Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the “Company” or “Fathom“) is pleased to announce results of the Q1 drill program at the Company’s 100% owned Albert Lake Project. Additionally, effective April 8, 2024, drilling has been completed at the Gochager Lake Project. Assays for the Gochager Lake project are expected to be released by the end of May.
Highlights of Q1 Albert Lake Project drill program:
Six (6) drillholes (AL24075 – AL24080), totaling 1,386 meters drilled at the project (Figure 1, Table 1).
Drillhole AL24077 intersected 0.42% Ni over an intersection of 2.01 meters (Table 2).
Importantly, this nickel mineralization is hosted in orthopyroxenite. Orthopyroxenite is part of the host rock assemblage recognized at the historic, and very high-grade Ni-Cu+PGE Rottenstone deposit located approximately 1.2 kilometers to the northeast of AL24077 (Figure 1).
Also of importance, the AL24077 nickel intersection has a very high nickel tenor (~10%). Typical Rottenstone mineralization has a nickel tenor of in the 6-10% range (see Table 3, Figure 1).
Shallow off-hole BHEM conductivity anomalies were detected in all drillholes surveyed.
Ian Fraser, CEO and VP Exploration stated, “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. 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 multi-element 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 multi-element 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.”