First Point Minerals Acquires Two Properties in Norway

First Point Minerals has reported that it has purchased two properties in Norway, after the discovery of anomalous iron-nickel alloy through its ongoing exploration program.

The company has acquired the Fera property, which is situated 300 km towards north of Oslo, based on the previous work and reports from the Norwegian geological survey along with former surface sampling results. This property encloses 152 sq. km and has numerous ultramafic bodies in different sizes that form an east-trending belt, which is 18-km long. This belt links to a well-defined aerial geophysical magnetic high. The ultramafic body measures approximately 5x3 km in size and contains dispersed awaruite, which is a nickel-iron alloy occurring naturally.

Initial surface rock sampling has yielded anomalous values of nickel-in-alloy that averages 340 ppm for 13 samples, gathered over a distance of approximately 1,100 m. The rock samples include more amounts of dispersed iron-nickel alloy grains, whose size ranges from less than 50 to 200 µ.

Previous drilling program and the surface rock sampling outline a huge anomalous nickel-iron alloy mineralization area that expands over 2,500 m in length. A 200 to 400 m spaced rock sampling campaign will examine the complete ultramafic body for larger grain size and higher grade target areas.

Additionally, the company has purchased Leka, a second property, which is located 195 km towards the northern part of Trondheim. The Leka property stretches 39 sq. km on an island that is linked by a 4 km ferry ride from the mainland. The company staked this property because of favourable geology and several occurrences of nickel-iron alloy.

The company will conduct a detailed sampling and mapping program on both the properties from this month.

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