VANCOUVER, BC, April 24,
2023 /CNW/ - FPX Nickel Corp. (TSXV: FPX) (OTCQB:
FPOCF) ("FPX" or the "Company") is pleased to provide
an update on the activities of CO2 Lock Corp. ("CO2 Lock"),
its majority-owned subsidiary focused on establishing standalone
operations for the permanent storage of carbon dioxide in
brucite-rich serpentinized peridotite ("BRSP") host rock.
Since its founding in 2022, CO2 Lock has made significant
progress in two important respects, acquiring a highly prospective
land package in central British
Columbia for future carbon capture and storage
("CCS") operations, and completing laboratory testwork to
demonstrate that the superior carbon reactivity of brucite can lead
to permanent carbon storage with significant advantages over
nature-based and other geologic solutions.
Highlights
- CO2 Lock has acquired a 100% interest in the SAM project, a 41
km2 land package strategically located near large
carbon dioxide emission sources in Prince
George
- Sampling program at SAM has demonstrated significant brucite
values over a large area, with at least 4 km x 2 km over 2.0%
brucite, mineralization levels comparable to those observed at
FPX's Decar Nickel District
- Successful completion of laboratory testwork utilizing rock and
water samples designed to fully characterize the kinetics, reaction
rates, and sequestration potential of BRSP deposits for standalone
CCS projects
- Upcoming field and laboratory work to incorporate
hydrogeology, geology, water and bulk rock sampling for CCS
process development and scale-up towards pilot-scale and field
demonstrations, including the development of detailed
technoeconomic analysis ("TEA") and life cycle assessment
("LCA") for standalone CCS operations
"We are pleased to see the significant progress made by CO2 Lock
during its first year of existence," commented Martin Turenne, FPX's President CEO. "In
acquiring a highly prospective land package and advancing the
technical understanding of carbon mineralization in brucite-rich
geological settings, the CO2 Lock team is aggressively advancing
along the path to commercialization of large-scale, standalone CCS
projects, providing FPX shareholders with free exposure to this
generational market opportunity."
Background
On March 30, 2022, FPX announced
the formation of CO2 Lock as a self-funding entity to pursue
geoscience-related CCS opportunities. FPX retains 100% of the
carbon credits associated with CCS on its own properties, and will
retain a right to use, free of charge, any intellectual property
developed by CO2 Lock for the benefit of FPX's own properties.
CO2 Lock is working on three pathways to commercial
CO2 storage utilizing BRSP deposits; ex-situ rock,
ex-situ water, and in-situ rock. All three pathways utilize
labile magnesium cations which combine with CO2 to form
stable carbonate minerals. Both ex-situ pathways involve
processing material from BRSP deposits above ground, mixing rock or
water with CO2 through various processes, and generating
carbon minerals at surface. The in-situ pathway involves
injecting CO2 rich water into BRSP deposits at depth;
this process is similar to Project Orca in Iceland where a joint venture between Carbfix
and Climeworks utilize basalts to permanently mineralize
CO2 in-situ.
SAM Project in Central British Columbia
The SAM project is CO2 Lock's proposed initial location for CCS
based on brucite-rich serpentinized peridotite host rock.
Located approximately 50 kilometers southwest of Prince George, BC, the 41 km2 SAM
Project was staked in 2022 based on regional mapping and geophysics
showing a large, serpentinized ultramafic body composed primarily
of harzburgite, dunnite, and peridotite. This ultramafic
assemblage is very similar to FPX's Decar Nickel District, where
foundational research on CO2 mineralization has been conducted, and
which forms the basis for CO2 Lock's process.
![Figure 1 – SAM project location map, showing location relative to Prince George, B.C. (CNW Group/FPX Nickel Corp.) Figure 1 – SAM project location map, showing location relative to Prince George, B.C. (CNW Group/FPX Nickel Corp.)](https://mma.prnewswire.com/media/2060956/FPX_Nickel_Corp__FPX_Nickel_Subsidiary_CO2_Lock_Corp__Secures_B_.jpg)
CO2 Lock conducted a rock sampling program at the SAM property
over two phases in 2022. The initial phase focused on
reconnaissance with widespread sample coverage over mapped
ultramafics. The second phase was a focused program targeting
higher-grade brucite zones identified from the analytical results
of the first phase and structural mapping. A total of 115
representative chip samples and two bulk samples were collected
over the claims between the two phases. The SAM sampling
program demonstrated significant brucite values over a large area,
with at least 4 km x 2 km over 2.0% brucite, mineralization levels
greater than those observed in surface samples at FPX's Decar
Nickel District.
