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 inside the Firm’s 22,620 Ha Gochager Lake Challenge.
Highlights:
- 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 verify 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 sophisticated off-hole conductivity (BHEM) responses from this drillhole counsel further mineralization of this sort and grade happens proximal to this intercept.
- Semi-massive sulphide mineralization intersected at roughly 335 meters under floor stays open to depth.
- Nickel tenor calculations counsel Gochager Lake mineralization tenor of roughly 3.5% (Ni100), which is corresponding to nickel tenors inside the Sudbury Nickel Camp.
Drilling Highlights:
1 Reported drillhole intersections are down-hole intersection size and are usually not a real thickness. At current there may be 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 current drill marketing campaign intersected a number of halos of broad disseminated mineralization that every one have the potential to host further chutes of semi-massive sulphide nickel-copper-cobalt mineralization. BHEM surveys have detected quite a few robust off-hole conductors inside the broad disseminated mineralization halos. We’re additionally extraordinarily excited and inspired by the presence of the large sulphide vein in GL23008. Clearly, large sulphides equate to high-grade nickel – 3.25% on this case – and the BHEM tells us there may be very robust conductivity off-hole of GL23008. BHEM can be telling us we did not drill deep sufficient in GL23008 and a number of other different drillholes, as conductivity continues to extend to the tip of the drillholes. We’ve made super strides with solely 9 drillholes drilled on the Gochager Lake undertaking in 2023. We sit 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.”
Desk-1
Drillhole Assay Abstract:
Desk-2
Drillhole Location Particulars:
Determine 1: Fathom 2023 Drillhole Plan Map (Plan View)
Dialogue
Drillholes GL23006, GL23007 and GL23011 reported no important 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 extensive open for growth to depth. The drillhole intersected the zone of conductivity detected off-hole of historic drillhole GL18002 however primarily based on the power of the modelled conductivity it isn’t 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 encircling halos and higher-grade mineralized chutes inside, stay open for growth 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 accrued in 2023. The Firm’s objective 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 means of the providers 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 in the beginning 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 unbiased of Fathom. All drill core samples are analyzed utilizing a 4-Acid digestion adopted by 33 aspect ICP-AES analyses (Code ME-ICP61). Over restrict Ni, Cu outcomes are additional analyzed by 4-Acid ore grade parts 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). Whole sulphur is analysed by (S-IR08).
Certified Particular person and Knowledge 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 info 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 focusing on magmatic nickel sulphide discoveries to assist the quickly rising international electrical automobile market.
The Firm now has a portfolio of two high-quality exploration tasks situated within the prolific Trans Hudson Hall in Saskatchewan: 1) the Albert Lake Challenge, a 90,000+ hectare undertaking 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 Challenge, 19,000+ hectare undertaking 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 prevalence of drill intersections >1.% Ni (Mal Lake final drilled in 19673), and the Borys Lake Zn-Cu-Pb+Ag prevalence.
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’t verify the useful resource estimate nor the parameters and strategies used to arrange the reserve estimate. The estimate is just not 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
1-403-650-9760
E mail: ifraser@fathomnickel.com
or
Doug Porter, President & CFO
1-403-870-4349
E mail: dporter@fathomnickel.com
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