- Fathom Nickel (CSE:FNI) has intersected magmatic nickel mineralization at its summer 2022 exploration program at its Albert Lake Project
- The company said magmatic nickel mineralization is now confirmed over a strike of 315 meters and remains open along strike north and south
- Fathom Nickel’s summer drill program is intended to extend the conductivity zone and ultramafic nickel-copper-cobalt-PGE mineralization south of drillhole AL22057
- Once the program is complete, 12-to-15 drillholes totaling 1,500 meters of drilling will have been done along a trend south of drillhole AL22057
- Shares of Fathom Nickel are down 9.38 per cent to C$0.14 as of 11:54 am EDT
Fathom Nickel Inc. (CSE:FNI) has updated its summer exploration program at the Albert Lake Property in Saskatchewan.
In a press release, the company said it had intersected magmatic nickel mineralization which is now confirmed over a strike length of 315 meters and remains open along strike north and south.
Fathom Nickel’s summer 2022 drill program is intended to extend the conductivity zone and ultramafic nickel-copper-cobalt-PGE mineralization south of drillhole AL22057 that was identified during the company’s winter drill program.
The company identified the Bay Area Conductive Corridor during its winter drill program, a zone of electromagnetic conductivity measuring up to 300 meters in length. Within the conductive corridor, assays returned up to 3.07 per cent nickel equivalent.
Highlights from the summer program to date include:
- Once the program is completed, 12-to-15 drillholes will be completed, amounting to 1,500 meters of drilling and will have been drilled on-trend south of drillhole AL22057
- Several drillholes have intersected mineralized ultramafic and magnetic sulphide textures similar to those from the winter drill program
- Magmatic nickel mineralization occurring in ultramafic pegmatite and sediments have been recognized in drillhole intervals of up to 16 meters
“The winter and summer drilling has confirmed and traced this conductivity over a strike length in excess of 300m and remains open north and south,” Ian Fraser, vice president of exploration at Fathom Nickel, said in a press release. “Summer drilling has encountered robust BHEM signatures and mineralized ultramafic – very similar to signatures and mineralization that lead us to the discoveries in AL22052 and AL22057.”
Fathom Nickel has also had an AirTEM survey completed by Balch Exploration Consulting Inc. over three grid areas spanning 1,447 l-km. The company is currently waiting for the results of the survey, but expects that the zones of identified favourable conductivity will align with soil geochemical anomalies it previously defined in 2018 and 2021.
Shares of Fathom Nickel are down 9.38 per cent to C$0.14 as of 11:54 a.m. EDT.