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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fort St James Nickel Corp | TSXV:FTJ | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.04 | 0.035 | 0.05 | 0 | 01:00:00 |
Fort St. James Nickel Corp. (TSX VENTURE:FTJ) (the "Company") is pleased to announce that is has entered into an option agreement (the "option") with the University of British Columbia ("UBC") to negotiate an exclusive right to use UBC's technology for the hydrometallurgical extraction of nickel from ultramafic ores. This technology has been invented or acquired by "UBC" under the direction of David Dixon Ph.D, P.Eng, professor of the Materials Engineering Department of the University of British Columbia. The technology, which has been patented in part, can be described as a process for the extraction of nickel from ultramafic hosted ore bodies to produce purified nickel metal or other saleable products containing nickel where the ore bodies consist of minerals of nickel sulfides, metallic nickel, or nickel-iron alloys such as awaruite using hydrometallurgical procedures. An option fee of $15,000 will be paid to UBC. During the Option Period (Dec 12, 2011 to April 1, 2013), UBC will not grant a license to commercially exploit the technology, within the country of Canada to any other party besides Fort St. James Nickel Corp. Fort St. James Nickel has agreed to provide UBC (Materials Engineering Department) with nickel mineralized ultramafic rock from its Kilometer 26 project to be used in the ongoing research. Due to the relatively low elevation of the Kilometre 26 property and its excellent infrastructure suitable test material can be accessed year-round. An initial batch of samples has already been provided. The Kilometer 26 Project encompasses 9,819 hectares (24,263 acres), located in the Omineca Mining Division of British Colombia near the community of Fort St. James approximately two and a half hours by highway from the city of Prince George. Results are currently pending on the initial five holes from the diamond drill program which was suspended on December 18, 2011 for Christmas break and is planned to resume in early February. 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.
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