FNICF - InvestorNewsBreaks - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) Reports on Results of Drill Program at Albert Lake Project
Fathom Nickel (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF), an exploration company targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market, is reporting on the results of the Q1 drill program at the company's wholly owned Albert Lake Project. Key points from the program include that six drillholes have been drilled at the project, totaling 1,386 meters, with Drillhole AL24077 intersecting 0.42% nickel (“Ni”) over an intersection of 2.01 meters; the nickel mineralization is hosted in orthopyroxenite, which is part of the host rock assemblage recognized at the nearby high-grade Ni-Cu+PGE Rottenstone deposit; and the AL24077 nickel intersection has a very high nickel tenor (~10%). The company also noted that drilling has been completed at its Gochager Lake Project; the company anticipates releasing assays for that drilling program next month. “The elevated nickel concentration in Rottenstone-like ultramafic rock and the very-high associated nickel tenor identified in our drillhole AL24077 is a very significant development,” said Fathom Nickel CEO and VP of exploration Ian Fraser in the press release. “We recognize high nickel tenors associated with Rottenstone-type mineralization and in ultramafic rock occurring along strike and in the structural trend that hosts the historic Rottenstone deposit/mine. The 10% nickel tenor defined in intervals comprising <3% sulphide in drillhole AL24077 indicates that net-textured to massive sulphide mineralization occurring along strike, and most likely at depth, within this same ultramafic unit could develop into a mineral deposit with metal grades similar to the historic Rottenstone deposit. We think the robustness and size of the multielement soil geochemistry anomaly around AL24077 indicates chemical contributions from a large mineralized ultramafic body in the footprint of this soil geochemistry anomaly. The company plans to further evaluate this robust soil geochemical anomaly by undertaking detailed surface geochemistry and geophysics to reconcile soil geochemistry with surface and BHEM anomalies. Understanding the coincident geochemical and geophysical responses coincident with the ultramafic stratigraphy in AL24077 will help guide the next phase of drilling. A nickel tenor of 6-10% is a feature of the Rottenstone Deposit, which carried exceptionally high nickel grades. Identification of high nickel tenor 1.2 km south of historic Rottenstone, and within the multielement soil anomaly is another very significant clue in our quest to discover a large nickel deposit with Rottenstone-like grades. More work is required; however, this is another important development at the Albert Lake project. We are getting closer.”
To view the full press release, visit https://ibn.fm/As26t
About Fathom Nickel Inc.
Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market. The company has a portfolio of two high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan: the Albert Lake Project, a 90,000-plus hectare project that was host to the historic and past-producing Rottenstone deposit, and the 22,000-plus hectare Gochager Lake Project, which is host to a historic, NI43-101 noncompliant open pit resource consisting of 4.3 million tons at 0.295% Ni and 0.081% Cu2. For more information about the company, please visit www.FathomNickel.com.
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