FPX Nickel Corp (FPX)

[Tackler]

Nice wood... First Point reviews two holes from Balsamo East target

2004-05-31 05:03 ET - News Release


Mr. Peter Bradshaw reports

EXCITING GOLD INTERCEPTS FOR FIRST POINT AT RIO LUNA PROJECT

First Point Minerals Corp. has released the gold grades from the first two deep drill holes at the Balsamo East target at the Rio Luna gold project in Nicaragua as tabulated below.

 
 Hole      From     To    Length     Gold 
              m      m         m      g/t 
  
 DD-RL-21 58.82  61.72      2.90    39.75 
 Incl.    59.76  61.35      1.59    68.22 
 DD-RL-22 85.40  87.69      2.29    30.58 
 Incl.    86.50  87.69      1.19    57.62 
 

RL-21 and RL-22 are on the same section and between previously announced holes RL-8 (13.8 metres of 1.1 grams per tonne gold) and RL-7 (5.0 metres of 0.7 gram per tonne gold). RL-22 intersects the vein approximately 40 metres down dip from RL-21. Full interpretation of these results is awaiting analytical data from two additional holes at Balsamo East (RL-23 and RL-24). The company anticipates receiving the gold assay results from these two holes within the next two weeks, with silver assays for all four holes to follow at a later date.

Currently the rig is being moved to the Balsamo target, where a deep drill hole program will commence shortly. As previously announced in Stockwatch, at Balsamo, DD-RL-3 intersected 19.4 grams per tonne gold over 2.6 metres.

All gold intersections are associated with strong quartz veins, breccias and stockwork zones.

The qualified person responsible for this release is Dr. Peter M.D. Bradshaw, PEng