- Geochemical footprint increased by up to 25 times historic size
- Significant new nickel, copper and cobalt anomalies identified in soil samples
- Completion of all-season camp and Drone MAG survey enhances exploration
Fathom Nickel (CSE: FNI) (OTCQB: FNICF) has significantly expanded the geochemical footprint of its Gochager Lake deposit in Saskatchewan, underscoring its growing potential for substantial mineral discoveries critical to the green economy. The company announced the results of its June soil and rock geochemistry program, revealing a dramatic increase in the deposit’s geochemical footprint, a key development for investors and stakeholders that have been watching the company systematically prove the size, grade and diverse mineralization of its impressive portfolio of projects.
Data from the latest geochemical analysis has extended the Gochager Lake deposit’s footprint by up to four kilometers along trend, with extensions in both northeast and southwest directions. This expansion brings the total geochemical footprint to approximately 1.7 square kilometers, representing a remarkable 25-fold increase from the historical footprint of the deposit.
Historic drilling at the Gochager Lake deposit during 1968-1970 indicated reserves of 4,262,400 tons grading 0.295% Ni and 0.081% Cu mineable by open pit. Cobalt was completely overlooked at that time and equally important metals are steadily being uncovered alongside the nickel, copper and cobalt utilizing Fathom’s modern exploration techniques.
The June program’s findings were notably impactful. The analysis included portable X-ray fluorescence (“pXRF”) of outcrop chip samples and rock sampling, which indicated a 12.5-fold increase in the variable-textured gabbro footprint within the historic deposit area. More importantly, soil geochemistry results highlighted a prominent geochemical signal characterized by high nickel, copper, cobalt, chromium, and magnesium.
One of the standout discoveries was a linear trend of highly anomalous soil samples with nickel, copper and cobalt concentrations exceeding 600 meters in length and up to 100 meters in width. This trend is indicative of a potential subsurface mafic-ultramafic source rock, located roughly 1.2 kilometers east-northeast of the historic deposit. This anomaly remains open beyond the current soil sampling limits, suggesting further exploration potential.
A particularly noteworthy soil sample recorded concentrations of 1,650 ppm nickel, 116.5 ppm copper, and 373 ppm cobalt, pointing to significant mineralization potential. This result underscores the high-grade nature of the geochemical anomalies and adds to the growing excitement surrounding the Gochager Lake project.
In addition to these findings, Fathom Nickel has completed the construction of a new all-season camp at the Gochager Lake site. The camp’s establishment, coupled with the recent completion of a Drone MAG survey, is expected to enhance ongoing exploration efforts. The Drone MAG survey, conducted in early August, covered 367.2 line-kilometers, and results are anticipated in the first week of September.
Ian Fraser, CEO and VP Exploration of Fathom Nickel, was elated by the newest results and corporate accomplishments. He is clearly optimistic, saying, “The company is ecstatic with the results from this soil and rock geochemistry program. 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.”
Fraser highlighted the company’s commitment to further exploration and the potential for significant new discoveries both within the expanded footprint and the broader Gochager Lake property. These developments mark a pivotal moment for Fathom Nickel, positioning the company for potential growth and increased investor interest as it advances its exploration and development efforts.
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
