009 FIRST POINT MINERALS CORP. (FPX) All rights
reserved. For more information visit our website at
http://www.firstpointminerals.com/ or send
Message sent on Mon Jul 20, 2009 at 1:58:07 PM Pacific Time