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Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the “Firm” or “Fathom”) is happy to announce that drilling has begun on the Firm’s 100% owned Albert Lake Venture. Mobilization of drilling tools was scheduled to start February 2nd however attributable to harsh climate circumstances mobilization didn’t start till February 4th. The Firm is happy to report climate circumstances have normalized and the drilling of the primary gap has commenced.
The hooked up Determine 1 illustrates the situation of proposed drillholes. The preliminary gap is focusing on the very robust, very outstanding conductor dominating the northeastern part of the determine. This very robust time area electromagnetic (TDEM) conductor is modeled to be >350 meters beneath floor, a minimal strike size of 450 meters, and occurring coincident with a gravity anomaly (see Press Launch January 16, 2024). Further exploration particulars for this present marketing campaign and illustrated in Determine 1 embrace:
- Define of the anomalous to very anomalous, sturdy Ni-in-soil anomaly occurring inside the Rottenstone-Tremblay-Olson hall as outlined by >ninetieth percentile (>15.6ppm and as much as 743ppm Ni-in-soil; see Press Launch January 17, 2023). A number of further drillholes are designed to check optimistic metals-in-soil anomalies inside the Tremblay-Olson Claims space. These holes are testing coincident soil, and rock geochemistry with coincident geology and geophysical options.
- Channel 10 TDEM responses derived from the summer season 2023 TDEM survey carried out on the Tremblay-Olson Claims space. Purple – magenta colouring defines areas of best, concentrated conductivity.
- Three (3) TDEM floor grids have been designed to additional outline TDEM conductors derived from surveys carried out in 2022 and 2023.
- The “Center” grid is additional detailing a robust remoted conductor detected in 2023 coinciding with off-hole and above-hole BHEM conductors detected within the two holes drilled in March 2023 (see Press Launch Could 5, 2023).
- The “North” grid is an in depth follow-up to 2 separate grids accomplished in 2022 that outlined conductivity on this space. The detected conductivity additionally aligns with, and seems to coincide with, MAG picks emanating from, and trending southwest of the historic Rottenstone Mine. The third, “South” grid, is designed to check coincident conductivity with an interpreted fold-nose as outlined by floor geochemistry and airborne MAG surveys.
- The Firm anticipates further drill targets ensuing from the “Center” and “North” TDEM grids. Any drill targets ensuing from the “South” grid shall be examined in future drill packages.
- Observe: the MAG Picks (areas of magnetic depth) are derived from the 2022 Heli-borne AirTEM survey carried out on the Albert Lake challenge.
Determine – 1 Rottenstone-Tremblay Olson Hall Q-1 2024 Replace Map
The Firm is planning roughly 2,000 meters of drilling (5-7 drillholes) to additional check, and doubtlessly, decide the supply of the very sturdy, multi-element soil geochemical anomaly occurring on the Tremblay-Olson Claims space. Further drill targets shall be derived from the 2024 TDEM surveys.
An analogous-sized marketing campaign is deliberate for the Gochager Lake challenge instantly following the completion of the Albert Lake program.
Ian Fraser, CEO and VP Exploration said, “To expertise fog and +8° C climate circumstances at Rottenstone Lake over the last week of January may be very uncommon. Now that issues have normalized, our crews have labored very arduous to make up for misplaced time and have now initiated the primary drillhole. We eagerly anticipate outcomes of the primary two EM grids. We’re very inspired that the AirTEM survey flown in 2022 acknowledges elevated magnetic depth instantly related to the Bay-Island Development discovery (300+ meters of steady ultramafic hosted Ni-Cu-Co + 3PE mineralization) occurring ~500 meters northwest of the historic Rottenstone Mine. We now acknowledge an identical MAG signature trending instantly southwest of the Rottenstone Mine. As soon as the EM information has been collected and interpreted over this space and on the Center grid, we anticipate further drill targets creating. We’re happy that drilling has commenced and we very a lot stay up for the outcomes from this very attention-grabbing drill marketing campaign.”
Certified Particular person and Information 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 information disclosed on this information launch, and has in any other case reviewed and authorized the technical data 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 world 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 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 pair of) the 22,000+ hectare Gochager Lake Venture that’s host to a historic, NI43-101 non-compliant open pit useful resource consisting of 4.3M tons at 0.295% Ni and 0.081% Cu2.
1 – The Saskatchewan Mineral Deposit Index (SMID#0950) Tremblay-Olson Ni-Cu Deposit or Exhibiting.
2 – The Saskatchewan Mineral Deposit Index (SMID#0880) reviews 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 verify the useful resource estimate, nor the parameters and strategies used to organize the reserve estimate. The estimate just isn’t thought-about NI43-101 compliant and additional work is required to confirm this historic drill indicated reserve.
ON BEHALF OF THE BOARD
Ian Fraser, Chief Govt Officer and 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
Ahead-Trying Statements:
This information launch incorporates “forward-looking statements” which can be primarily based on expectations, estimates, projections and interpretations as on the date of this information launch. Ahead-Trying statements are regularly characterised by phrases reminiscent of “plan”, “count on”, “challenge”, “search”, “intend”, “consider”, “anticipate”, “estimate”, “recommend”, “point out” and different related phrases or statements that sure occasions or circumstances “might” or “will” happen, and embrace, with out limitation, statements concerning meant future exploration work, together with drilling, and the timing of such actions. Ahead-Trying statements relate to data that’s primarily based on assumptions of administration, forecasts of future outcomes, and estimates of quantities not but determinable. Any statements that specific predictions, expectations, beliefs, plans, projections, aims, assumptions or future occasions or efficiency should not statements of historic truth and could also be “forward-looking statements.” Ahead-Trying statements are topic to a wide range of dangers and uncertainties which may trigger precise occasions or outcomes to vary from these mirrored within the forward-looking statements, together with, with out limitation: dangers associated to failure to acquire sufficient financing on a well timed foundation and on acceptable phrases; dangers associated to the result of authorized proceedings; political and regulatory dangers related to mining and exploration; dangers associated to the upkeep of inventory trade listings; dangers associated to environmental regulation and legal responsibility; the potential for delays in exploration or improvement actions or the completion of feasibility research; the uncertainty of profitability; dangers and uncertainties referring to the interpretation of drill outcomes, the geology, grade and continuity of mineral deposits; dangers associated to the inherent uncertainty of manufacturing and value estimates and the potential for surprising prices and bills; outcomes of prefeasibility and feasibility research, and the likelihood that future exploration, improvement or mining outcomes won’t be in line with the Firm’s expectations; dangers associated to commodity worth fluctuations; and different dangers and uncertainties associated to the Firm’s prospects, properties and enterprise detailed elsewhere within the Firm’s disclosure report. Such forward-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. These forward-looking statements are made as of the date hereof and the Firm doesn’t assume any obligation to replace or revise them to mirror new occasions or circumstances besides in accordance with relevant securities legal guidelines. Precise occasions or outcomes may differ materially from the Firm’s expectations or projections.
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