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Re: News Releases - Monday, July 13, 2009
palladium and Platinum Results in Nickel-Iron Alloy in First
Point's Joe Property, Oregon
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Analysis of nuggets of nickel-iron alloy in stream samples from the Joe
Property show that they contain
palladium and platinum that could
represent significant added value in a nickel concentrate. Two
samples, each consisting of several Ni-Fe alloy nuggets taken from
streams traversing the Joe Property area, contain up to 5.3 g/t
(grams/tonne)
palladium with an average of 3.9 g/t and, 0.35 g/t
platinum with an average of 0.27g/t. The two samples carry 43 and 52%
nickel and 25 and 35% iron respectively.
The grains of the disseminated nickel-iron alloy in widely spaced rock
samples from outcrop on the Joe Property average 61% Ni and 36% Fe and
range from 47% to 78% Ni and 22% to 52% Fe based on scanning election
microprobe analyses. The rock samples average 0.28% total nickel and
at this stage the amount of the total nickel held in alloy verses
silicates or sulphides is unknown.
The Joe Property is situated within a large strongly serpentinized and
structurally broken ultramafic belt in Josephine County in southwest
Oregon that hosts the nickel-iron alloys in bedrock and alluvial
nuggets. The nickel-iron alloy nuggets which measured up to several
centimeters in diameter were first found by prospectors in their gold
sluice boxes in Josephine Creek in 1892. Since that time these nuggets
have received considerable attention from mineralogists but there has
been no record of recovering and marketing this alluvial nickel
material nor have the bedrock sources of the alloy been given serious
exploration attention.
First Point first staked this property in the spring of 2008 and
conducted surface exploration and rock sampling on 200 to 300 meter
intervals over most of the claim group. The area is moderately rugged
with a series of cliffs and canyons and was largely burned off in 2005
thus providing excellent outcrop for sampling. The samples containing
disseminated alloy grains occur with an assemblage of magnetite,
pentlandite, millerite, heazlewoodite and iron sulphides in composite
grains. A hydrothermal origin is indicated for this assemblage
together with the enrichment of the platinum group elements in the
nickel-iron alloy.
The occurrences of widely spaced nickel-iron alloy, the association of
good
palladium and platinum values in the alloy, along with the intense
alteration and structural breakage of the ultramafic host rock point to
good exploration potential for the Joe Property. A map of the Joe
Property is shown in a presentation on the Company's website at:
http://www.firstpointminerals.com/i/pdf/Decar_Presentation.pdf which
also presents First Point's bulk mineable nickel alloy targets in the
Decar Property and other four early stage nickel properties located in
central British Columbia.
ACME Analytical Laboratory Ltd., Vancouver, analyzed the rock samples
using ICP-MS techniques. Micron Geological Ltd. employed an AMRAY 1810
scanning electron microscope equipped with an EDAX "Genesis" energy
dispersive X-ray analyzer to complete microprobe analytical work.
Peter Bradshaw, Ph.D., P. Eng., 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
Tel: 604/681-8600
Fax: 604/681-8799
e-mail "firstpoint@firstpointminerals.com"
The TSX Venture Exchange has not reviewed, nor accepts responsibility
for the adequacy or accuracy of this news release.
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Copyright (c) 2009 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 Mon Jul 13, 2009 at 12:28:08 PM Pacific Time
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