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Fort St. James Enters Agreement for Nepisiguit Base Metal - Precious Metal Property Bathurst Mining Camp New Brunswick
VANCOUVER, BC / ACCESSWIRE / May 21, 2021 / Fort St. James Nickel Corp. (TSXV: FTJ ) (" FTJ ...
About this update from Fort St. James Nickel Corp.
[{"type":"text","content":"Fort St. James Enters Agreement for Nepisiguit Base Metal - Precious Metal Property Bathurst Mining Camp New BrunswickVANCOUVER, BC / ACCESSWIRE / May 21, 2021 / Fort St. James Nickel Corp. (TSXV:FTJ) (\"FTJ\" or the \"Company\") is pleased to announce it has entered into a Letter of Intent agreement with a private company to acquire a 100% interest in the Nepisiguit Base Metal - Precious Metal Property, located within the famous Bathurst Mining Camp of northern New Brunswick. The property borders the Heath Steele Property of Trevali Mining Corp. (site of the historic Heath Steele Mine).Semi-massive sulfides (pyrite) from 2020 Diamond Drilling at Nepisiguit Property Diamond drilling during late 2020 by the private company intersected semi-massive sulfides (pyrite) and magnetite iron formation. FTJ is currently sampling this core for gold assay and multi-element (including copper, lead, zinc and silver) analysis. Copper, lead and zinc mineralization and geochemical / geophysical anomalies are reported in various regions on the Nepisiguit Property.The 2020 diamond drilling program consisted of four drill holes (705 meters) within the central region of the property. The drill program tested an area of pyrite-rich float and magnetite iron formation float / outcrop anomalous for lead (samples up to 0.36% lead). All four holes intersected pyrite-rich to semi-massive pyrite intervals with one hole also intersecting magnetite iron formation. FTJ is systematically cutting samples from this drill core. Samples will be submitted to a certified laboratory for multi-element analysis (including copper, lead, zinc, and silver) and gold assay.FTJ has compiled historical information for the Nepisiguit property. This work identified numerous target areas for VMS deposits. The geology of the Property is favorable for volcanogenic massive sulfide (VMS) deposits, being predominantly underlain by Tetagouche Group rocks. Numerous Bathurst Camp VMS deposits / historic mines are hosted by Tetagouche Group rocks including the Brunswick No. 6, Brunswick No. 12, and Heath Steele Mines.The Nepisiguit Property is located approximately 30 kilometers southwest of the city of Bathurst. Access is excellent with logging roads transecting the property. The property currently covers an area of approximately 4,800 hectares.Pursuant to the terms of the letter of inte...