Additional field work at SAM is planned in summer 2023,
incorporating hydrogeology, geology, water and bulk rock sampling
for CCS process development and scale-up towards pilot-scale and
field demonstrations.
Kinetics Testwork
CO2 Lock performed a series of experiments on rock and water
samples at BC Research Inc. ("BCRI") and their Technology
Commercialization and Innovation Center. BCRI is part of a
group of companies vertically integrated to provide clients with a
unique technology development and commercialization ecosystem in
the industrial area of chemical, petrochemical, and clean-tech
processes and technologies.
Experimentation at BCRI consisted of bringing CO2 in contact
with alkaline water collected from Decar; the water contained high
magnesium and calcium cation concentrations and exceeded pH 11.
During the testwork program, labile cations bonded with
CO2 in the aqueous phase, causing precipitation of
solid, stable carbonate minerals, locking away CO2. The
initial testwork completed by CO2 Lock aligns with expectations,
showing carbonate precipitation does occur and is sensitive to
variations in pH, initial water chemistry, and other parameters.
Notably, some water samples began precipitating solid minerals
spontaneously in the field, when brought in contact with the
atmosphere, demonstrating the potential for efficient kinetics in
the carbon mineralization reaction.
Rock-based test work comprised a number of dissolution and
mineralization experiments on BRSP rocks collected from CO2 Lock's
SAM property and focused on characterizing brucite-CO2
reaction kinetics, CO2 consumption rate, brucite
dissolution, and quantifying labile magnesium under different
initial conditions. Results showed that under ambient conditions
the BRSP sample rapidly reached maximum magnesium liberation in
less than a minute, confirming brucite is among the most reactive
minerals. After the rapid dissolution associated with the brucite
content of the sample, the magnesium liberation continues at a
lower rate, an indication of potentially significant CO2
mineralization contributions from other minerals commonly found in
BRSP deposits. CO2 Lock is undertaking a systematic approach to
improve magnesium liberation and CO2 mineralization
performance characteristics.
This bench-scale testing was performed on samples weighing less
than a kilogram; planned work through 2023 will upscale this
significantly through hundreds of kilograms with surface and
sub-surface BRSP from CO2 Lock's tenures. The pilot tests at the
scale of mineralizing kilograms of CO2 per test are
planned to be conducted in summer 2023, with continued increased
through to the tonnes-scale in 2024.
The outcomes of the bench-scale testing have been used to
develop and validate a computer model of mineralization and
development of process flowsheets for storage facilities.
Additionally, this experimental work is being combined with
previous data to develop computer models for comprehensively
capturing the real-world CO2 mineralization capacity of
rocks and water associated with BRSP deposits. This model will be
utilized to determine the total mineralization potential of CO2
Lock's SAM project, potential future acquisitions, upcoming
technoeconomic analysis and life cycle assessment work as CO2 Lock
moves towards field deployment and testing. CO2 Lock will
incorporate this work into LCA work and TEA scheduled for later in
2023, which will be key work in determining which of the multiple
paths to commercializing BRSP for CCS that CO2 Lock chooses to
advance through to pilot and field demonstrations.
Dr. Peter M.D. Bradshaw, P. Eng.,
FPX Nickel's Qualified Person under NI 43-101, has reviewed and
approved the technical content of this news release.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and
development of the Decar Nickel District, located in central
British Columbia, and other
occurrences of the same unique style of naturally occurring
nickel-iron alloy mineralization known as awaruite. For more
information, please view the Company's website at
www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604)
681-8600 or
ceo@fpxnickel.com.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and
Director
Forward-Looking
Statements
Certain of the statements made and information contained
herein is considered "forward-looking information" within the
meaning of applicable Canadian securities laws. These
statements address future events and conditions and so involve
inherent risks and uncertainties, as disclosed in the Company's
periodic filings with Canadian securities regulators. Actual
results could differ from those currently projected. The
Company does not assume the obligation to update any
forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
SOURCE FPX Nickel Corp.