The Baptiste deposit at Decar has recently been confirmed as one of the world’s most robust large-scale nickel projects, potentially making this region a valuable area for nickel exploration.

The Company has a 100% ownership of its British Columbia Nickel Project. The Surge British Columbia Nickel Project consists of two non-contiguous mineral claims groups, located in central British Columbia. These projects are hosted by an ultramafic/ophiolite complex, a similar mineralized suite of rocks to that hosting the Baptiste and Van deposits of FPX Nickel. In 2022, Surge spent $900,000 further developing this exploration target.

The FPX property host two greenfield discoveries of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni3Fe), which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste and Van deposits, and the B and Sid targets. Since 2010, approximately $28-million (U.S.) has been spent on the exploration and development by FPX.” (Source: FPX Nickel news release 13-09-2022).

In December 2022 FPX announced a $12 million investment from a “strategic investor”. This stake represents an approximately 9.95% equity position in FPX as it methodically develops a significant and potentially carbon neutral nickel mining project, one of the largest undeveloped projects in the world. This placement may have important future implications for FPX since critical minerals projects are attracting newfound interest from pension funds and automakers to help tackle a looming shortage of battery metals.