Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the “Firm” or “Fathom”) is happy to announce that drilling has begun on the Firm’s 100% owned Albert Lake Undertaking. Mobilization of drilling tools was scheduled to start February 2nd however as a consequence of harsh climate situations mobilization didn’t start till February 4th. The Firm is happy to report climate situations have normalized and the drilling of the primary gap has commenced.
The connected Determine 1 illustrates the situation of proposed drillholes. The preliminary gap is concentrating on the very sturdy, very outstanding conductor dominating the northeastern part of the determine. This very sturdy time area electromagnetic (TDEM) conductor is modeled to be >350 meters under floor, a minimal strike size of 450 meters, and occurring coincident with a gravity anomaly (see Press Launch January 16, 2024). Extra exploration particulars for this present marketing campaign and illustrated in Determine 1 embrace:
- Define of the anomalous to very anomalous, sturdy Ni-in-soil anomaly occurring inside the Rottenstone-Tremblay-Olson hall as outlined by >ninetieth percentile (>15.6ppm and as much as 743ppm Ni-in-soil; see Press Launch January 17, 2023). A number of further drillholes are designed to check optimistic metals-in-soil anomalies inside the Tremblay-Olson Claims space. These holes are testing coincident soil, and rock geochemistry with coincident geology and geophysical options.
- Channel 10 TDEM responses derived from the summer time 2023 TDEM survey carried out on the Tremblay-Olson Claims space. Pink – magenta colouring defines areas of best, concentrated conductivity.
- Three (3) TDEM floor grids have been designed to additional outline TDEM conductors derived from surveys carried out in 2022 and 2023.
- The “Center” grid is additional detailing a powerful remoted conductor detected in 2023 coinciding with off-hole and above-hole BHEM conductors detected within the two holes drilled in March 2023 (see Press Launch Could 5, 2023).
- The “North” grid is an in depth follow-up to 2 separate grids accomplished in 2022 that outlined conductivity on this space. The detected conductivity additionally aligns with, and seems to coincide with, MAG picks emanating from, and trending southwest of the historic Rottenstone Mine. The third, “South” grid, is designed to check coincident conductivity with an interpreted fold-nose as outlined by floor geochemistry and airborne MAG surveys.
- The Firm anticipates further drill targets ensuing from the “Center” and “North” TDEM grids. Any drill targets ensuing from the “South” grid might be examined in future drill applications.
- Word: the MAG Picks (areas of magnetic depth) are derived from the 2022 Heli-borne AirTEM survey carried out on the Albert Lake challenge.
Determine – 1 Rottenstone-Tremblay Olson Hall Q-1 2024 Replace Map
The Firm is planning roughly 2,000 meters of drilling (5-7 drillholes) to additional check, and doubtlessly, decide the supply of the very sturdy, multi-element soil geochemical anomaly occurring on the Tremblay-Olson Claims space. Extra drill targets might be derived from the 2024 TDEM surveys.
An identical-sized marketing campaign is deliberate for the Gochager Lake challenge instantly following the completion of the Albert Lake program.
Ian Fraser, CEO and VP Exploration said, “To expertise fog and +8° C climate situations at Rottenstone Lake over the past week of January could be very uncommon. Now that issues have normalized, our crews have labored very onerous to make up for misplaced time and have now initiated the primary drillhole. We eagerly anticipate outcomes of the primary two EM grids. We’re very inspired that the AirTEM survey flown in 2022 acknowledges elevated magnetic depth immediately related to the Bay-Island Development discovery (300+ meters of steady ultramafic hosted Ni-Cu-Co + 3PE mineralization) occurring ~500 meters northwest of the historic Rottenstone Mine. We now acknowledge the same MAG signature trending instantly southwest of the Rottenstone Mine. As soon as the EM information has been collected and interpreted over this space and on the Center grid, we anticipate further drill targets growing. We’re happy that drilling has commenced and we very a lot stay up for the outcomes from this very fascinating drill marketing campaign.”
Certified Particular person and Information Verification
Ian Fraser, P.Geo., CEO, VP Exploration, and a Director of the Firm and the “certified individual” as such time period is outlined by Nationwide Instrument 43-101, has verified the information disclosed on this information launch, and has in any other case reviewed and accredited the technical info on this information launch on behalf of the Firm.
About Fathom Nickel Inc.
Fathom is an exploration firm that’s concentrating on magmatic nickel sulphide discoveries to assist the quickly rising international electrical car market.
The Firm now has a portfolio of two high-quality exploration initiatives positioned within the prolific Trans Hudson Hall in Saskatchewan: 1) the Albert Lake Undertaking, a 90,000+ hectare challenge that was host to the historic and previous producing Rottenstone deposit (produced high-grade Ni-Cu+PGE, 1965-1969), and a pair of) the 22,000+ hectare Gochager Lake Undertaking that’s host to a historic, NI43-101 non-compliant open pit useful resource consisting of 4.3M tons at 0.295% Ni and 0.081% Cu2.
1 – The Saskatchewan Mineral Deposit Index (SMID#0950) Tremblay-Olson Ni-Cu Deposit or Displaying.
2 – The Saskatchewan Mineral Deposit Index (SMID#0880) experiences drill indicated reserves on the historic Gochager Lake Deposit of 4,262,400 tons grading 0.295% Ni and 0.081% Cu mineable by open pit. Fathom can’t affirm the useful resource estimate, nor the parameters and strategies used to organize the reserve estimate. The estimate isn’t thought-about NI43-101 compliant and additional work is required to confirm this historic drill indicated reserve.
ON BEHALF OF THE BOARD
Ian Fraser, Chief Government Officer and Vice-President, Exploration
E mail: firstname.lastname@example.org
Doug Porter, President & CFO
E mail: email@example.com
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