- An estimated 50% of all cars sold globally will be EVs by 2035, predicts the International Energy Agency’s Global EV Outlook.
- Fathom Nickel reports that the geochemical footprint of its Gochager Lake deposit has been extended by up to four kilometers.
- Company “ecstatic” with the results from soil and rock geochemistry program, says CEO.
Despite headlines touting a slowing electric vehicle market, Forbes reports that actual data shows increasing sales, with projections indicating almost one-half of all cars sold in by 2035 will be EVs (https://ibn.fm/CuHiK). Those numbers are good news for Fathom Nickel (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF), a company focused on exploring high-grade nickel sulfide discoveries for use in the global EV market, and a company that recently announced significant expansions to its historic nickel-copper-cobalt-producing (“Ni-Cu-Co”) Gochager Lake Property (https://ibn.fm/0uQS9).
“Data from the International Energy Agency’s Global EV Outlook 2024 makes vibes-based reporting on the demise of EV sales look silly,” the Forbes article states. “Global EV sales could hit 17 million in 2024, meaning more than one in five cars sold worldwide will be electric. Surging demand for clean, cheap EVs across the rest of this decade will completely change the global auto industry. By 2035, IEA projects 50% of all cars sold globally will be EVs, cutting oil demand between 6–10 million barrels per day, equivalent to the current amount used for road transportation in the U.S. . . .
“This is huge news for cutting consumer costs, creating new jobs and investment, and cleaning up our air,” the article continued. “Everyone, everywhere wants to save money and breathe cleaner air. Soon everyone, everywhere will soon have the choice to make their next car a clean, cheap EV.”
Furthermore, the article pointed out, “IEA’s annual Global EV Outlook identifies and assesses recent developments in global electric mobility. And IEA is considered the world’s leading authority on all energy trends, meaning this forecast isn’t hype – its data driven.”
Fathom Nickel is also relying on actual data with the recent expansion of its 22,000-plus-hectare Gochager Lake Property. The company recently released results from its “extremely successful” June soil and rock geochemistry program, which clearly demonstrate that the geochemical footprint of the Gochager Lake deposit has been extended by up to four kilometers along trend, approximately two kilometers in both the northeast and southwest directions.
“The company is ecstatic with the results from this soil and rock geochemistry program,” said Fathom Nickel CEO and VP of exploration Ian Fraser. “Through our drilling at the historic Gochager Lake deposit over the course of the last 18 months, we have developed a clear understanding of the deposit’s geochemical footprint. The combination of highly anomalous Ni-Cu-Co + chrome (“Cr”) and magnesium (“Mg”) in-soil, rock geochemistry results generated by pXRF, and rock assay data has expanded the Gochager Lake deposit geochemical footprint dramatically — to an area that now measures, incredibly, some 1.7 square kilometers.
“That’s 25 times larger than the area of the historic Gochager Lake deposit,” Fraser continued. “In addition, we have identified other separate, very prominent Ni-Cu-Co + Cr-Mg in-soil anomalies outside of this 1.7 square kilometer footprint area. Underlaying this geochemical footprint is a very distinct MAG feature recognized through the ongoing interpretation of the 2008 VTEM survey. We are very confident that our exacting exploration approach will continue to successfully expand the historic Gochager Lake deposit along strike and to depth, in terms of both grade and tonnage. We are also very confident of significant additional discoveries both within the now-expanded footprint, and also the greater Gochager Lake property. Based on continuing results, there is clear and compelling potential for a major discovery to be had here.”
Fathom is an exploration company that is targeting nickel-copper-cobalt magmatic sulfide discoveries to support the rapidly growing global electric vehicle market and to secure the supply of North American critical minerals. The company now has a portfolio of three high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan: 1) the Albert Lake Project, a 90,000-plus hectare project that was host to the historic and past-producing Rottenstone Mine; 2) the 22,000-plus hectare Gochager Lake Project that is host to a historic, NI43-101 noncompliant open pit resource consisting of 4.3M tons at 0.295% Ni and 0.081% Cu3; and 3) the 10,000-plus hectare Friesen Lake Project located 40 kilometers southwest of the historic Rottenstone Mine and 30 kilometers northwest of the historic Gochager Lake deposit.
For more information, visit the company’s website at FathomNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to FNICF are available in the company’s newsroom at https://ibn.fm/FNICF
