Fort St. James Nickel Corp.
TSX VENTURE : FTJ

Fort St. James Nickel Corp.

December 15, 2011 09:30 ET

Fort St. James Nickel Corp.: Kilomter 26 Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2011) - Fort St. James Nickel Corp. (the "Company") (TSX VENTURE:FTJ) is pleased to provide an update on its current drill program. Drilling on the Kilometer 26 project, located near the community of Fort St. James, BC., commenced on November 20th and four holes have been completed with a 5th hole currently in progress. To date, approximately 700 meters has been drilled. All holes have encountered serpentinite from bedrock to bottom of hole. Holes have been drilled at a spacing of approximately 400 metres resulting in an area extending approximately 1.6km trending north/south and approximately 500 metres trending east/west and open in all directions, particularly to the south and west based on geophysical signatures. All holes have bottomed in serpentinite at depths varying from 80 metres to 200 metres. Drill casing has been left in place at all holes to allow for possible deepening at a later date. It is expected that the current hole will be completed by December 19th and drilling will then be stopped for a Christmas break and resume again in the new year. Analytical results are expected in approximately one month.

The current drill program is expected to complete a total of 12 drill holes totalling approximately 2,000 metres. Drill targets were established following the completion of approximately 65 line kilometers of ground-based geophysical surveys (particularly magnetic and induced polarization).

Due to the relatively low elevation of the Kilometre 26 property and its excellent access, exploration programs can be carried out year-round. Kilometre 26 is accessed by an all-season arterial logging road.

The Kilometer 26 Project encompasses 9,819 hectares (24,263 acres), located in the Omineca Mining Division of British Colombia. It is centered on a strong airborne magnetic The magnetic anomaly is circular in feature and is more than five kilometers in diameter, suggesting a large ultramafic body. Geological reconnaissance and prospecting over the last two summers have discovered an area of nickel mineralized serpentinite over an area of five kilometers by three kilometers (outcrop, subcrop and rubble) within this feature. The setting and nature of the nickel mineralization are believed to be similar to what occurs at the Decar Project (Cliffs Natural Resources Inc.), located 30 kilometers to the west.

The property is easily accessible by a major industrial road and logging roads, is bisected by a power line that forms part of the British Columbia power grid, and is adjacent to a branch line of the Canadian National Railway.

J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release. We seek Safe Harbor.

Further detail with respect to recent exploration work conducted on the Property is available in the Company's website www.fortstjamesnickel.com.

This news release contains certain statements that may be deemed "forward-looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Fort St. James Nickel believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Fort St James management on the date the statements are made. Fort St. James Nickel Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Fort St. James Nickel Corp. - Head Office
    Sandy MacDougall
    President and Chief Executive Officer
    604-662-8186
    604-662-8170 (FAX)
    www.fortstjamesnickel.com