Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the “Firm” or “Fathom”) is happy to announce assay outcomes from the seven-hole, September drill program accomplished on the historic Gochager Lake deposit throughout the Firm’s 22,620 Ha Gochager Lake Venture.
- Steady nickel-copper-cobalt mineralization happens in broad halos which host steeply oriented chutes of very conductive, semi-massive sulphide mineralization grading ~1-3% nickel.
- Drilling continues to substantiate that zones of >1% nickel are related to zones of excessive conductivity as outlined by borehole electromagnetic surveys (BHEM).
- Huge sulphide vein intersected in GL23008 returned 3.25% Ni / 0.64 meters. Very robust and complicated off-hole conductivity (BHEM) responses from this drillhole recommend extra mineralization of this kind and grade happens proximal to this intercept.
- Semi-massive sulphide mineralization intersected at roughly 335 meters beneath floor stays open to depth.
- Nickel tenor calculations recommend Gochager Lake mineralization tenor of roughly 3.5% (Ni100), which is similar to nickel tenors throughout the Sudbury Nickel Camp.
1 Reported drillhole intersections are down-hole intersection size and will not be a real thickness. At current there’s inadequate info to find out true thickness.
Ian Fraser, CEO and VP Exploration acknowledged,“The September drill program was profitable in offering perception into the steep orientation of the mineralization we intersected in GL23003 and, importantly, its orientation alongside strike. It’s now very evident that steeply oriented chutes of semi-massive mineralization happen inside broad halos of disseminated mineralization. This latest drill marketing campaign intersected a number of halos of broad disseminated mineralization that every one have the potential to host extra chutes of semi-massive sulphide nickel-copper-cobalt mineralization. BHEM surveys have detected quite a few robust off-hole conductors throughout the broad disseminated mineralization halos. We’re additionally extraordinarily excited and inspired by the presence of the large sulphide vein in GL23008. Clearly, huge sulphides equate to high-grade nickel – 3.25% on this case – and the BHEM tells us there’s very robust conductivity off-hole of GL23008. BHEM can be telling us we did not drill deep sufficient in GL23008 and several other different drillholes, as conductivity continues to extend to the top of the drillholes. We now have made large strides with solely 9 drillholes drilled on the Gochager Lake challenge in 2023. We stay up for persevering with this success as we put together to execute the winter 2024 drill program which we’re planning to provoke in Q1-2024.”
Drillhole Assay Abstract:
Drillhole Location Particulars:
Determine 1: Fathom 2023 Drillhole Plan Map (Plan View)
Drillholes GL23006, GL23007 and GL23011 reported no vital outcomes (Desk-1). Drillholes GL23006 and GL23007 intersected a number of zones of weak mineralization >0.10% Ni – 0.25% Ni over thicknesses as much as 17.89m. The BHEM probe of GL23007 acknowledges the robust conductivity off-hole to the east and related to semi-massive sulphide mineralization intersected in drillholes GL23003, GL23010. It now seems this chute of high-grade Ni mineralization has a north-northeast strike and never a northeast strike as initially anticipated. Drillhole GL23011 drilled ~ 400 meters to northeast of the deposit space, and never illustrated in Determine 1, was persistently anomalous in nickel (>100ppm and as much as 1290ppm Ni). Gabbro, the Gochager Lake deposit host rock, was logged within the drillhole and the BHEM survey has recognized 3 off-hole anomalies. GL23009 has considerably prolonged the historic Gochager Lake deposit to depth and the deposit stays vast open for enlargement to depth. The drillhole intersected the zone of conductivity detected off-hole of historic drillhole GL18002 however based mostly on the power of the modelled conductivity it’s not clear if the three.25m of semi-massive sulphide mineralization (1.35% Ni) is the precise supply of this conductivity. Sturdy off-hole conductivity has been interpreted in entrance of GL23009 the place zones of disseminated mineralization happen between depths of 43m – 217m. The high-grade nickel mineralization intersected in GL23010 is contained inside two discreet broad zones of disseminated mineralization (Desk-1). The surrounding halos and higher-grade mineralized chutes inside, stay open for enlargement to floor and to depth. A 3rd mineralized halo in GL23010 was intersected beginning at a depth of 260.05m and persevering with to 297.67m (0.21% Ni / 37.62m). Mineralization inside this interval may be very constant and right here to, BHEM conductivity was interpreted to be constructing to the underside of the drillhole.
The Firm will spend the rest of 2023 persevering with to interpret the drilling and geophysical knowledge units gathered in 2023. The Firm’s purpose is to drill 3,000 to five,000 meters in Q1-2024 at Gochager Lake to additional delineate the broad mineralized halos and the extra conductive and higher-grade mineralization occurring inside these halos.
High quality Assurance / High quality Management (QA/QC) Disclosure Statement
Fathom implements an industry-standard QA/QC for all subject and diamond drill applications. Fathom, by the companies of TerraLogic Exploration Inc., inserts QA/QC samples in its diamond drill applications at a charge of 1 pattern per roughly each 12-13 samples collected. Requirements sourced from CDN Useful resource Laboratories and CCRMP have been inserted into the pattern stream at a charge of 1 in 30 samples. Moreover, lab duplicates (coarse rejects) have been inserted and positioned within the pattern sequence at a charge of 1 in 30 samples and positioned within the pattern sequence alternating with requirements to end in a QA/QC insertion charge of at least 1 in 15 samples. Blanks have been inserted initially of each pattern batch and moreover after samples of anticipated high-grade or excessive sulphide content material.
Assaying is carried out at ALS Canada Ltd. (“ALS”). ALS is an accredited laboratory (SCC – CAN-P-1579 and CAN-P-4E ISO/IEC 17025) and is impartial of Fathom. All drill core samples are analyzed utilizing a 4-Acid digestion adopted by 33 component ICP-AES analyses (Code ME-ICP61). Over restrict Ni, Cu outcomes are additional analyzed by 4-Acid ore grade components ICP-AES course of (Code ME-OG62). Analyses for Au, Pd and Pt utilized the ore grade Pt, Pd and Au by ICP-AES (Code PGM-ICP27). Complete sulphur is analysed by (S-IR08).
Certified Individual and Information Verification
Ian Fraser, P.Geo., CEO, VP Exploration and a Director of the Firm and the “certified particular person” 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 tasks positioned within the prolific Trans Hudson Hall in Saskatchewan: 1) the Albert Lake Venture, 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 couple of) the Gochager Lake Venture, 19,000+ hectare challenge host to a historic, NI43-101 non-compliant open pit useful resource; the Gochager Lake deposit,( of 4.3M tons at 0.295% Ni and 0.081% Cu2, outlined 1967-1970), a similar drill examined nickel incidence of drill intersections >1.% Ni (Mal Lake final drilled in 19673), and the Borys Lake Zn-Cu-Pb+Ag incidence.
2 – The Saskatchewan Mineral Deposit Index (SMID#0880) stories 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 not affirm the useful resource estimate nor the parameters and strategies used to arrange the reserve estimate. The estimate isn’t thought of NI43-101 compliant and additional work is required to confirm this historic drill indicated reserve.
3 – Saskatchewan Mineral Deposit Index #0836
ON BEHALF OF THE BOARD
Ian Fraser, CEO & Vice-President Exploration
E mail: firstname.lastname@example.org
Doug Porter, President & CFO
E mail: email@example.com
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