First Point Minerals Corp.

First Point Minerals Corp.

July 08, 2010 14:34 ET

First Point Commences Drilling on the Corralitos Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2010) - First Point Minerals Corp. (TSX VENTURE:FPX) ("First Point" or the "Company") is pleased to announce that it has commenced diamond drilling at its Corallitos Gold property in Chihuahua State, Mexico. First Point plans to drill 12 holes and a minimum of 1,200 metres within the project's Noria target area located west of the historic San Pedro Corralitos mining camp.

Preliminary exploration work by First Point at Corralitos, a carbonate hosted gold-silver-lead-zinc (Au-Ag-Pb-Zn) property with significant historic production, has included mapping, soil and rock sampling that includes the sizeable old workings, pits and trenches. The current drill programme has been developed to follow-up on encouraging results from the preliminary exploration work and will test several targets, including 5.7 g/t Au (grams per tonne gold) over 5.6 meters, 17.2 g/t Au over 1.5 meter and 3.7 g/t Au over 9.6 meters (refer to news releases dated Sept 24, 2007, March 25, 2008 and May 28, 2008).

First Point's VP Exploration, Dr. Ron Britten, recently visited the property to finalize arrangements and staffing to commence the drill programme. Says Dr. Britten, "The Noria target exhibits excellent Carlin gold type characteristics including strong silicification, iron oxide bearing gold, and strong Carlin type indicator elements hosted in carbonates. This first-ever drill program could indicate an exciting upside potential of this gold mineralized zone, and if the results are positive, the drill program will be expanded." 

Landdrill International Mexico, based out of Hermosillo, Mexico, has been contracted to complete the drill program. Core samples will be sent to ALS Laboratory Group ("ALS"), Chihuahua, Mexico for core preparation and later analyzed by ALS in Vancouver, Canada.

"While First Point's primary initiatives focus on expanding its nickel-iron alloy prospects, the Corralitos property provides the Company with good secondary exposure to the gold sector," said Dr. Peter Bradshaw, President and CEO of First Point. "We are quite excited at the prospects of this drilling program and the value it could bring to our shareholders."

The Corralitos property is under option from Teck Resources Limited's Mexican subsidiary, Minera Teck S.A. de C.V. (refer to First Point news releases dated May 29, 2007, and July 8, 2009 for details of the option agreement).

About First Point

First Point Minerals Corp. is a Canadian base and precious metal exploration company. The Company's flagship Decar property hosts naturally formed nickel-iron alloy mineralization that is the subject of an exploration program being financed by Cliffs Natural Resources Exploration Canada Inc., a wholly-owned subsidiary of Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF), an international mining and natural resources company.

On behalf of First Point Minerals Corp.

"Peter Bradshaw"
Peter Bradshaw, Ph.D., P.Eng., President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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